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IF all that Fed money was going into the stock market the P/E ratio would be HUGELY out of whack
I disagree.
QE inflates asset prices, and corporate earnings are heavily influenced by asset prices.
I'm not sure what your logic is, exactly, but it seems to me you're assuming U.S. corporate earnings are a reflection of (A) The American economy, or (B) The American consumer.
Not all corporate earnings are equal, and there's really no fast-and-easy way to measure the quality of earnings.
and they have been awesome. The DJIA was about 6,500 when Obama was elected. At this moment it is 14,866 -- about 600 points off its all-time-high.
And... you're failing to recognize that as the nextartificial bubble to replace the burst housing bubble, which replaced the burst dotcom bubble, because...?
What's YOUR track record?
Did you call the end of the recession and the bottom of the stock market back in 2009?
How about the election? Did you pick Obama to win?
How about the gold collapse - how'd you do on that?
Hmmmmmm
You can lead a wingnut to knowledge, but you can't make him think.
Ken
PS - And, ah - you might work on your spelling. "It's "balfor" not "balfour" (that's someone else).
You do realize that any time you use the phrase 'wingnut' you immediately make yourself look foolish, don't you?
How's unemployment? How about food stamp enrollment? Are these the people landing prime rate mortgages for their overpriced homes?
Unemployment is falling - and with a rate of descent similar to the last recession. It's not a rapid descent, but neither was the recovery from the last recession. This one was just a lot deeper to begin with so it's taking a lot longer to get down to a decent UE rate, but the RATE at which UE is falling is roughly the same at which the rate fell during the early 2000's recession. A graph shows that quite clearly.
Food stamp enrollment is extremely high - so?
It'll come back down as the UE continues to drop. Part of the reason food stamp usage is so high is because a LOT of people were laid off from 2007-2009 so the backlog is enormous. However, another big reason there's so many people on foodstamps is because the government made it so much easier to QUALIFY for food stamps. Even if the economy was doing wonderful, foodstamp usage would STILL be elevated because it's now easier than ever to get foodstamps.
Are buyers getting prime rate mortgages? Some are, some aren't - same as always, so what? If you are implying that folks who shouldn't be getting mortgages ARE getting them, well, that's not so much the case anymore since lending standards are a lot higher than they used to be.
The upshot is, the economy has been recovering for several years now - despite what you may claim - and it will CONTINUE to recover - and little by little more and more Americans are realizing that:
...to anyone who actually thinks for themselves. It makes you look as stupid as using phrases like 'Nobama' and other stupidity like that.
But hey, I guess it is easier to put down one party than it is to critically think through issues on your own, isn't it?
I'm not putting down "one party". I'm putting down wacko EXTREMISTS. Plenty of rational people in the GOP, just not the wingnuts - just as there are some irrational extremists in the Democratic party. The fact is, most of the wingnuts are not even really Republicans, they're Libertarians or Independents (and not all Libertarians or Independents are wingnuts). There' are HOWEVER a LOT of wingnuts on THIS board - just as there are a LOT of Neo-NAZIs and their endless threads on race. Neither of those groups are in the slightest way representative of America as a whole, but there's a lot of them HERE, and in general they are overly dogmatic and pretty much clueless - hence "wingnuts". The term fits, so I use it.
I'm not putting down "one party". I'm putting down wacko EXTREMISTS. Plenty of rational people in the GOP, just not the wingnuts - just as there are some irrational extremists in the Democratic party. The fact is, most of the wingnuts are not even really Republicans, they're Libertarians or Independents (and not all Libertarians or Independents are wingnuts). There' are HOWEVER a LOT of wingnuts on THIS board - just as there are a LOT of Neo-NAZIs and their endless threads on race. Neither of those groups are in the slightest way representative of America as a whole, but there's a lot of them HERE, and in general they are overly dogmatic and pretty much clueless - hence "wingnuts". The term fits, so I use it.
Ken
Using derogatory terms to describe a group of people is hardly the way to start an adult conversation. The term doesn't fit, it is nothing but something thrown around to perpetuate rifts between people instead of trying to actually understand where the other person is coming from and trying to understand how to reach that person on an intellectual level. Talking that way never does any good for the conversation.
I've been saying this for years and all that money goes right into the village idiots donors pockets.. Nice!
Meanwhile back at the ranch millions out of work.. Stopped looking for work.. Food stamps and freebies for everyone! Obammie world!!
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