DOW, S&P 500 and NASDAQ close at record highs

[Micawber]

Unprecedented? We had multiple depressions in the 19th century when there was no FDIC and hundreds of banks would close. This was not the second largest financial calamity in U.S. history.

It was one of our weakest recoveries. We did not get one year of 3% growth during his two terms. Last President that happened for was Hoover. And he had easy money policies from the Fed essentially his entire term.

Focus on Bush or Trump all you want but when you come back to Obama those are the facts.

How many trillions were lost in that ag economy before cars? Eye roll.

[cawacko]

How many trillions were lost in that ag economy before cars? Eye roll.

You're going to eye roll at nominal dollar amounts but not percentages of the overall economy?

[cawacko]

I guess that all depends on what you call "more affordable housing loans". Thats a big difference from saying banks new encouraged to make sub prime loans, which they never were.

More affordable loans = subprime. Yes, the government encouraged banks to by raising the percentages GSE had to purchase of subprimes

[Micawber]

https://en.m.wikipedia.org/wiki/Great_Recession

Not sure who you are trying to make look better by downplaying the great global recession but Obama on growth went from minus 4 to plus 2 or 3.

[Русский агент]

Not one liberal is happy about the status of the market right now?

Why is that?

[Micawber]

You're going to eye roll at nominal dollar amounts but not percentages of the overall economy?

Yes. How was that cave man potato famine of 30,000 BC. Now there was real stagflation! The leadership blew.

[Irish]

MAGA!

[cawacko]

Yes. How was that cave man potato famine of 30,000 BC. Now there was real stagflation! The leadership blew.

For sh*ts and giggles have you seen any economist claim it to be the second worst financial calamity in our country's history?

[Русский агент]

In each of the past two quarters of 2017, U.S. GDP grew at a rate of slightly in excess of 3 percent.

In its first year in office, the new administration delivered on its promise of sweeping regulatory relief. Rather than continuing to expand in leaps and bounds, the regulatory state actually contracted in 2017, thanks to the appointment of strong, reform-minded leaders at the Environmental Protection Agency, the Labor Department, the Department of Health and Human Services, and other arms of government. The appointments marked a true paradigm shift — and a great change for the better in clearing a path for faster growth.

It also appears likely that Congress will pass — and the president would sign into law — the first pro-growth tax cuts and reform since the George W. Bush tax cuts in 2001.

In mid-December, U.S. House and Senate negotiators appeared to be close to final agreement on a bill that would cut the corporate-tax rate to 21 percent from 35 percent while lowering the top individual income-tax rate to 37 percent from 39.6 percent on federal tax returns. These changes would take effect as of January 1, 2018.

The National Federation of Independent Business (NFIB) reported that small business optimism now stands at its highest level since the roaring Reagan economy of 1983. “We haven’t seen this kind of optimism in 34 years, and we’ve seen it only once in the 44 years that NFIB has been conducting this research,” said Juanita Duggan, the organization’s president and CEO. “Small business owners are exuberant about the economy, and they are ready to lead the U.S. economy in a period of robust growth.”

Remember the talk in recent years of the U.S. entering “a new normal” of annual GDP growth of no more than 2 percent per annum? And remember the talk earlier this year of a possible deep recession or even depression?

Rather than plunging into the abyss, it seems that the U.S. economy has pulled back from the brink of long-term economic stagnation, and is ready to return the kind of growth last seen in the 1980s and 1990s.









https://spectator.org/america-at-yearend-2017-back-from-the-brink-not-into-the-abyss/