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Obama spent most of his presidency blaming Bush. The only thing he did to recover the economy was just throw a ton of money at it, and keep printing currency. It wrecked our credit rating for the first time and jacked up the national debt to epic levels.
Not the full story, but sure - whatever. And Trump has done exactly what to fix this? Get into Twitter Wars?
Again, righties, you can't have it both ways. Only one or the other is true:
- The stock market is the full measure of the economy, and since it skyrocketed from a terrible low under Obama to new highs, he is one of the greatest presidents ever. Trump, having only ridden his coattails, is "decent" but that's about it.
- The economy never really recovered and various measures taken to fix it were not helpful or good ideas. This means NEITHER Obama nor Trump has done much of anything useful to fix the economy.
That's it. Pick your choice - both could be argued, and the truth lies somewhere in the middle - but "Trump is great and Obama sucks" is nothing but fact-free partisan idiocy. In short, the type of sad little nonsense I fully expect from this forum and the cultists that populate it.
I've never been one to attempt to time the market. The only reason I have taken some money out now is that I'm approaching retirement and it would be really inconvenient for me to live through another2007/ 2008 type decline.
The only other time I thought about selling most of my portfolio in a serious way was in early 2008. I did not which was probably good, because I'm pretty sure I would not have bought back in Feb 2009.
Having watched the markets for several decades now, it is possible that those buying in now are buying in at a top. Much of the benefit of the tax cut and reduced government regulations is likely already priced in. At full employment there could be a huge labor cost for expanding labor intensive businesses. Its less than clear that earnings can catch up to current prices.
Having lived through several market turns its amazing how quickly the rhetoric concerning the markets can change. Economists are way better at telling you about what just occurred then predicting what will occur.
I agree that buy and hold with consistent monthly investments is the way to go and the rising p/e does indicate much of the tax cuts are already priced in but I feel there is a way to go. I could retire if not for health insurance but I remain aggressive in my investments. At my age I might moderate that at the first 10% drop. I still think not all thee tax cuts are priced in.
If you payed attention to what you posted, you'd see that the prediction came from Citigroup, not CNN. They just reported on the prediction.
True, but this is the same group of cultists who believe every bit of nonsense Breitbart makes up and publishes, but then slam CNN for reporting somebody else's report. They aren't interested in facts - just partisan nonsense.
Not the full story, but sure - whatever. And Trump has done exactly what to fix this? Get into Twitter Wars?
Again, righties, you can't have it both ways. Only one or the other is true:
- The stock market is the full measure of the economy, and since it skyrocketed from a terrible low under Obama to new highs, he is one of the greatest presidents ever. Trump, having only ridden his coattails, is "decent" but that's about it.
.
No comparison. It rebounded to prior norm under BO in 8 years. Good, not great.
It skyrocketed to tremendous never before seen (tens of thousands number) highs in 1 year-Trump.
We are looking at a gain approaching 50% of its Election Night DJ in 13 months. MAGA-nificient.
You left out that part where we had the worst economic crisis since the Great Depression.
And historically we have a recession every 7-8 years. All these gains can easily be wiped out in a matter of months, why is this so MAFA-nificient?
50% gain in 13 months from a natural level (not the rock bottom March 2009 level) is unprecedented. Obama largely saw a reset to the early 2008 DJ level, with a small increase in addition, but if you mapped say January 2008 DJ to January 2017, it was pretty modest in terms of % gain.
Most here thought 20k would not happen, and within 12 months of inauguration, we hit 25k.
This is unseen territory and benefits tens of millions with their 401ks.
One day soon it will all come crashing down and the country will know just how inept or sick Trump truly is.
Last edited by TreeBeard; 01-04-2018 at 06:25 PM..
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