Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
There was a long thread here from a Trump lover who bragged that the DOW was 25300 and headed up big time due to the Tax Reform, tariffs wars and other "great" policies.
That post was made at the start of 2018 which, to be fair, was EXACTLY when Trump policies went into effect. It's really his single "signature" piece of legislation...the Deficit and Debt increasing "Tax Reform".
On that thread we accurately kept track of moves since that time.
Now we are well over two years in from his major changes. The only thing he really did after that was to force interest rates lower (by tweet and who knows how else) therefore making it harder for savers to earn interest. He declared himself "King of Debt" and that's that.
So, in the interest of reason, let's look at the DOW since then. The S&P is close...and, realistically, those indexes mean most everything. Anecdote is just that.
And so
25,300 - at the start of "tax reform" and most everything else like tariff wars.
28,900 - 26 months later
The compounded yearly return (2.2 years...which would officially be in a week or two) would be less than 7%.
7% would be DOW 29,360
No one in their right mind can call that "great". You just can't. I've averaged at least 10.5% over 30 years and the market has been something like 9.7% since 1980. Good mutual funds like Fidelity Magellan have been 13-14% since 1980 and Buffet has been 20%.
But this shows how people react to the old thumbscrews. Things went down...and didn't go up...for most of the last 26 months. So now, when they revert to LESS than the mean, people say it's "great".
Of course it is! Before I thought I lose 10% of my portfolio or more (gains I would normally make)...and now I have made 30% less than normal gains. I'm happy!
It really makes me consider that many don't know basic math.
I had a really smart friend staying with me a week ago. He was talking about "new highs" in the market. I stated "The DOW could hit a new high every trading day of the year and still be way behind the norms."
He looked at me funny.
Example - DOW 28K for 250 trading days (a year) it goes up 10 points EVERY day. Well, at the end of the year the return is still less than norms and FAR from "great".
We have never had so many people over 75 working. Lots of jobs out there.
Amazon needs you.
But, really, how many of these jobs pay a living wage, benefits and have job security? In Florida here, 45% of the population is not making it. That's very relevant since most of those people are working. Most of them have either multiple jobs or multiple people working in the household.
Trump didn't create this..of course! But, at the same time, GOP policies are very "pro-this". Rick Scott and his friends in Florida certainly didn't raise the minimum wage...quite the opposite. They didn't add money to programs (in the amt needed) to raise up these folks.
AND, these people are not living in McMansions. They likely live with other family members in small old ranch houses.
I guess 63.39 was the magic number Obama needed to pass for Conservatives to give him credit for the economy eh? Now that we're at 63.4, we don't need to claim anything less than 65.7% is a failure.
You guys point to the reduction in the LFPR as Obama's failure. Trump has only "recovered" 15% of that loss after 3 years. I don't know how you call that a success when he's barely reversed what you guys called a failure.
If Trump does it, then it is automatically great because he says it is.
Are Obama haters and Trump haters willing to agree on the following bipartisan and truthful statement?
"Barack Obama pulled the US economy out of the recession. America's economy saw five straight years of growth under Obama from 2012 to 2017. Under three years of Trump, the economy has continued to grow from 2017 to present. Both Barack Obama and Donald Trump deserve credit for the economy doing well"
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
