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

[Jarod]

Obama’s economy needed a booster rocket, I’ll grant that much lol.

I perfer slow and steady growth to a sugar rush!

[katzgar]

You right wing nutjobs are trying to cover up the fact that the reason all of the market indices are so high is because the rich are all drooling about the tax cut the Republicans just gave only the rich

[cawacko]

You right wing nutjobs are trying to cover up the fact that the reason all of the market indices are so high is because the rich are all drooling about the tax cut the Republicans just gave only the rich

Ok, so why was the market so high prior to tax cuts being proposed? Do you believe the Fed keeping rates at near zero for so many years have anything to do with where the market is today?

[Micawber]

The economic numbers are all fake. The real numbers are horrible.

[Русский агент]

U.S. markets have added $6 trillion in value since the election, with investors around the world wanting in on America’s new growth story.

The Federal Reserve Bank of Atlanta is now forecasting the third straight quarter of U.S. gross domestic product growth around 3%.

It’s not just an American growth story. For the first time in a long time the world is experiencing synchronized growth, which is why Goldman Sachs and Barclays among others have recently predicted 4% global growth in 2018.

The entire world benefits when its largest economy is healthy, and the vibrancy overseas is reinforcing the U.S. resurgence.




https://www.wsj.com/articles/dow-24000-and-the-trump-boom-1513294061?shareToken=st44ea9756a3944eb89b80b56c8b efb076&reflink=article_email_share

[Minister of Truth]

Im very glad Rump has not ruined Obama's trajectory!

Of sub-3% GDP? Please, God, no one screw-up Obama's massive GDP growth!!

[Micawber]

Credit default swaps, subprime mortgage lending and the use of home equity for free loans made possible by the housing bubble caused a great recession
that Bush handed off to Obama. Obama inherited an economy in freefall and actual contraction.

Obama governed over an inflection point that turned the economy back in to a growth economy. There is no rate of real growth that can equal
the accomplishment of inflecting the economy from the throes of an economic recession. Obama's feat beats anything Trump could possibly accomplish,
especially this anemic growth these Trumptard fascists are touting.

And fuck sake, Trump doesn';t even believe economic indictors are real. They are all fake, right? Remember?

[cawacko]

Credit default swaps, subprime mortgage lending and the use of home equity for free loans made possible by the housing bubble caused a great recession
that Bush handed off to Obama. Obama inherited an economy in freefall and actual contraction.

Obama governed over an inflection point that turned the economy back in to a growth economy. There is no rate of real growth that can equal
the accomplishment of inflecting the economy from the throes of an economic recession. Obama's feat beats anything Trump could possibly accomplish,
especially this anemic growth these Trumptard fascists are touting.

And fuck sake, Trump doesn';t even believe economic indictors are real. They are all fake, right? Remember?

The great recession was caused by a credit bubble inflated by cheap borrowing that resulted from low interest rate policy of the Fed. Federal affordable housing policy encouraged banks to make subprime loans and then you have the GSE's sitting there to purchase them and boom, we were off.

The fact is Obama presided over one of our weakest economic recoveries. The bigger the downfall the more room on the upswing but we didn't capture it and this was with a Fed that gave him cheap money all along.

So I'm not saying a thing about Trump but I am speaking to Obama's record.

[floridafan]

The great recession was caused by a credit bubble inflated by cheap borrowing that resulted from low interest rate policy of the Fed. Federal affordable housing policy encouraged banks to make subprime loans and then you have the GSE's sitting there to purchase them and boom, we were off.

The fact is Obama presided over one of our weakest economic recoveries. The bigger the downfall the more room on the upswing but we didn't capture it and this was with a Fed that gave him cheap money all along.



So I'm not saying a thing about Trump but I am speaking to Obama's record.

No one was ever encouraged to make sub prime loans, Homer. You are totally ignorant of everything. In FACT banks did not even make the majority of sub prime loans, ignoramus.

[Русский агент]

The promise of tax relief is raising profit expectations for the S&P 500, now expected to rise by double digits in 2018.

For pass-through businesses, which employ more than half of private-sector workers, a large tax cut would have a significant effect.

On the individual side, much of the tax debate has unfortunately not been about economic growth but about trying to ensure that high-income earners don’t benefit from relief—even though the top 10% of earners paid nearly 71% of federal income taxes in 2016.

