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That's what it would need to do for Trump to be able to claim that it's matching the performance it had under Obama.
Quote:
Here's one other way to think about it: If during the upcoming administration of President-elect Donald Trump, the stock market were to replicate the success it enjoyed under Obama, rising by a factor of 2.5, then the Dow Jones industrial average -- which currently stands at just under the 20,000 level -- would have to climb all the way up to 50,000
For now, maybe he gets credit for a single base run (to the extent a President can even claim credit for the market which is subject to debate). But not for being born at third base and claiming he hit a triple.
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68,281 posts, read 54,060,469 times
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Quote:
Originally Posted by emm74
That's what it would need to do for Trump to be able to claim that it's matching the performance it had under Obama.
Obama & the Stock Market: How Stocks Have Performed | Money
For now, maybe he gets credit for a single base run (to the extent a President can even claim credit for the market which is subject to debate). But not for being born at third base and claiming he hit a triple.
Credit for what? The DJIA gained more percentage-wise during Obama's first 6 months in office than during Trump's.
Everybody knows that the stock market was in a steep nosedive right before Obama was sworn in. So no, that kind of performance is not likely under Trump (although you never know).
Realistically, if all goes well, the DOW Jones Industrial could be at 30,000 after 4 years and 40,000 after 8 years under Trump.
Credit for what? The DJIA gained more percentage-wise during Obama's first 6 months in office than during Trump's.
I'm trying to play nice and not make this specifically anti-Trump. Just wanted to put a pin the excessively inflated claims out there because of hitting 22,000. So sure, I can be magnanimous and say ok, so far, so good. But if Trump gets credit for that, then Obama gets full credit for presiding over the third highest increases in the market since World War II - because it's not about the raw numbers, it's about where it starts and where it ends up and the percentage of the increase or decrease.
lmao..It's the highest ever and it still isn't good enough for the Trump haters. You people have serious issues.
And this would be exactly what I'm talking about. The raw number isn't the whole story because Trump inherited a market that was already at historic highs.
Location: By the sea, by the sea, by the beautiful sea
68,281 posts, read 54,060,469 times
Reputation: 40571
Quote:
Originally Posted by emm74
I'm trying to play nice and not make this specifically anti-Trump. Just wanted to put a pin the excessively inflated claims out there because of hitting 22,000. So sure, I can be magnanimous and say ok, so far, so good. But if Trump gets credit for that, then Obama gets full credit for presiding over the third highest increases in the market since World War II - because it's not about the raw numbers, it's about where it starts and where it ends up and the percentage of the increase or decrease.
In all honesty I think the market's as much smoke and mirrors as anything else given it can be driven by computers constantly making deals based on trend shifts measured in fractions of pennies having nothing to do with how the companies represented by those stocks are actually doing. But if people are gonna try to sell the POTUS as the cause they're gonna have to show their guy's market as exceptional to others.
In all honesty I think the market's as much smoke and mirrors as anything else given it can be driven by computers constantly making deals based on trend shifts measured in fractions of pennies having nothing to do with how the companies represented by those stocks are actually doing. But if people are gonna try to sell the POTUS as the cause they're gonna have to show their guy's market as exceptional to others.
Yes, exactly this, especially the bolded.
The True Believers are out in force giving credit to Trump for this "historically high number!" while ignoring what the market did under Obama. If they want to claim Trump gets credit, then Obama gets credit too, and they need to look at the starting points each inherited when they took office.
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