We. Are. Peoria (Area)

RPlant wrote: ↑Sat Dec 04, 2021 3:38 am

AV8R wrote: ↑Fri Dec 03, 2021 2:26 pm Oh what a difference a week makes.
Markets have been declining for days now and that Nov jobs report was a real eye opener, eh?

You failed to mention unemployment is down to 4.2%. How much job growth can you have at full employment my man?

You don't think the omicron variant might, just might have had an impact on the market?

Keep spinning though, the exercise is good for you.

RPlant wrote: ↑Thu Nov 25, 2021 8:42 am Funny how quiet some have been about the stock market of late. And this without an unfunded tax cut to the rich or Trump having his Fed buying up common stocks to artificially prop up the market.



Stock market growth under Biden must thoroughly annoy Trump
Trump operated from the assumption that Wall Street offers a real-time barometer of a president's performance. So what explains market growth under Biden?
https://www.msnbc.com/rachel-maddow-sho ... p-n1283340
Nov. 5, 2021, 10:20 AM CDT
By Steve Benen
Two weeks before Election Day 2020, Donald Trump and Joe Biden met for their final debate, and as regular readers might recall, the incumbent president made a bold prediction. "If he's elected, the stock market will crash," the Republican claimed, pointing at his Democratic rival.

Americans elected Biden soon after. The stock market, at least for now, has not crashed. In fact, the Wall Street Journal reported in April that Wall Street was off to its best start to a presidential term since the Great Depression. Fortunately for investors, the growth has continued. The Journal added yesterday:

The [Standard and Poor's] 500 and Nasdaq Composite extended their record-setting streaks on Thursday, while investors digested the Federal Reserve's latest update on stimulus spending and interest rates.... It was the sixth consecutive record close for both indexes.

The Dow Jones Industrial Average reached a record high this morning, fueled in part by the excellent jobs report.

Circling back to our earlier coverage, at a certain level, none of this should come as too big of a surprise. As the nation crawls out of its pandemic-generated hole, it stands to reason that Wall Street would respond positively.

What's more, any such analysis should come with all kinds of caveats, starting with the most important: The major stock market indexes are not the economy and do not always reflect economic health.

The major indexes' record highs nevertheless stand out, in large part because this is likely the one part of Biden's record that frustrates Trump the most.

It's not just that the Republican promised Americans "the stock market will crash" in the event of a Biden presidency — one of several unfortunate Trump predictions from the fall — it's also Trump's persistent belief that Wall Street offers a real-time barometer of the incumbent president's performance.

Though the former president's Twitter account has been permanently suspended, Trump spent much of his term in the White House bragging about assorted bull markets. This was a matter of intense preoccupation for the Republican, with every new high seen as proof of his genius.

He even incorporated Wall Street into entirely unrelated stories. In late 2019, for example, Trump argued in a tweet that if he were impeached, "it would lead to the biggest FALL in Market History. It's called a Depression, not a Recession!" He was impeached soon after. Investors didn't much care.

Trump spent years operating from the assumption that Wall Street was a direct reflection of the American presidency — and upturns were proof of Oval Office excellence. That never made any sense, but as the major indexes reach new heights under Biden, I'll look forward to the explanation as to why the stock markets are no longer politically relevant.