27000

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  • 07-12-2019
    davesupra
    27000
    More shitty economic news, I guess we should thank Obama or is it due to Clinton?

    https://www.cnn.com/2019/07/11/inves...day/index.html

    I know, it's a bad indicator of the economy. Only the "wealthy" have stocks. etc etc
  • 07-12-2019
    nealric
    Not a great idea to crow about stock market highs. I vividly remember people writing "Thanks Bush" posts when the Dow hit 14,000 in 2007. A year and a half later it was at less than half that.

    Be that as it may, Trump has managed to avoid breaking the trend that has been ongoing since 2009. I own a lot of stock, and it has benefited me greatly, but I am one of the fortunate few.
  • 07-12-2019
    davesupra
    Quote:

    Originally Posted by nealric View Post
    Not a great idea to crow about stock market highs. I vividly remember people writing "Thanks Bush" posts when the Dow hit 14,000 in 2007. A year and a half later it was at less than half that.

    Be that as it may, Trump has managed to avoid breaking the trend that has been ongoing since 2009. I own a lot of stock, and it has benefited me greatly, but I am one of the fortunate few.

    The market rises and falls, it's the nature of the beast. There are always posts here about Trump screwing up the market when it falls, but crickets when it rises. I'm just filling that void. :D

    Roughly 55% of Americans own stock, I'd hardly say that you are part of the fortunate "few".
  • 07-12-2019
    nealric
    Quote:

    Originally Posted by davesupra View Post
    The market rises and falls, it's the nature of the beast. There are always posts here about Trump screwing up the market when it falls, but crickets when it rises. I'm just filling that void. :D

    Roughly 55% of Americans own stock, I'd hardly say that you are part of the fortunate "few".

    The percentage who own sufficient stock that a rise in the market is meaningful to their financial wellbeing is likely much lower. Old data, but interesting:

    https://www.financialsamurai.com/wha...ns-own-stocks/

    Personally, I don't credit or blame presidents all that much for the stock market. It marches to the beat of its own drummer for the most part.
  • 07-12-2019
    Doctor Falsetti
    Quote:

    Originally Posted by davesupra View Post
    More shitty economic news, I guess we should thank Obama or is it due to Clinton?

    https://www.cnn.com/2019/07/11/inves...day/index.html

    I know, it's a bad indicator of the economy. Only the "wealthy" have stocks. etc etc

    If you bothered to read the link you posted you would know the answer. Your link includes a detailed analysis that clearly says the reason for the spike is that there is a now a good chance of an interest rate cut. Fed chairman is quoted in your link

    Quote:

    "It appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the US economic outlook,"
    Quote:

    Beyond a broader global slowdown, the Fed chair also named in his testimony a number of other risks facing the US economy including muted inflation, ongoing trade tensions and a looming debt ceiling crisis
    Quote:

    The majority of policy makers noted that the "economy had appeared to have lost some momentum" in recent weeks at their meeting, pointing to weaker business confidence, trade tensions and signs of slowing of global economic growth. They also cited worries over risks that might be spurred by federal budget negotiations or a delay in raising the federal debt limit
    You are celebrating because the economy is weakening. Odd.
  • 07-12-2019
    thatsmybush
    Quote:

    Originally Posted by davesupra View Post
    The market rises and falls, it's the nature of the beast. There are always posts here about Trump screwing up the market when it falls, but crickets when it rises. I'm just filling that void. :D

    Roughly 55% of Americans own stock, I'd hardly say that you are part of the fortunate "few".

