Obama wasn't hitting records, just regaining lost ground. Look at a chart for the last 20 years and you'll see the flaw in cherry picking a specific timeline.
Bottomline Obama wasn't creating wealth, he was repaying the piggy bank.
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Obama wasn't hitting records, just regaining lost ground. Look at a chart for the last 20 years and you'll see the flaw in cherry picking a specific timeline.
Bottomline Obama wasn't creating wealth, he was repaying the piggy bank.
This should show what I mean.... that huge ass dip at the bottom is where your pal begins his data point, which ignores the billions in lost wealth up to that point in time.
And to be fair a big chuck of that loss of wealth is to be blamed on Bush 43, But Obama was never able to create wealth, he was only able to regain lost wealth.... so you pals chart is apples to oranges....
Attachment 92785
FWIW, here is the article he cited.
http://fortune.com/2019/06/03/stock-...d64KmKGbaQWEpY
Quote:
Originally Posted by Iceaxe
It's because he didn't have a magic wand. :haha:
https://thehill.com/blogs/blog-brief...nd-do-you-have
Funny that Trumps magic wand ended up just being a telephone.Quote:
Originally Posted by rockgremlin
I don't give a shit what he referenced... I gave you facts. The chart I post is not cherry picked, it's just a simple chart of the past 20 years. Any idiot should be able to read it.Quote:
Originally Posted by accadacca
ALso, weren't Obama's 'gains' largely inflated due to bail-outs footed by taxpayers? How well would those gains have been without dumping billions of tax payer $ into the market to help recover from the recession?
Correlation doesn't equal causation,ie.
obama came on the seen during a great depression, that is not argued.
The stock market---not the country, rebounded, not due to any program or regulation put in place by xero.
The country had record high inflation(printing too much money), and a shrinking GDP
Those things measure the status of a countries prosperity.
Bailing out GM was a fail, they're right back in the same boat now(kicking the can down the road is not considered sound policy)
Sending Billions of dollars to iran, does nothing to stimulate the economy, the inverse could be argued.
Letting solyndra walk with 500 million, is not sound policy that stimulates the economy.
On the other hand--Trump has enacted policy after policy on trade and tariffs, doing what no other of the past 4 presidents, were smart enough to do(he has a magic wand)
The economy is booming BECAUSE of Donald Trump, not in spite of him as in the case of obama.
Looks like we're about to make more history in the stockmarket today.
This should be fun watching the Trumpian up trends.....Try as they might, Democrats can't seem to talk this economy down and keep it contained.....Investors know what's up...
The key fact Dems/leftists/socialists don't understand about tax cuts, and specifically corp tax cuts as done here, is the compounding effect. If the cut was $300 billion worth in year 1 (or whatever it was), that is infinitely more valuable as it compounds transaction after transaction, year after year, than merely $300 billion in spending. They fundamentally do not get that.Quote:
Originally Posted by Iceaxe
That BOOM you heard today was the major stock indexes setting all time record highs.
Is Obama still trying to claim credit for our record setting economy? Asking for a friend.
....unless you're investing in cannabis stocks, which are currently in the middle of a three month downturn. :roll:Quote:
Originally Posted by Iceaxe
I think the cannabis sector will probably bounce back this Fall, just in time for the holidays. For now, it ain't pretty.
https://www.youtube.com/watch?v=Emdzsz_XvfAQuote:
Originally Posted by accadacca
Quote:
Originally Posted by accadacca
https://aturennyc.com/wp-content/upl...-first-aid.jpg
https://www.verywellmind.com/thmb/JH...eba4a76d28.jpg
https://i0.wp.com/www.jennifershanno...66%2C349&ssl=1
Good time to buy stocks!
Climb-Utah.com
Looks like stocks are going to be on sale.
With today's stockmarket panic my stock portfolio is now only up 17% for the year to date.... Hahaha....
I'm shopping this low for good buys... YMMV
Climb-Utah.com
^^^So where is old Negative Nellie when the stock market goes on an upwards terror?Quote:
Originally Posted by accadacca
[emoji631]
Climb-Utah.com
Yup -- up over 400 points today so far. :2thumbs:
Old Negative Nellie should be entering in 3... 2... 1...
Climb-Utah.com
Dow plummets 800 points as recession worries intensify, bond market raises red flag. Worst day of the year.Quote:
Originally Posted by Iceaxe
We're headed into a recession? How so? Growth is still strong, and unemployment still low.
