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In other positive news, Fed Chairman Powell said the following this week. Note his acknowledgement of the role of fiscal stimulus - 2017 tax law. Btw, “this strong performance to continue” refers to the strong performance of the overall economy under President Trump’s leadership.
I am very certain that wall streeters, fed members and all who know them are doing quite well by the borrowing of money, increasing of debt and deficit (to be paid by others children) and the higher prices for health care, energy, etc....
But my take is that "I'll make the rich richer on the backs of future generations" wasn't the rallying cry of this administration? Maybe I heard it wrong......
Meanwhile, talk is talk. The OP referenced the DOW, which I think was almost 1,000 points higher 7 months ago. Am I right or wrong on this??
Personally, I wouldn't care if the stock market was up 40% in a year. I would still want any and all criminals in and related to this "swamp" taken down. We can't have such people in charge of our common good.
With the DOW all three ended the week in the green, apparently unaffected by politics of the day.
Typical "stock market" reporting. I've heard it for decades. The market goes way down and then the Press and Wall Street types (and their followers) champion how UP everything is...without putting it in context.
Let's be basically accurate based on the OP and thread title.
The Dow would have to exceed 27,500 to even be up a serious amount (10% YTD). It would have to exceed 28,600 to be up 10% from the highs 7 months ago.
And for a real "blow-out" type year like many under the Clinton years, it would have to be up 15-20%, which would mean 30K or so.
At 30K we'll talk about a great year. Until then it's simply interpretation based on when you want to freeze time. There has been a relatively even upslope since 2009, but still nothing record breaking. Sales of most things are always up because - lo and behold - our population goes up, prices go up and more people elsewhere in the world have become middle class.
At the same time, by realistic measures, the average American has seen their wages and benefits go nowhere for 40 years...nowhere but down when debt and deficit is figured in.
But, hey, if everyone approves of massive debt and dumping it on your children and grandchildren...so be it. Not much I can do to convince folks that this is selfish. Short of terrible recession, depression or war we shouldn't be deficit spending.
If things are so great, why isn't the debt or deficit being lowered? Period. You have no answer to that because it is obvious. The rich are getting richer while some other in the other classes are going more in debt to buy some "things" and thinking they are better off.
Despite President Trump's declaration that he would eliminate the national debt over eight years, the debt-to-Gross Domestic Product ratio has reached its highest level since after World War II, according to a new report from the Congressional Budget Office (CBO)... In April 2017, Mr. Trump told the Washington Post he intended to eliminate the national debt "over a period of eight years." But his administration's push for tax cuts, combined with significant spending increases passed by Congress and signed into law by the president on top of already increasing non-discretionary spending, have driven the debt up, not pulled it down. The national debt topped $21 trillion for the first time in U.S. history earlier this year.
Problem is one day will come and all that debt you owe comes due.
We are certainly leaving a sad legacy and inheritance to our children and Grandchildren,
just because we can't control our spending or make a budget and stick to it.
The expression means I was not able to follow your reason or logic.
Yet again.
You picked up a comment I actually directed toward someone else, a comment I had hopes might inspire a return of some reason and logic I can better understand and appreciate...
"Your thread." True, and no doubt the title of your thread drew me here as I've also confirmed more than once in this thread. Unfortunately, that caused me to "find" you.
Right again, you lost nothing, other than my understanding and respect. No worries about any of that, because I can tell you could care less what anyone thinks contrary to what you insist, but frankly, I wasn't asking or hoping for YOUR reply. I was addressing others who might consider this subject a little more carefully. You are like a mother hen with this thread of yours, proudly clucking more and more with each day.
Cluck away! I'll try again not to make the mistake of trying to get a comment in edge wise or thinking it can make a bit of difference to anyone anyway...
You really don't understand. I don't want anyone to care what someone else thinks.
That's the whole deal.
They, IMO, should care what they think. Not here for advice. I have yet to find a stranger that cared more about me than I do. No short supply of those who would love to relieve me of the burden of my money or tell me what to do with it. This isn't a serious thread that anyone should be giving advice to others in. No rule against it either. People can post whatever they want and should be prepared to defend it, if they desire.
Everyone is welcome to share what they are doing and why and that is the difference but no one is required to do anything.
