Mainecat Posted March 16, 2020 Share Posted March 16, 2020 Dow when Trump took office: Jan. 20, 2017 19,827 March 16, 2020 21,275 It’s up 1,448 in 38 months. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 16, 2020 Share Posted March 16, 2020 Just now, Mainecat said: Dow when Trump took office: Jan. 20, 2017 19,827 March 16, 2020 21,275 It’s up 1,448 in 38 months. much like Obie gets a free pass for certain things giving what he inherited Trump should in this case he did not create this issue. Regardless of his scattered response there was little to nothing he could have done to stop what has occurred. Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 16, 2020 Share Posted March 16, 2020 1 minute ago, Angry ginger said: much like Obie gets a free pass for certain things giving what he inherited Trump should in this case he did not create this issue. Regardless of his scattered response there was little to nothing he could have done to stop what has occurred. so what. He not only took credit for gains that had nothing to do with him he proclaimed they were all his doing, and would be even better had dems not been trying to impeach him or frame him on collusion. He gets to own both sides of the coin because of that. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 16, 2020 Author Share Posted March 16, 2020 Just now, Angry ginger said: much like Obie gets a free pass for certain things giving what he inherited Trump should in this case he did not create this issue. Regardless of his scattered response there was little to nothing he could have done to stop what has occurred. The economy was moving up when Trump took office. Trumps legacy is failures to whatever he touches. It’s fuckin historic. 2 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 16, 2020 Share Posted March 16, 2020 2 minutes ago, frenchy said: so what. He not only took credit for gains that had nothing to do with him he proclaimed they were all his doing, and would be even better had dems not been trying to impeach him or frame him on collusion. He gets to own both sides of the coin because of that. i don't disagree he is going to pay the price for his crowing for years about the point gains but the reality is he didn't create the issue thats causing the problem right now. Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 16, 2020 Share Posted March 16, 2020 4 minutes ago, Angry ginger said: i don't disagree he is going to pay the price for his crowing for years about the point gains but the reality is he didn't create the issue thats causing the problem right now. if anything it should serve as a perfect example as to why spending like a drunken sailor in strong economic times is a horrible idea but the trump fun bunch will have none of that. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 16, 2020 Share Posted March 16, 2020 6 minutes ago, Angry ginger said: i don't disagree he is going to pay the price for his crowing for years about the point gains but the reality is he didn't create the issue thats causing the problem right now. He’s a consummate self promoter. It’s gross but, he can take some of the responsibility for the rise in the market because he inspired consumer confidence...truth is, it was really just his admin rolling back stifling Obama idiocy. And yes, the virus is what is causing all this...or the panic really. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 16, 2020 Share Posted March 16, 2020 11 minutes ago, Mainecat said: The economy was moving up when Trump took office. Trumps legacy is failures to whatever he touches. It’s fuckin historic. Just shut the fuck up. God damn...what a bunch of whining little assholes. Set your house on fire tonight. 1 Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted March 16, 2020 Share Posted March 16, 2020 (edited) 7 minutes ago, frenchy said: if anything it should serve as a perfect example as to why spending like a drunken sailor in strong economic times is a horrible idea but the trump fun bunch will have none of that. I don’t think anyone is defending the spending, but I also believe initially the tax break was intended to give the middle class a boost, and evidence suggests that it accomplished that- confidence, wage growth in lower income sectors, spending all up since. Consumer spending is 70% of the gdp. So an argument can be made that without it the economy wouldn’t have been so strong for the past 3 years. He also has to get budget past a partisan D house, and since when have they or anyone else been putting the brakes on spending? All that said, he needs to make reducing the deficit a high priority in his second term. We’ll see. Imo. Edited March 16, 2020 by DriftBusta Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 16, 2020 Share Posted March 16, 2020 Just now, DriftBusta said: I don’t think anyone is defending the spending, but I also believe initially the tax break was intended to give the middle class a boost, and evidence suggests that it accomplished that- confidence, wage growth in lower income sectors, spending all up since. Consumer spending is 70% of the gdp. So an argument can be made that without it the economy wouldn’t have been so strong for the past 3 years. He also has to get budget past a partisan D house, and since when have they or anyone else been putting the breaks on spending? All that said, he needs to make reducing the deficit a high priority in his second term. We’ll see. Imo. My thoughts are true growth at a lower rate is better than bubble growth fueled by public debt, especially leading in to what could very well be a deep recession. 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 16, 2020 Share Posted March 16, 2020 10 minutes ago, frenchy said: My thoughts are true growth at a lower rate is better than bubble growth fueled by public debt, especially leading in to what could very well be a deep recession. The surge in the market to 23-24k was based on confidence spending and the roll back of Obama level idiocy. After that, it’s debt spending....and went too high too fast. Consumerism is just crazy! Once again...cheap credit will give the spending booms but, sooner or later, it corrects. Still, what is hurting now is all fear based virus shit. Fundamentals were still strong enough in most sectors and the ones that weren’t were set to impose a correction on their own....just nothing like this. Quote Link to comment Share on other sites More sharing options...
