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.
Printable View
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: