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We need highs how do think Biden going win if the feds refuse rate increases gas will be close if not a all time high but a down stock market Biden doesn't have chance.
If you think Biden and his Bidenomics are responsible for this then you are sadly mistaken.
I'm calling bull shit on that Golfer Guy. When price levels rise, then shouldn't share indices rise too? And who can you credit more than Joe Biden and Bidenomics for the 20% cumulative inflation since he took office? The market has performed exceptionally well under Biden, rebounding from the dark days of COVID!
Too bad the wages of the workingman didn't keep up with inflation though.
Biden hasn't done as well as Robert Mugabe in Zimbabwe and the Kirchner's in Argentina. They presided over increases in share prices that make the performance of our indices look pretty anemic. But give Biden time, he might just match them assuming he gets a second term and the Elizabeth Warren/Bernie Sanders/AOC wing of the Democratic Party takes control of Congress.
Would you like to expound on that statement please.
To what do you credit with the results?
Jerome Powell and the federal reserve. And Tiny you can call BS until the cows come home but me do think that some of you frequent posters who seem to live on this site need to get a better picture of how this all works.
Jerome Powell and the federal reserve. And Tiny you can call BS until the cows come home but me do think that some of you frequent posters who seem to live on this site need to get a better picture of how this all works.
You don’t have a very good eye for sarcasm Golfer Guy. I strongly agreed with you, although I might not give as much credit to the Fed as you do. The cut in the federal corporate income tax rate from 35% to 21% in 2018 certainly helped. You can point to American business, American workers, the rule of law, corporate earnings, free markets, technology and animal spirits as well.
I think the Fed kept interest rates too low for too long. That might have helped the market at the time, but, along with too much fiscal stimulus (that is, Bidenomics), it played a part in goosing inflation.
You don’t have a very good eye for sarcasm Golfer Guy. I strongly agreed with you.
I guess my sarcasm meter was running on empty and sorry about that Tiny. Must be this enjoyable weather at my summer home in New Mexico. But I will say that it literally astounds me when people think that Biden is responsible for the markets upsurge. My portfolio made $$ during the Trump era just as it has during the Biden era and I attribute more to having one hell of a broker. And I can assure you that I am probably much younger than most of the posters here and have been retired for a couple of years now.
My portfolio made $$ during the Trump era just as it has during the Biden era and I attribute more to having one hell of a broker.
The stock market went up under both presidents but for different reasons. Your broker is probably pretty good. The stock market is going in one direction basically. A really good broker can make money when the markets are going up or down.
Would you like to expound on that statement please.
To what do you credit with the results?
Markets are going up under Biden for two reasons, Bidenomics is working and investors(institutional traders) are buying AI stocks right now. The Gov partnered with Microsoft to make new plant in Wisc for AI research.
We can reprise the FDR campaign theme song and enjoy "Happy Days" again!
Quote:
Originally Posted by VitaMan
Each of the major U.S. stock indexes closed Wednesday at record highs.
Yes, indeed. And how very impressive!
And just think ... Joey and his budget-busting buddies in congress have accomplished this while holding the sustained and projected annual run rate of deficit spending to only about the $2+ trillion range.
Also, Joey's most ardent fanboys and fangirls might consider this:
The broad market (S&P 500) only has to climb about 25% from today's level to equal its performance during Donald's 4-year term!
Quote:
Originally Posted by Tiny
Too bad the wages of the workingman didn't keep up with inflation though.
Just a hunch, but I'm guessing that's why polls show that Joey's approval rating is hovering around the 40% or even sub-40% level.
Biden hasn't done as well as Robert Mugabe in Zimbabwe and the Kirchner's in Argentina. They presided over increases in share prices that make the performance of our indices look pretty anemic. But give Biden time, he might just match them assuming he gets a second term and the Elizabeth Warren/Bernie Sanders/AOC wing of the Democratic Party takes control of Congress.
Yeah! But why stop there? Let's go for the full monty!
To be sure, giving Bernie and E-War a free hand in the Senate would be a good start, along with installing AOC as House Ways and Means Chair (or even Speaker).
But for the icing on the cake:
Professor Stephanie Kelton in the Fed chair.
Investors and traders all over the land will be singing then!
The fact that the first comment within 30 minutes states the Biden administration can't take credit, and the recent statement once again rehashing historical perspectives, pretty much sums it up. Exactly like the last time this was discussed.
Gotta be sure nothing positive is given to the Biden administration.....right ?
The Trumpeter wants to take credit for it, though.
record highs on 3 US stock indexes