Stephanie Pomboy of MacroMavens notes that the top 20% spend more than the bottom 60%, and it’s worth remembering that consumer spending is two thirds of the economy.


https://www.wsj.com/articles/dow-24000-and-the-trump-boom-1513294061?shareToken=st44ea9756a3944eb89b80b56c8b efb076&reflink=article_email_share

[Micawber]

The great recession was caused by a credit bubble inflated by cheap borrowing that resulted from low interest rate policy of the Fed. Federal affordable housing policy encouraged banks to make subprime loans and then you have the GSE's sitting there to purchase them and boom, we were off.

The fact is Obama presided over one of our weakest economic recoveries. The bigger the downfall the more room on the upswing but we didn't capture it and this was with a Fed that gave him cheap money all along.

So I'm not saying a thing about Trump but I am speaking to Obama's record.

His record is unprecedented. He was charged with recovering from the second largest financial calamity in US history and he got the job done without a World War to provide the pretext for massive stimulus spending.
It is unprecedented. There is NO metric to compare it to whatsoever other than the undeniable fact that he accomplished it. From collapsed economy to a growth economy without massive inflation. Jobs from 9 or 10 unemployment to about 5.
Stocks from 7K to 19K. Every penny of the money lost in real estate values was recovered under his two terms. Thats TRILLIONS of wealth and about a half million for me. No thanks to Bush or Trump.

You left out the housing bubble causing people to use their home equity as a piggy bank that propped up consumer spending under Bush. People who were smart enough to do that actually ripped off the lenders.

[Русский агент]

After reaching Dow 24000, where can markets and the economy go from here?

I’m not going to make predictions, but it stands to reason that the economy is better off when federal policy doesn’t discourage people who have a demonstrated ability to work, earn, spend and invest.

As the end of the Trump administration’s first year approaches, it’s a good time to review the progress of the businessman elected on a promise to restore American prosperity.

Year One has been nothing short of excellent from an economic standpoint. Corporate earnings have risen and corporate behavior has changed, measured in greater capital investment. A new approach to regulation is a big factor.

During Obama’s final year in office the Federal Register, which contains new and proposed rules and regulations, ran to 95,894 pages. This was the highest level in its history and 19% higher than the previous year’s 80,260 pages.

The last administration burdened the economy with 549 million hours of compliance, averaging nearly five hours of paperwork for every full-time employee.

Behind these numbers are countless business owners who have told me they set aside cash for compliance, legal fees and other costs of regulation. That money could have been used to fund projects that strengthened their businesses.

President Trump has charted a new course, prioritizing the removal of red tape and rolling back regulations through executive orders. The Federal Register page count is down 32% this year. Trump says red tape becomes “beautiful” when it is eliminated, and people who manage businesses certainly agree.

The prospect of tax relief is also raising expectations for growth, as the U.S. prepares to reduce the industrialized world’s highest corporate income tax rate. As with regulation, U.S. businesses don’t need to have the lightest burden; they only need one that’s competitive with the rest of the world.




https://www.wsj.com/articles/dow-24000-and-the-trump-boom-1513294061?shareToken=st44ea9756a3944eb89b80b56c8b efb076&reflink=article_email_share

[cawacko]

No one was ever encouraged to make sub prime loans, Homer. You are totally ignorant of everything. In FACT banks did not even make the majority of sub prime loans, ignoramus.

Seeing in the last post I saw of yours you called the person a "cum quat" you'll excuse me for not going into great detail in the response as I don't think it worth the effort.

The government did in fact push for more "affordable housing" loans and Fannie and Freddie were to purchase them.

[cawacko]

His record is unprecedented. He was charged with recovering from the second largest financial calamity in US history and he got the job done without a World War to provide the pretext for massive stimulus spending.
It is unprecedented. There is NO metric to compare it to whatsoever other than the undeniable fact that he accomplished it. From collapsed economy to a growth economy without massive inflation. Jobs from 9 or 10 unemployment to about 5.
Stocks from 7K to 19K. Every penny of the money lost in real estate values was recovered under his two terms. Thats TRILLIONS of wealth and about a half million for me. No thanks to Bush or Trump.

You left out the housing bubble causing people to use their home equity as a piggy bank that propped up consumer spending under Bush. People who were smart enough to do that actually ripped off the lenders.

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.

[floridafan]

Seeing in the last post I saw of yours you called the person a "cum quat" you'll excuse me for not going into great detail in the response as I don't think it worth the effort.

The government did in fact push for more "affordable housing" loans and Fannie and Freddie were to purchase them.

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.