    Maybe that is because when the market takes a dive Trump says or does some stupid like institute trade wars or try to hold trading partners hostage or rip American businesses for being American business or picking winners and losers or threaten Fed Chairmen. That type of idiocy can have a direct effect on a short term market and the one playing the idiot game should rightly be called out for being an idiot.
  • 07-12-2019
    Opus51569
    Quote:

    Originally Posted by davesupra View Post
    I know, it's a bad indicator of the economy. Only the "wealthy" have stocks. etc etc

    Should have just left it at that and saved yourself the embarrassment.
  • 07-12-2019
    davesupra
    Quote:

    Originally Posted by nealric View Post
    The percentage who own sufficient stock that a rise in the market is meaningful to their financial wellbeing is likely much lower. Old data, but interesting:

    https://www.financialsamurai.com/wha...ns-own-stocks/

    Personally, I don't credit or blame presidents all that much for the stock market. It marches to the beat of its own drummer for the most part.

    "Meaningful" is subjective, any time I get free money from my investments it's "meaningful" to me. :p

    I agree with you about a Presidents influence on the market.
  • 07-12-2019
    Doctor Falsetti
    It is clear in the OP's link that the reason for the spike is the increased likelihood of an interest rate cut due to the economy being in trouble.

    Cutting interest rates is a transfer of wealth from the poor to the rich, makes no sense. Suppressing interest rates creates asset inflation. Who owns assets? Rich people. Who needs a bit of inflation to get better wages? The middle-class.

    Trump's loyal followers are cheering because the economy is in trouble and the middle class are getting screwed. No surprise.
  • 07-12-2019
    Marc
    Quote:

    Originally Posted by Doctor Falsetti View Post
    If you bothered to read the link you posted you would know the answer. Your link includes a detailed analysis that clearly says the reason for the spike is that there is a now a good chance of an interest rate cut. Fed chairman is quoted in your link







    You are celebrating because the economy is weakening. Odd.


    But bigger numbers must be better!! I mean who cares about inflation?
  • 07-12-2019
    troutmd
    Quote:

    Originally Posted by davesupra View Post
    More shitty economic news, I guess we should thank Obama or is it due to Clinton?

    https://www.cnn.com/2019/07/11/inves...day/index.html

    I know, it's a bad indicator of the economy. Only the "wealthy" have stocks. etc etc

    The Dow is not a "bad" indicator of the economy, i.e., prosperity, but just one aspect of a broad range of values. A superior approach would be using The Prosperity Index method which includes such elements as the level of entrepreneurship, public health and longevity, public safety, education, public sentiment towards governing, as well as such things as a stock market index.
  • 07-12-2019
    Doctor Falsetti
    Quote:

    Originally Posted by Marc View Post
    But bigger numbers must be better!! I mean who cares about inflation?

    Threads like this show much Trump has in common with his loyal followers. They both hate to read and both have limited understanding of economic policy.
  • 07-12-2019
    troutmd
    Quote:

    Originally Posted by Marc View Post
    But bigger numbers must be better!!

    Could be.

    What would the Dow be without the Trump Trade Wars ... 29,000 or?
  • 07-12-2019
    troutmd
    Quote:

    Originally Posted by Marc View Post
    But bigger numbers must be better!! I mean who cares about inflation?

    Speaking of numbers and how are American's doing financially, here's a factoid to consider.

    A recent (2018) study finds the median American household has $4,830 in a savings account. Thatís enough to cover minor emergencies and potentially even a few months of living expenses. Overall, between bank accounts and retirement savings, the median American household currently holds about $11,700, according to MagnifyMoney.

    Almost 30 percent of households have less than $1,000 saved, MagnifyMoney finds, though the amount varies drastically by age. As of June 2018, millennials have less saved than baby boomers, because older Americans have had over three decades longer to save and larger salaries to work with.
  • 07-12-2019
    xxl
    Quote:

    Originally Posted by davesupra View Post
    The market rises and falls, it's the nature of the beast. There are always posts here about Trump screwing up the market when it falls, but crickets when it rises. I'm just filling that void. :D

    Roughly 55% of Americans own stock, I'd hardly say that you are part of the fortunate "few".

    The distribution of stock ownership is nowhere near uniform (and the percentage is closer to 50%; cf. https://www.federalreserve.gov/publi...iles/scf17.pdf).

