Stock market hits new high!!!

[JimL]

The stock market hits record high at 37,090.23. Trump was constantly touting the stock market during his term in office. He once said that "the market is booming and they want to impeach me. Can't I get credit for anything, he said?" He also said that "if Biden is elected the stock market will crash!" Wrong again!
Well people, righties, considering what Biden inherited, what he was faced with when he took office, what excuse will you come up with now to explain the Biden economy, the booming stock market, the falling inflation, the rising wages, the low unemployment (another 200,000 jobs created last month). And how about that highly predicted recession that never happened. Go back to the echo chamber now and see what nonsense your handlers have to feed you about how terrible Bidens economy is.

[Ronson]

The stock market hits record high at 37,090.23. Trump was constantly touting the stock market during his term in office. He once said that "the market is booming and they want to impeach me. Can't I get credit for anything, he said?" He also said that "if Biden is elected the stock market will crash!" Wrong again!
Well people, righties, considering what Biden inherited, what he was faced with when he took office, what excuse will you come up with now to explain the Biden economy, the booming stock market, the falling inflation, the rising wages, the low unemployment (another 200,000 jobs created last month). And how about that highly predicted recession that never happened. Go back to the echo chamber now and see what nonsense your handlers have to feed you about how terrible Bidens economy is.

Yeah, that's better than a bear market. But I wouldn't get too excited about a "record high" since the market sets new highs on closing, on average, 25 times per year (according to historical records).

I analyzed the 16,431 trading days between 1/3/1950 and 4/22/2015, using closing data only and did not pay any attention to volatility during the trading day
The percentage of days where the S&P 500 set a brand-new high was 6.96%. Put into annual terms, that's about 25 days every year.

https://www.forbes.com/sites/davidma...h=399a4ebd6c80

[seanD]

Stock market is not the economy, as the polls should clearly indicate, in spite of what Trump or Biden brags about. Traders are excited because the Fed just indicated they're at the end of QT and implying they're about to cut the Fed fund's rate next year. And inflation isn't "falling." The CPI is lower which means inflation is slowing. But that doesn't necessarily mean prices are falling, just that they're not rising as fast as when the CPI was at 9% last year. If you're going to cheerlead for Biden, at least get the economic data correct.

[Ronson]

Stock market is not the economy, as the polls should clearly indicate, in spite of what Trump or Biden brags about. Traders are excited because the Fed just indicated they're at the end of QT and implying they're about to cut the Fed fund's rate next year. And inflation isn't "falling." The CPI is lower which means inflation is slowing. But that doesn't necessarily mean prices are falling, just that they're not rising as fast as when the CPI was at 9% last year. If you're going to cheerlead for Biden, at least get the economic data correct.

Not to mention that wages always rise with inflation. The problem is they always lag behind it. A 4% wage increase isn't anything to get excited about when inflation is 6%

Generally, I never believed presidents can do much to invigorate the economy, as much as they can damage it.

[seanD]

Not to mention that wages always rise with inflation. The problem is they always lag behind it. A 4% wage increase isn't anything to get excited about when inflation is 6%

Generally, I never believed presidents can do much to invigorate the economy, as much as they can damage it.

You are correct. The POTUS pretty much has little to nothing to do with economic matters. The Fed is pretty much in complete control of the economy, because they create inflation and then cause recession or deflation when they fight inflation. And they almost completely affect the market with their actions. The only thing the POTUS affects is the debt and deficits, which isn't even entirely his doing either because congress facilitates that too.

[Sparko]

The stock market hits record high at 37,090.23. Trump was constantly touting the stock market during his term in office. He once said that "the market is booming and they want to impeach me. Can't I get credit for anything, he said?" He also said that "if Biden is elected the stock market will crash!" Wrong again!
Well people, righties, considering what Biden inherited, what he was faced with when he took office, what excuse will you come up with now to explain the Biden economy, the booming stock market, the falling inflation, the rising wages, the low unemployment (another 200,000 jobs created last month). And how about that highly predicted recession that never happened. Go back to the echo chamber now and see what nonsense your handlers have to feed you about how terrible Bidens economy is.

OOOOH! Wow!!! It finally caught up to where it was before Joe's policies tanked it! The previous high was 36,800 back in Jan 2022. It took two years before it finally climbed back up to where it was.

The cynic in me says it is because next year is an election year and Biden wants to claim he has a good economy, so he is telling the Fed to back off and stop raising interest rates.

