That's pretty damn amazing given how this year has gone. I'm not one to say that who ever is the President is responsible for Market highs or Market lows, but the Market has performed very well since Trump became President.
I think the reason the economy did so well is that he un-Obamaed it. He did away with stupid over regulations and reduced the Corporate tax rate as well as a tax cut for most individuals. We now have the same Swamp creatures entering the slime that is DC and the same stupid economic barriers will be raised.
If Biden re-institutes the regulations that Trump rescinded and rolls backs the tax cuts that Trump slashed we will see the market retract 10,000 points or more over time. If he undoes the tariffs against China even more. If he truly lets the Squad through John Kerry exert the retribution against the energy industry that he promised it will be much worse. And this damage could be enhanced by a lack of stimulus to business and individuals as well as a re-opening of the southern border ( a certainty ). This is not complicated; things are going as well as they are in spite of a pandemic exactly because of Trump. We are energy independent for the first time in my lifetime. We also have been fairly clear of military conflict for four years. Those things are good for business as well. Will that change by our own hands ? The election in Georgia is critical. If the Republicans keep control in the Senate they can minimize the damage that this new administration is hell bent on unleashing. Then Biden probably has two years to get things done because the House will likely turn Red in 2023.
Remember when it was suggested that part Social Security be invested in the market? One candidate wanted to put it in a lockbox. The fund would be in much better shape today if it had been invested but then the politicians would have had a tougher time getting their hands on it.
If you look at the first graph of the Dow you'll notice that the top portion of the graph is compressed. It's made to look as though the rate of increase is the same. However, notice that the space from aprox. 6000 to 15,000 is that same as from 15,000 to 30,000. By compressing the top of the graph is appears that the movement of 9,000 is the same as 15,000 which it really isn't. Notice also that 2014-2016 is almost flat.
Gipper, I am pretty sure that graph is a log-rhythm scale as opposed to the normal graphs you see. That makes the gaps related to the same percentage as opposed to the same absolute number. Not very well presented in my estimation as most people don't deal with graphs of that type.
right you are counselor..we are right back now into the "good boy" politics.."you wash my hands..I wash yours. too bad...mkts had a nice run.
Gip, I was going to make similar observations. Obama does deserve some credit for turning around the economy after 2008. I don't think it's nearly as much as the Left "news" heaped on him, but the improvement was under his watch. However, I remember distinctly that touting the 2%-3% year-over-year improvement was "the new normal", which Trump destroyed after removing the strangling regulations Obama/Biden had allowed to be put in place. The initial year-over-year growth from the bottom is the "easy" part in which large growth percentages are based on a smaller number. Large year-over-year growth when you're at the top (which is where Obama/Biden said we were) is harder. And THAT is where Trump excelled.
hello bill and all. doing the best i can..wife is in the POLYMEILITIS situation..requiring lots of attention..for 5 months we had 24 X 7 in home care..now reduced to few mornings a week. We made the big mistake of not moving to assisted living few years ago..now with Covid we dont dare ! regards.jif
Sorry to hear about your situation Joel. I hope things trend up for your wife and that you have a great Holiday Season.