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Where are you this enthusiastic when the market was soaring under Obama, or was that fake news?
The DOW was at a peak of ~14k when GWB was in office (NOT at the end). It peaked under Obama at ~18k just before the election. For a peak to peak gain of some 4,000 points-in Obama's entire 8 years between elections. Under Trump the DOW is at $25k, up nearly 7000 points since his election. In just over a year.
Seems like Trumpsters are big government types. Trump is some type of god who controls the economy like Kim Jung Un. Trump has immense big government powers. The fact that the EU has seen its best year in more than a decade is also the result of Trump. He is incredible.
Well Trump's button is bigger, or so Trump also tells us. Trump supporters have got to feel good about that too, because (even though there is no button) if we do go ballistic with North Korea, Trump supporters will have another reason to claim we're "winners" about that too, regardless who loses.
That's the "winning formula" these days with Trump and his believers...
Someone should get Bannon a cape.
The new racist bigoted hero of the left needs a cape. He'll look good in tights when he's photographed between Chuck and Nancy. Maybe he was just a good old boy all along. Photos and capes will drive the economy and the stock market.
The DOW was at a peak of ~14k when GWB was in office (NOT at the end). It peaked under Obama at ~18k, for a peak to peak gain of some 4,000 points-in Obama's entire 8 years between elections. Under Trump the DOW is at $25k, up nearly 7000 points since his election. In just over a year.
It doesn't matter when it peaked under GWB....that peak wasn't what Obama inherited. What Obama inherited was a failing mess, and those are verifiable facts. The market was, jobs under GWB were at a LOSS per month and the housing market had many under water.
On the flip side, less jobs were being added under Trump and the market has standard gains....and everyone wants to throw a parade for Trump.
The DOW was at a peak of ~14k when GWB was in office (NOT at the end). It peaked under Obama at ~18k just before the election. For a peak to peak gain of some 4,000 points-in Obama's entire 8 years between elections. Under Trump the DOW is at $25k, up nearly 7000 points since his election. In just over a year.
The stock markets in the rest of the world has boomed just as much. Europe has had its best year in a decade. Trump is not responsible for the business cycle. Lay off what you are smoking!
So you agree with me. Tax cuts aren't supposed to drive business and the economy. Business is.
I don't understand your use of "supposed to". At least in the short term tax cuts for businesses should improve their profits which results in them being viewed as better investments; usually leading to higher stock prices.
Earnings for many businesses were already improving prior to the tax cuts (and Trump assuming office) so their stock prices were already improving and were likely to continue to improve.
In general I have no problem with tax cuts for businesses or people when the government is running a surplus or in order to simulate economic activity during a downturn. These cuts are being done in a healthy economy and when the US is on track to be running annual trillion dollar deficits.
With the tax cuts for the rich, they have already admitted that the big business leaders will do more stock buybacks. They are rewarded financially when the stock price increases and stock buybacks increase the stock price. The top 1% own almost 40% of the stock market in America. They are flying!
I own 400k worth of stocks. Wait 405k. I have never made more than 80k a year. If you don’t own stocks it is nobody’s fault but your own.
If the game is rigged play the game that way. When I was young shooting from 20 feet was not a good idea. Rules changed. Change with them.
I don't understand your use of "supposed to". At least in the short term tax cuts for businesses should improve their profits which results in them being viewed as better investments; usually leading to higher stock prices.
Earnings for many businesses were already improving prior to the tax cuts (and Trump assuming office) so their stock prices were already improving and were likely to continue to improve.
In general I have no problem with tax cuts for businesses or people when the government is running a surplus or in order to simulate economic activity during a downturn. These cuts are being done in a healthy economy and when the US is on track to be running annual trillion dollar deficits.
I basically agree the long term effects are not good. In the next one to two years you better be in the market.
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