In all fairness, Obama did have one major contribution to this huge upswing in the economy....
A president's influence on the stock market is indirect at best. Based on the observed performance of the Dow Jones, under Obama the economy went from in-serious-trouble to steady-growth. Under Trump, that growth rate has accelerated.
One interpretation of the record is that business is most happy with stability. Growth was steady throughout the Obama years. During the election from mid 2015 to the end of 2016, growth slowed due to uncertainty. After the election in 2016, growth resumed.
If Obama had been running instead of leaving as the law required, I have no doubt he'd have won in a landslide. He inherited a recession and left office with a healthy economy. That's a verifiable fact.
How about backing up your most recent assertions with some more of those?
Republicans raiding the US treasury for their sponsors and themselves
Tar and feather this group of con men and run them on a rail out of Washington. :)
Unless that's beyond subtle, Alan, clicking on that brings up a black screen.
In general, this group of con men has delivered a load of debt of awesome proportions and they are only beginning. There's the "big, beautiful wall" and the military budget on the horizon.
Apparently today he was ranting in the Oval Office about how Haitians all have AIDS and Nigerians all live in huts. John Kelly had to send everyone out of the room to try to do damage control. Total idjit and dangerous.
I just came across this topic by chance. I am not an American, but an Aussie Expat in Philippines.
I do know quite a bit about American History but far from an expert. I do follow the financial markets closely as I am an investor, just not a very good one.
The market did indeed shoot up after Trumps election, then corrected somewhat and over the last year has had quite a remarkable surge. Now whether that is a Trump achievement or not, I think the jury is out, but most certainly there seems to be more positive business sentiment in US than previously was under Obama.
My personal view on him was that he was a 'non achiever' and did little for the economy. The US has a massive debt, so big, it is totally frightening. The tax cuts approved yesterday will IMO, further increase the debt in US. Time will tell on that one, as there are 2 differing schools of thought.
I do like his pro business platform and in time that should help improve your economy. As a 'fence sitter' I think the US is better off in the current world with Trump as opposed to Clinton - a very suspect family IMO.
We are staring down the barrel of war and my country will of course be involved if it does happen - I hope does not though North Korea has to be de nuked for the sake of world safety IMO.
I would have thought your budget deficit and world peace and safety were more worthy subjects, rather than what happened 12 months ago at the polls - because it is dead news, the game is over until next time. Live with it.
In Oz, we have a bunch of idiots running the country and another bunch of bigger idiots in opposition. Neither of them a worthy of doing the job. Polls are nothing more than limited opinion gathering from a very small minority of the populace,they are rarely accurate and never properly reflect the result of an election, no matter what country they are covering!
I would like to see my government concentrating on major issues like the widening gap between the rich/working class/pensioners and poor. Resolving our budget deficit, fixing the health system and stopping all unnecessary immigration. But they are fixed on whether an elected politician is eligible due to some bs laws concerning who your grandfather was or where he lived!!! Or even worse marriage 'equality'. I did not vote in the recent poll on gay marriage as I was in the Philippines, but I would have voted 'No'. But what and how people live their lives in the privacy of their own home, is their business - let's not make it a political platform.
End of my rant gentlemen.
The stock market is an immediate barometer of consumer confidence. What Obama never understood is that there is a close and important correlation between optimism and growth. Optimistic consumers spend money. Optimistic investors buy stocks. Most important, business leaders who view the future positively will invest in growth.
If a candidate is elected that is anti fossil fuel and for big government regulations, energy stocks plummet as they would have if the one who was going to "put a lot of coal companies and coal miners out of work." had won the election.
In my personal experience, the market reacts immediately to who is elected and the expectations of the effect that election will have on say oil or coal futures. I too was heavily invested in stocks, a lot of energy stocks and all of my coworkers saw our 401k not only plummet plummet but stagnate after Obama was elected as more and more government restrictions strangled our own energy resources and made us even more dependent on the unstable middle east for our fuel. America has more than enough of our own oil to not only become self sufficient, but be a global leader in gasoline and oil production and distribution once we are able to drill for our own, this alone is affecting the upswing in our economy as the large oil companies can now increase exploration and production making us energy independent.
The stock market took a major beating today after the election of Democrat Barack Obama and Democratic gains in both the House and Senate. The Dow Jones industrial average losing almost 500 points and markets in Europe also saw drops. The mainstream media and Obama blamed this on Bush.
The stock market immediately surged after the election of Trump, it is hard to deny such immediate reactions are not due to consumer confidence or the lack thereof. Instead of telling successful small business owners, "You didn't build that. Somebody else made that happen." as Obama did. Small business owners were also cheered by Trump’s election. The National Federation of Independent Business reported an immediate surge in optimism among its members, with its confidence index rising to 105.8, its highest level since the end of 2004. The December gain was 7.4 points, the biggest monthly leap since 1980.
The outlook from corporate CEO's, too, turned more positive. In fact, nearly every measure of manufacturing and business sentiment improved in the weeks following the election.
Consumer confidence is everything when it comes to stocks, and we have all seen immediate panics and the selling off of stocks before and the sudden booms in the stock market before. To try to give the previous administration credit for this sudden positive reaction and steady record growth of the market is laughable. The timing is just too indicative of consumer confidence.
Mogo raises a lot of interesting points, as an outsider looking in he has the advantage of not being tainted as he doesn't have a dog in this hunt. Perhaps we should start another thread on North Korea and the other points raised.
One final question. How many of you were actually living in the USA under the Obama administration as opposed to sitting in Mexico reading CNN's, NBC and CBS's glowing reports of his "performance?" Living there revealed a different story than what they were reporting. The liberal mainstream media buried any negative news and still does. They also ignore any positive news about the current administration.
"Optimism" eh? Was it lack of Optimism that caused the Recession of 2008 under Bush's watch?
If you think about that, the answer is painfully obvious.
On other matters, those who have no concern for what will happen to the environment our descendants will inherit if there are no restrictions on industry, I say you're caring for the immediate gratification for business instead of the long term, irreversible damage that will affect everyone.
As far as where any of were living during the previous administration, it's irrelevant. Facts are facts, liars are liars, and most intelligent people get their news from more than one source.
After the first nuclear bomb drops on North Korea, the unpicked crops rot in the fields, the current optimistic stock market bubble pops, and the inevitable result of having too much debt kicks in, the deniers may wake up. Or not.
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