[rogue06]

Stock market is not the economy, as the polls should clearly indicate, in spite of what Trump or Biden brags about. Traders are excited because the Fed just indicated they're at the end of QT and implying they're about to cut the Fed fund's rate next year. And inflation isn't "falling." The CPI is lower which means inflation is slowing. But that doesn't necessarily mean prices are falling, just that they're not rising as fast as when the CPI was at 9% last year. If you're going to cheerlead for Biden, at least get the economic data correct.

Exactly. Inflation continues to rise but not as quick as it was. But for the low information voters that these sort of claims are directed toward, they (like little jimmy here) will actually fall for it. The fact is it is still well over twice the rate it was when the duffer first stumbled into the White House.

These are the same idiots who bought into the claim that when inflation rate leveled off that meant the inflation rate was now at 0%.

Or after the government forcibly closed tens of thousands of businesses and then allowed them to reopen, started claiming they "created" new jobs.

Unfortunately there will always be the little jimmies who buy this crap hook, line and sinker. One can only hope they don't vote.

[Cow Poke]

I am underthrilled.

[rogue06]

OOOOH! Wow!!! It finally caught up to where it was before Joe's policies tanked it! The previous high was 36,800 back in Jan 2022. It took two years before it finally climbed back up to where it was.

The cynic in me says it is because next year is an election year and Biden wants to claim he has a good economy, so he is telling the Fed to back off and stop raising interest rates.

We'll likely see all sorts of glowing economic reports that will be quietly walked back after the election.

Sort of like we saw in 2022.

[Mountain Man]

Exactly. Inflation continues to rise but not as quick as it was. But for the low information voters that these sort of claims are directed toward, they (like little jimmy here) will actually fall for it. The fact is it is still well over twice the rate it was when the duffer first stumbled into the White House.

These are the same idiots who bought into the claim that when inflation rate leveled off that meant the inflation rate was now at 0%.

Or after the government forcibly closed tens of thousands of businesses and then allowed them to reopen, started claiming they "created" new jobs.

Unfortunately there will always be the little jimmies who buy this crap hook, line and sinker. One can only hope they don't vote.

Those of us who actually work for a living and pay our own bills know how bad the economy really is, and no amount of gaslighting from low information morons like Jimmy will change reality.

[Cow Poke]

Those of us who actually work for a living and pay our own bills know how bad the economy really is, and no amount of gaslighting from low information morons like Jimmy will change reality.

C'mon, man, does Joe ever lie? He says you're doing great.

[rogue06]

C'mon, man, does Joe ever lie? He says you're doing great.

He and his family have been doing very well indeed.

[JimL]

OOOOH! Wow!!! It finally caught up to where it was before Joe's policies tanked it! The previous high was 36,800 back in Jan 2022. It took two years before it finally climbed back up to where it was.

The cynic in me says it is because next year is an election year and Biden wants to claim he has a good economy, so he is telling the Fed to back off and stop raising interest rates.

How quickly you choose to forget, or should I say never acknowledged in the first place. The blinders just never come off.
The economy crashed (due to the pandemic and Trumps poor response to it. ("Don't worry people, it's nothing, it'll just go away") was his initial response. But we needn't argue about that. The response, whatever you think of it, it didn't work. The economy, in all its aspects, crashed. So in 2019 Trump signed a 2.2 trillion dollar stimulus plan, paid out to individuals, small businesses, and corporations,(funny thing, I don't recall the republican outcry over that plan ) Btw, Trump also increased the debt by, don't quote me, but if I remember correctly, but I believe it was by some 8 trillion dollars. Funny thing,I don't recall the republican outcry over that either.
Anyway what you love to ignore is that regardless of Trumps 2.2 trillion dollar stimulus, the economy, when Biden took office, though lifted some by the Trump stimulus, was still in the tank. Unemployment was a 6.7% , the pandemic was still running rampant. Biden, similar to Obama on his first day in office inherited "one" of the worst economic conditions in history. Yeah, he had to spend money, just as did Trump, in order deal with the pandemic and support the economic recovery. Yes, that, "along with corporate price gouging", caused the inflation rise. But, you have your choice, you either let the economy further crash, or you stimulate it and cause inflation to rise. And again, don't ignore the effect of corporate price gouging as part of the cause of rising inflation. But, all in all, the Biden plan worked, inflation, a necessary factor on the plan is way down, wages are going up, unemployment at 3.6% , which is what economist basically see as full employment, GDP is way up and relatively speaking the U.S. has recovered from the world wide economic pandemic disaster faster and is in better shape than all of the major countries in the world. And with all of that Biden also passed an infrastructure bill (something Trump had constantly promised to do, but, even with his $8 trillion debt increase, never did do) and Biden invested billions in aid to Ukraine which in their war against our enemy, Russia, has decimated Russias military.

