terrible Biden economy ?

[Tiny]

Originally Posted by The_Waco_Kid

the Dow has set a record during every presidency in modern history but you knew that right?

Exactly! I just looked at a chart of the DJIA, going back to Calvin Coolidge. The Dow set a record during every presidency except for Frankin Delano Roosevelt's, Gerald Ford's, and Jimmy Carter's.

[lustylad]

Originally Posted by Tiny

Exactly! I just looked at a chart of the DJIA, going back to Calvin Coolidge. The Dow set a record during every presidency except for Franklin Delano Roosevelt's, Gerald Ford's, and Jimmy Carter's.

Yep. I second your research.



https://www.fedprimerate.com/djia-chart-history.htm


This chart is even more informative, although it needs to be updated for Trump & Biden:




https://www.marketwatch.com/story/th...art-2017-03-23

[eyecu2]

Every president takes a lap for the good stuff, and scoffs at the shit that went sideways during their tenure. Or they inherited a great economy or they got a bad one. I will say this- for regular watchers of many mid to right focused news cycles, even the nay-sayers are saying one of two things;
This economy is way more robust than was predicted,

or

The can is still being kicked down the road for a future recession.


All booms comes with a downturn at some point, so as the saying goes, even a broken clock is right 2x a day. It just seems that a lot of those who predicted a crash, and a recession, or we are already in one, are now scratching their proverbial heads and trying to put the spin on it. Even Maria Barto- I wanna fuck her eyes out-romo, has agreed that the market is doing very well, all things considered.

[Texas Contrarian]

Originally Posted by VitaMan

Dow rallies more than 500 points to record, closes above 37,000 for the first time.

Wow! How impressive. Yeah, that Joey is doing a bang-up job as president, isn't he?

Wait ... why is it that I have a strange feeling of deja vu? Oh, yeah! There's this post from November 2021:

https://eccie.net/showpost.php?p=106...5&postcount=32

Originally Posted by The_Waco_Kid

the Dow has set a record during every presidency in modern history but you knew that right?

Come on, Waco Kid. Let's be fair here. Shouldn't it be against the rules to introduce facts and reason to a discussion wherein someone has a political axe to grind?

Originally Posted by eyecu2

Incredible the economy is booming better than was expected. I feel certain that this will continue as these policies have been put into place over the past 3 years.

A question, please, if I may (actually two questions). What policies do you expect to produce an enduring boom, and do you think the current fiscal (debt accumulation) trajectory is sustainable over the long term?

If you answer the second question in the affirmative, you may qualify for a free lifetime membership in the Stephanie Kelton Fan Club!

[VitaMan]

You really spend your time searching old posts on ECCIE ? Must be very important.
Back to this thread:


the Dow has set a record during every presidency in modern history but you knew that right?

And the most recent presidency is.....(to be filled in by the Waco Kid)

[Texas Contrarian]

Originally Posted by VitaMan

You really spend your time searching old posts on ECCIE ? Must be very important.
Back to this thread:


the Dow has set a record during every presidency in modern history but you knew that right?

And the most recent presidency is.....(to be filled in by the Waco Kid)

LOL ... you seem to have a real fascination with this!

You do know that there's a search function on ECCIE, right? Took me about 30 seconds to find that post.

[Texas Contrarian]

Originally Posted by Texas Contrarian

A question, please, if I may (actually two questions). What policies do you expect to produce an enduring boom, and do you think the current fiscal (debt accumulation) trajectory is sustainable over the long term?

If you answer the second question in the affirmative, you may qualify for a free lifetime membership in the Stephanie Kelton Fan Club!

By the way, VitaMan, it would also be interesting to see you take a stab at offering a coherent reply to those questions.

(But I don't think I'll be waiting for your reply with bated breath!)

[VitaMan]

A political axe to grind ?


Since you like to search old posts, why not count up all the posts and threads that bash the economic performance during the Biden administration ?


Take your time - there are a lot of them. Then report back.

[Precious_b]

Originally Posted by The_Waco_Kid

the Dow has set a record during every presidency in modern history but you knew that right?

Thanks for confirming it is better than ever.

[adav8s28]

Originally Posted by Precious_b

Thanks for confirming it is better than ever.