I'm kinda new at this, what is the relationship with your chart and the stock market?
I can't read it very well, some kind of a spread?
It would help when posting charts to give some kind of analysis.
I think it's a chart that measures the Dow in 1/1000 of a point...something like that. Just enough so it looks scary.
At 56 years old, I've learned a lot about myself and a lot about other people. Seems to me that some folks seem to like hurting themselves.
Anyway...I bet it jumps right back up tomorrow. A whole bunch of people made a lot of money today. This will likely happen off and on 'till X-mas. Jr. wants the G.I. Joe with the kung fu grip.
Stocks go up and stocks go down.... if you want to make money buy low and sell high...
Personally I'm not worried about the current US economy... This dip has everything to do with China and German economy's swirling the toliet bowl. Foreign money suddenly poured into the US bond market as a safe harbor. The idiots that just read and react to charts and micro trends will figure it out shortly and it will bounce back up. There is no reason for stocks to plunge today outside of panic and liberal wishful thinking.
Climb-Utah.com
If you're wringing your hands and fretting that the U.S. is on the verge of plunging into another recession abyss.....don't.
The type of recession that is allegedly in the works is a very brief one that will not last more than a few weeks/months before springing back up, stronger than ever. Here's an article that will explain this better than I can, complete with fancy charts and graphs:
https://www.marketwatch.com/story/af...978-2019-08-14
So if @accadacca is worried that his kid's college fund is getting flushed down the crapper, he can rest easier knowing that this is more than likely just normal market movements at best, and a very minor and short-lived mini-recession at worst. :2thumbs:
Would still be nice if you post a chart to make a point---Identify the point you are trying to make.
How else do us poor folks learn...
From rock's article:
https://uploads.tapatalk-cdn.com/201...e325de71ed.jpg
I did. The article I posted has several charts with explanations.Quote:
Originally Posted by oldno7
Here’s the commentary from a friend of mine who is a Trump hater...
Code:This morning, the U.S. yield curve inverted for the first time since 2007. This development has preceded every U.S. recession over the past 45 years. It's a warning sign, and the market is tanking again in response.
The 2017 tax cut for billionaires flopped. Government spending far outpaced revenue the last two years. The U.S. debt has grown at the fastest pace in 75 years since Trump took office. And Trump's multi-front trade war has done significant damage to the economy and to U.S. agriculture markets. Dropping out of TPP and bullying the Fed into rate cuts were disastrous moves. So was ignoring market volatility and global warning signs. A lot of bad decisions and failed policies the past three years to get us here.
We've never faced a recession with this amount of debt, with the Fed backed into a corner with so little room to maneuver, and with so many of our trade alliances in ashes.
^^^Someone is watching to much CNN and The View.
Climb-Utah.com
So, is your friend an economist or just a Trump hater? I agree with Ice here, whenever folks publish doom and gloom it's usually because they have an agenda and they really don't know what they're talking about.
I can recall when Trump was elected everybody predicted the stock market would collapse overnight and it did just the opposite.
Looks like that "tanking" market is up 100 points this morning...
The inverted bond market may be an indicator of a recession to come. One annalist on the radio stated this morning that worry is when it remains this way for 3-4 months. Check back in three months.
Acca is like my brother.... he watches CNN all day long and then actually believes the sky is falling.
If you really believe #FakeNews then now would be a great time to dump all stocks and invest in Gold. You would bank enough coin to never have to work again if CNN's prediction (wish?) were to come true.
The Gold graph is funny..... Looks like something from CNN's morning Trump doom and gloom forecast...
But look at gold's price in the last economic meltdown of 2009, and think how much you could have made if you had dumped all your assets and bought Gold in 2006. You would have banked double in just a couple of years.
Deje vu... let me explain what #FakeNews is currently attempting to do....
This is getting to be just like near the end of Bush's 2nd term when the media convinced the people we were in a recession long before it actually happened so Obama would be voted in as president.
It was a self fulfilling prophecy because when you tell people enough that the economy is crashing, they will spend less which will lead us into a real recession.
Now, they are doing it in hopes Trump won't get reelected.
Here's a Google News search ...
https://www.google.com/search?q=rece...w=1366&bih=609
Kudos to Trump for pointing out the media is trying to create a recession so a Democrat will be elected in 2020.
If only Dubya Bush had the guts to say that when they did it to him so Obama would be elected.