Oh, and by the way, dont forget, that the economic recession that nearly every economist predicted, NEVER HAPPENED! And unfortunately for you Biden haters the economy keeps getting better and better and is expected by the FED, not to mention Stock Investers, to continue in that upward direction. The FED is now expected to bring down interests rates by 1.25% or more next year. Take the blinders off, and get yourselves out of the echo chamber of alternate facts that the plutocrats are feeding you via propaganda media!

[Sparko]

How quickly you choose to forget, or should I say never acknowledged in the first place. The blinders just never come off.
The economy crashed (due to the pandemic and Trumps poor response to it. ("Don't worry people, it's nothing, it'll just go away") was his initial response. But we needn't argue about that. The response, whatever you think of it, it didn't work. The economy, in all its aspects, crashed. So in 2019 Trump signed a 2.2 trillion dollar stimulus plan, paid out to individuals, small businesses, and corporations,(funny thing, I don't recall the republican outcry over that plan ) Btw, Trump also increased the debt by, don't quote me, but if I remember correctly, but I believe it was by some 8 trillion dollars. Funny thing,I don't recall the republican outcry over that either.
Anyway what you love to ignore is that regardless of Trumps 2.2 trillion dollar stimulus, the economy, when Biden took office, though lifted some by the Trump stimulus, was still in the tank. Unemployment was a 6.7% , the pandemic was still running rampant. Biden, similar to Obama on his first day in office inherited "one" of the worst economic conditions in history. Yeah, he had to spend money, just as did Trump, in order deal with the pandemic and support the economic recovery. Yes, that, "along with corporate price gouging", caused the inflation rise. But, you have your choice, you either let the economy further crash, or you stimulate it and cause inflation to rise. And again, don't ignore the effect of corporate price gouging as part of the cause of rising inflation. But, all in all, the Biden plan worked, inflation, a necessary factor on the plan is way down, wages are going up, unemployment at 3.6% , which is what economist basically see as full employment, GDP is way up and relatively speaking the U.S. has recovered from the world wide economic pandemic disaster faster and is in better shape than all of the major countries in the world. And with all of that Biden also passed an infrastructure bill (something Trump had constantly promised to do, but, even with his $8 trillion debt increase, never did do) and Biden invested billions in aid to Ukraine which in their war against our enemy, Russia, has decimated Russias military.

Oh, and by the way, dont forget, that the economic recession that nearly every economist predicted, NEVER HAPPENED! And unfortunately for you Biden haters the economy keeps getting better and better and is expected by the FED, not to mention Stock Investers, to continue in that upward direction. The FED is now expected to bring down interests rates by 1.25% or more next year. Take the blinders off, and get yourselves out of the echo chamber of alternate facts that the plutocrats are feeding you via propaganda media!

after a very brief dip in 2020 when Covid hit, the stock market rebounded pretty quickly. It was back on track when BIden took over and didn't start to tank until his policies and spending caught up with him. Not to mention him not fixing the supply chain, him tacking on ANOTHER stimulus package when it was no longer needed, shutting down oil pipelines causing gas to raise, then sitting on his thumbs when Putin invaded Ukraine even after his strongly worded letter.

So the stock market started going back down, and has only just now caught back up to where it was and you claim "all time high!" - which is just as disingenuous as claiming "New jobs" when all that happened was that old jobs finally came available again.

and yes the recession happened, they just defined it as not a recession.

But what else can we expect from a liberal political parrot like you?

[seanD]

Exactly. Inflation continues to rise but not as quick as it was. But for the low information voters that these sort of claims are directed toward, they (like little jimmy here) will actually fall for it. The fact is it is still well over twice the rate it was when the duffer first stumbled into the White House.

These are the same idiots who bought into the claim that when inflation rate leveled off that meant the inflation rate was now at 0%.

Or after the government forcibly closed tens of thousands of businesses and then allowed them to reopen, started claiming they "created" new jobs.

Unfortunately there will always be the little jimmies who buy this crap hook, line and sinker. One can only hope they don't vote.

Biden cheerleaders might fall for it, but ordinary folks won't, because they're still struggling due to prices being too high. In fact, the more Biden touts how good his economy is based on things like the stock market (which is affected by what the Fed does), the more ticked off people will get, hence the reason Biden's polls continued to sink as the admin kept touting how great "Bidenomics" was.