Yes, better than ever! @Tiny, did find three exceptions to Waco's post. The eccie republicans don't like the fact that "build back better" is working. The unemployment rate is 3.7%. Millions of jobs have been added under Sleepy Joe and Kamala. Regular people are making more money too. You can make $100,000 in salary just delivering the mail for UPS. A college degree is not required to get hired.

Biden/Harris in 2024

[Tiny]

Originally Posted by VitaMan

A political axe to grind ?


Since you like to search old posts, why not count up all the posts and threads that bash the economic performance during the Biden administration ?


Take your time - there are a lot of them. Then report back.

Actually VitaMan, Texas Contrarian has criticized Republicans just as much as Democrats for running up big fiscal deficits, particularly for the first two years of the Trump and Bush administrations when Republicans controlled the House, Senate and Presidency. He was on the same page with Democrat fiscal hawk WTF more often than not.

I suspect he was able to look up his old post faster than he could compose a new reply to your OP.

[Tiny]

Originally Posted by adav8s28

Yes, better than ever! @Tiny, did find three exceptions to Waco's post. The eccie republicans don't like the fact that "build back better" is working. The unemployment rate is 3.7%. Millions of jobs have been added under Sleepy Joe and Kamala. Regular people are making more money too. You can make $100,000 in salary just delivering the mail for UPS. A college degree is not required to get hired.

Biden/Harris in 2024

I missed one Adav8s28, Harry Truman. I wouldn’t call those four presidents exceptions to what the Waco Kid said though. During the last 40 years, the Dow hit a high during every presidency.

The total number of nonfarm jobs is up by 3% since February, 2020, not much more than the increase in the working age population. And while wages have gone up during Biden’s presidency, the costs of goods and services have gone up more.

You’ve got a point that we’d probably have a somewhat higher unemployment rate and fewer jobs if not for the Democrats spending bills in 2021 and 2022. But at what cost? Federal debt held by the public is $26 trillion.

[lustylad]

Originally Posted by Tiny

I missed one... Harry Truman.

Hey Tiny - here's a yahoo link for you. It tracks the DJIA performance by President, from swearing-in date to last day in office. (Note - It doesn't indicate whether the DJIA hit a new record high at some point during each President's tenure, only how it performed for his entire time in office.)

Here's a summary going all the way back to 1900:


William McKinley: +62.7%

Teddy Roosevelt: +18.0%

William Taft: -0.6%

Woodrow Wilson: -6.8%

Warren Harding: +17.4%

Calvin Coolidge: +266.0% (no wonder TC loves Cal)

Herbert Hoover: -82.9%

FDR: +154.5%

Harry Truman: +81.1%

Dwight Eisenhower: +119.6%

JFK: +15.5%

LBJ: +31.5%

Richard Nixon: -15.7%

Gerald Ford: +24.6%

Jimmy Carter: +1.3%

Ronald Reagan: +135.5%

George H.W. Bush: +45.7%

Bill Clinton: +226.6%

George W. Bush: -21.8%

Barack Obama: +148.2%

Donald Trump: +56.0%


https://finance.yahoo.com/news/stock...20026422.html?

[lustylad]

Originally Posted by Texas Contrarian

A question, please, if I may (actually two questions). What policies do you expect to produce an enduring boom, and do you think the current fiscal (debt accumulation) trajectory is sustainable over the long term?

Originally Posted by VitaMan

Since you like to search old posts, why not count up all the posts and threads that bash the economic performance during the Biden administration?

There you go again... evading a simple, direct question. Instead of answering, you counter with a question of your own. And a silly one to boot.

How many posts/threads happen to bash an administration's performance is neither illuminating nor determinative. More useful is whether those posts/threads are persuasive on the merits.

Economic performance is very quantifiable. But all good economists agree it should be evaluated using multiple metrics, not just one.

Btw, using the search function ain't rocket science. Especially if you hit "advanced", identify the poster, and insert a not-so-common search word. You should try it some time.

[Tiny]

Originally Posted by lustylad

Calvin Coolidge: +266.0% (no wonder TC loves Cal)

I don't have the encyclopedic knowledge of economic history that TC and you do, but believe Coolidge's economic policies came closest to the ideal of any president of the 20th or 21st centuries. If we consistently had presidents and Congressmen who believed like Calvin, we'd be wealthier per capita than Singaporeans.