Yesterday, the Dow Jones Industrial Average rose above 40,000 but then dropped back below it; today it closed above 40,000 for the first time in history, ending the day at 40,003.59. This extraordinary performance means investors have confidence the Federal Reserve will get inflation under control without throwing the country into a recession. It is a triumphant vindication of the financial policies advanced by President Joe Biden and Secretary of the Treasury Janet Yellen.
In comparison to the breathless coverage of the stock market during Trump’s administration, this milestone is getting very little coverage. Under Trump, the stock market had the highest annualized gain of any Republican president since Calvin Coolidge in the 1920s, but at 11.8%, that annualized gain was lower than the annualized return under Democratic presidents Barack Obama (12.1😵 and Bill Clinton (15.9😵. Biden’s annualized return passed Trump’s in April 2024, as well.
The stock market’s performance is being ignored partly because Democrats tend to underplay the role of the stock market as an indication of economic health because they recognize it is not the only important way to think about the economy.
Heather Cox Richardson
@Phranny
To the Trumpite idiots it doesn't matter HOW high Dow goes because a democrat is in charge. If Trump was POTUS right now they would be dancing in the streets at how low inflation is right now and 'It's all because of Trump'.
But with Biden in? FAKE NEWS, The US is headed to bankruptcy.....
The post that was quoted here has been removedThere is some of that, but that's not mostly what it is.
About 75% of companies promise a dividend to shareholders. Smaller, faster-growing companies don't usually and so are more speculative. But even there you create your own profits by selling off slowly as more people buy in and the stock price rises.
Gambling is much chancier. That's completely up to fate. I make it a practice not to gamble in general.
@AverageJoe1
It is not the dow numbers that do it for me, Trump V Biden, it is the other aspects of so called life under Trump repaved. Like his pursuit of enemies and using the AG as his personal attack dog.
That is NOT the way a government should be run. The Fed AG HAS to be totally independent from POTUS or otherwise it is just a repeat of Trump and Barr who did Trump's bidding till he could no longer stomach the sick feeling.
But of course you fully agree Trump can use the AG as his personal attack dog.
@sonhouse saidWhat is not the way Government should be run, Sonhouse? Keep the constitution in mind as you answer. Should it be run like it is right now?
@AverageJoe1
It is not the dow numbers that do it for me, Trump V Biden, it is the other aspects of so called life under Trump repaved. Like his pursuit of enemies and using the AG as his personal attack dog.
That is NOT the way a government should be run. The Fed AG HAS to be totally independent from POTUS or otherwise it is just a repeat of Trump and Barr who did Trump's ...[text shortened]... h the sick feeling.
But of course you fully agree Trump can use the AG as his personal attack dog.
Sonhouse?
@AverageJoe1
Evading the post as usual. You seem to be ok with SCOTUS being totally corrupt. Just admit it.
@sonhouse saidYou said that that is not way for a govt to be run, and I answered by saying in effect that Bidens government is the worst in history. I thought it is acceptable now to answer with a whatoaboutism. So, A straight answer.
@AverageJoe1
Evading the post as usual. You seem to be ok with SCOTUS being totally corrupt. Just admit it.
LETS GET RID OF WHATABOUTISMS.
Further I did say elsewhere today that if a judge breaks his oath in any way that he needs to deal with paying for it.
@AverageJoe1
What the hell does Biden have to do with SCOTUS corruption? Do you even know what SCOTUS means? SUPREME COURT OF THE UNITED STATES.
Did you actually read the link I sent?
YOU are the one distracting from my post, it is not about Biden, it is about the supreme court, lavish vacations worth hundreds of thousands of dollars paid for by the billionaires club and just so coincidentally cases that come through get passed by them that just so strangely coincide with exactly what those billionaires want.
A simple flipping question, is this kind of corruption at the top levels of government ok with you and please don't distract from SCOTUS corruption, just that issue alone is what I am talking about or is it impossible for you to stay on one issue, one subject without distraction?
@sonhouse said"Further, I did say above that if a judge violates his oath, he has to stop being on the court."
@AverageJoe1
What the hell does Biden have to do with SCOTUS corruption? Do you even know what SCOTUS means? SUPREME COURT OF THE UNITED STATES.
Did you actually read the link I sent?
YOU are the one distracting from my post, it is not about Biden, it is about the supreme court, lavish vacations worth hundreds of thousands of dollars paid for by the billionaires club and ...[text shortened]... am talking about or is it impossible for you to stay on one issue, one subject without distraction?
Whew. So angry.
PS: I do wonder what you meant about my not knowing what SCOTUS means. Wonder where you got that. Well, i don't really.
Did you see where Spruce is dabbllng with Free Stuf concepts? I thnk I will ask him what he would do about a situation where 2 brothers start life evenly, one gets REAL rich and one does not. What does a communist do in a case like that?
@AverageJoe1
You really don't get it yet. Like I said SCOTUS is the SUPREME COURT OF THE US.
The corruption there is right out in the open, they don't even bother to hide it.
The problem is there is ZERO oversight on SCOTUS. THAT is the problem, NOBODY can do squat about it.
At least with the obvious corruption of Trump there is impeachment which happened twice but the senate was too far up Trumps ass to actually convict but at least there is impeachment.
The problem with SCOTUS is at least half of those creeps are doing it and you can impeach one but I don't think that ever happened before with those dudes.
It would be near impossible to impeach half of them at once.
You live a sheltered and parochial life, you don't listen to anything much outside of fox news and they were so far up Trumps ass they would NEVER cover anything as disgusting as corruption on SCOTUS.
You really need to expand your mind and try to learn what is going on politically besides all the mewling me and others do against Trump.
A lot more corruption is going on besides anything from Trump or what you THINK is going on with Biden.
@sonhouse saidI will be glad to participate in helping Sonhouse get help........
@AverageJoe1
You really don't get it yet. Like I said SCOTUS is the SUPREME COURT OF THE US.
The corruption there is right out in the open, they don't even bother to hide it.
The problem is there is ZERO oversight on SCOTUS. THAT is the problem, NOBODY can do squat about it.
At least with the obvious corruption of Trump there is impeachment which happened twice but the ...[text shortened]... ot more corruption is going on besides anything from Trump or what you THINK is going on with Biden.
God, we are months away.
@AverageJoe1
Tell me your proof there is no corruption in the supreme court.
YOU are the one who is deliberately blind.
You probably refused to go to the link I provided about that corruption.
https://www.progressreport.news/p/uncovering-more-supreme-court-corruption