    "To be precise, a narrow majority of Americans does own stocks, according to credible recent studies... Americans of modest incomes are significantly less invested in the stock market than wealthier Americans are. Other large groups, including minorities and those without a college education, also lag in stock ownership, meaning that the stock rally is largely passing them by."

    https://www.politifact.com/californi...ns-own-stocks/

    https://static.politifact.com/politi...2.04.18_PM.png
  • 07-12-2019
    xxl
    Quote:

    Originally Posted by troutmd View Post
    Could be.

    What would the Dow be without the Trump Trade Wars ... 29,000 or?

    ^This.

    How did the Republicans miss that trade wars, tariffs, and such are...wait for it...government regulations?

    And you know how they say they feel about government regulations.
  • 07-12-2019
    davesupra
    Quote:

    Originally Posted by Doctor Falsetti View Post
    Threads like this show much Trump has in common with his loyal followers. They both hate to read and both have limited understanding of economic policy.

    What specific part of this thread shows that?
  • 07-12-2019
    Doctor Falsetti
    Quote:

    Originally Posted by davesupra View Post
    What specific part of this thread shows that?

    Reading really isn't your thing is it?

    If you read your own link,and the rest of the thread, you would see that the reason for the spike is due to a potential interest rate cut due to the weakness of the economy and Trump's trade wars.
  • 07-12-2019
    davesupra
    Quote:

    Originally Posted by Doctor Falsetti View Post
    Reading really isn't your thing is it?

    If you read your own link,and the rest of the thread, you would see that the reason for the spike is due to a potential interest rate cut due to the weakness of the economy and Trump's trade wars.

    Where in this thread did any of "Trumps loyal followers" state anything to the contrary?
  • 07-12-2019
    Doctor Falsetti
    Quote:

    Originally Posted by davesupra View Post
    Where in this thread did any of "Trumps loyal followers" state anything to the contrary?

    More semantic games, not surprised.
  • 07-12-2019
    davesupra
    Quote:

    Originally Posted by Doctor Falsetti View Post
    More semantic games, not surprised.

    Face it, you are projecting an argument against something that none of "Trumps loyal followers" ever stated in the thread.
  • 07-12-2019
    DaveWC
    Quote:

    Originally Posted by davesupra View Post
    Face it, you are projecting an argument against something that none of "Trumps loyal followers" ever stated in the thread.

    So you agree that the rise in the stock markets is in anticipation of a reduced Fed rate, which is a sign of a weakening economy? A weakening economy is generally considered bad news, but you posted this thread to fill the void of bad news about Trump's economy.
  • 07-12-2019
    davesupra
    Quote:

    Originally Posted by DaveWC View Post
    So you agree that the rise in the stock markets is in anticipation of a reduced Fed rate, which is a sign of a weakening economy? A weakening economy is generally considered bad news, but you posted this thread to fill the void of bad news about Trump's economy.

    I don't agree or disagree with that part of the article, I'm not a market analyst nor did I stay at a Holiday Inn Express last night.
  • 07-12-2019
    Marc
    Quote:

    Originally Posted by davesupra View Post
    I don't agree or disagree with that part of the article, I'm not a market analyst nor did I stay at a Holiday Inn Express last night.


    So why post this garbage thing?

    Quote:

    27000

    More shitty economic news, I guess we should thank Obama or is it due to Clinton?

    https://www.cnn.com/2019/07/11/inves...day/index.html

    I know, it's a bad indicator of the economy. Only the "wealthy" have stocks. etc etc

    So you don't take a position on a news item you post. You claim to admit the premise to post the news is flawed in the OP...so why waste everyone's time?
  • 07-12-2019
    DaveWC
    Quote:

    Originally Posted by davesupra View Post
    I don't agree or disagree with that part of the article, I'm not a market analyst nor did I stay at a Holiday Inn Express last night.

    Wow, you should watch out, with a post like that Trump is going to grab you. He's rich, they just do it.