What someone is doing and why is more interesting, IMO. Then we all see the results and learn something from that. I'm personally doing things that most people wouldn't be advised to do. The odds are against me. Everyone can see if I win or fail. They can decide what mistakes I make and avoid them hopefully. IMO, the DOW is set to make a new high soon and here I am on the sidelines looking to buy in but I'm in no hurry.
You are welcome here anytime but if you want to take your ball and go home that's OK too.
Its been a lot of fun, no harm.
In other positive news, Fed Chairman Powell said the following this week. Note his acknowledgement of the role of fiscal stimulus - 2017 tax law. Btw, “this strong performance to continue” refers to the strong performance of the overall economy under President Trump’s leadership.
Problem is one day will come and all that debt you owe comes due.
We are certainly leaving a sad legacy and inheritance to our children and Grandchildren,
just because we can't control our spending or make a budget and stick to it.
It can be balanced, but it takes action. Nobody in Washington is willing to cut unnecessary programs, and departments. Trump is trying to, but he hits a lot of resistance from the Libs.
Is the finical media lying to us ? Maybe that's the reason people get confused about the ability of a President to effect the market.
Economic policy, Trade policy, of a President does or doesn't have effect ?
No wonder people get confused.
(DOW gaps up busting 26,000) Now the President exposes the levers to move the markets. Done with a tweet.
Stock market gathers momentum in early trade after Trump tweets 'big deal looking good with Mexico'
What do we have here?
new all time highs in the S&P500, NASDAQ, and Russel2000?
beware as it is month end, brokers will probably mark up their book
Sometime back there were those warning of a false breakout. With a positive trade deal announcement. Its quite possible for a new high in the DOW. If we get better trade terms than we had, maybe only 25% better, it would have a very positive effect on the economy. IMO The media could put a negative spin on it but the investors will tell the tail with their money regardless what the media spin is.
Obama was a placeholder President. Holding the position until a real President could be elected. Along came Trump who ushered the POS liar out. Obama lied about everything including 2% GDP is the new normal. Obama's legacy of corruption will be the worst and most dangerous of any President ever to date. A study in what not to do as President. That's all you can hope for but you can ask for anything.
The Dow is on the verge of busting out of correction phase for the 1st time in 6 months. A close at 25,886.52 or higher is needed.
I wonder if anyone will sell when/if it hits a new high.
Will price fill the gap just below the high on this wave up ?
S&P 500, Nasdaq Composite have already exited correction phase.
Yes, keep repeating the same thing. It makes it true. Just ask the President and his supporters.
Ok, first off -
Quote:
Along came Trump who ushered the POS liar out
1. That implies that Trump defeated Obama. He didn't.
2. That implies that Obama is a liar. I suppose you might find an untruth somewhere in those 8 years. But given what is going on today, have you not been paying attention that what Trump has been doing isn't misleading or mistaken... it has been flat out lying to the American people. I don't know, that's a weak argument on your behalf.
Then
Quote:
2% GDP is the new normal
Maybe. I'd say Trump has done nothing to disprove that. After we began the climb out of the recession left behind by Bush, Obama's GDP (if you believe he is personally responsible the way Trump is personally responsibe) was:
2.6%
1.6%
2.2%
1.8%
2.5%
2.9%
1.6%
And Trump's only year so far that we have to compare to....
2.2%
Yeah, real stellar there. Go make that GDP argument after 2019. Then he'll have 3 years under his belt. You guys all jumping about this 4% GDP from the last quarter. It is a great number. But the quarter before that.... 2.2%.
If Trump is as awesome as he says he is, he should be obliterating Obama's 2.9% every year. But guess what? Obama's average is around 2.2%. And as of RIGHT now, the only year we have for Trump, 2017... 2.2%.
But yeah, keep harping on about how great he is on the economy. "The DJIA is the highest it has ever been!" I'd sure hope so. Man, that FDR must've been a real crappy President since the DJIA was only 1000 or so back then. When we have sustained growth in the DJIA for 7+ years under a President, get back to me. The DJIA went up three-fold from its low shortly after Obama took the reins from Bush.
When the DJIA hits 60,000 then we can talk about success as per your own standards.
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