Big Crappie Posted March 16, 2020 Share Posted March 16, 2020 30 minutes ago, Angry ginger said: i don't disagree he is going to pay the price for his crowing for years about the point gains but the reality is he didn't create the issue thats causing the problem right now. I believe he and monetary policy to prop up the markets did create the issues and this Corona virus and don't forget the oil price war are just the triggers that broke the camels back so to speak. Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 16, 2020 Share Posted March 16, 2020 (edited) 6 minutes ago, Zambroski said: The surge in the market to 23-24k was based on confidence spending and the roll back of Obama level idiocy. After that, it’s debt spending....and went too high too fast. Consumerism is just crazy! Once again...cheap credit will give the spending booms but, sooner or later, it corrects. Still, what is hurting now is all fear based virus shit. Fundamentals were still strong enough in most sectors and the ones that weren’t were set to impose a correction on their own....just nothing like this. confidence was for sure part of that but tax cuts funded via massive deficits are what fueled it. My thoughts are trump could have had solid growth numbers based solely on consumer confidence. He didn't need the massive deficits but wanted the market to reach heights never before seen no matter what, to fuel his own ego. His messaging and ability to sell people on spending, and investing in the markets would have been enough. Edited March 16, 2020 by frenchy 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 16, 2020 Share Posted March 16, 2020 2 minutes ago, frenchy said: confidence was for sure part of that but tax cuts funded via massive deficits are what fueled it. My thoughts are trump could have had solid growth numbers based solely on consumer confidence. He didn't need the massive deficits but wanted the market to reach heights never before seen no matter what, to fuel his own ego. His messaging and ability to sell people on spending, and investing in the markets would have been enough. Nobody cares about deficits or national debts anymore. Our government has long decided they should be presented as myths to the public. Still, tax reductions are good. It’s our government spending that is not. We collectively need to push to shut off their fucking tap. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 16, 2020 Share Posted March 16, 2020 33 minutes ago, Zambroski said: He’s a consummate self promoter. It’s gross but, he can take some of the responsibility for the rise in the market because he inspired consumer confidence...truth is, it was really just his admin rolling back stifling Obama idiocy. And yes, the virus is what is causing all this...or the panic really. I’m other words, if the world would only cooperate everything would be fine. Shit happens, dummy. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 16, 2020 Share Posted March 16, 2020 11 minutes ago, spin_dry said: I’m other words, if the world would only cooperate everything would be fine. Shit happens, dummy. No, not even close. Just go be sad...again. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 16, 2020 Author Share Posted March 16, 2020 Almost 2,200 down. Approaching Obama Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 16, 2020 Platinum Contributing Member Share Posted March 16, 2020 Hey at least now when ya google it ya only have to type D Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 16, 2020 Author Share Posted March 16, 2020 Down over 8,000 in the last month. Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 16, 2020 Share Posted March 16, 2020 5 minutes ago, Mainecat said: Down over 8,000 in the last month. 2 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 16, 2020 Author Share Posted March 16, 2020 -2,650 for the day. Just close now. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 16, 2020 Share Posted March 16, 2020 4 hours ago, frenchy said: My thoughts are true growth at a lower rate is better than bubble growth fueled by public debt, especially leading in to what could very well be a deep recession. Why would you think that? Is it because of these debt bubbles that burst every 10 years or so? Quote Link to comment Share on other sites More sharing options...
frenchy Posted March 16, 2020 Share Posted March 16, 2020 Just now, Anler said: Why would you think that? Is it because of these debt bubbles that burst every 10 years or so? yeah, it's like history has never taught us anything Quote Link to comment Share on other sites More sharing options...
Anler Posted March 16, 2020 Share Posted March 16, 2020 3 minutes ago, frenchy said: yeah, it's like history has never taught us anything Everybody is now used to this and its normal to them. We just got fleeced....again. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 16, 2020 Share Posted March 16, 2020 18 minutes ago, Mainecat said: -2,650 for the day. Just close now. why, thats not even near the closing trigger. Quote Link to comment Share on other sites More sharing options...
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