Stock Market new high- Thanks to the Pres?

[stevenash]

Just wanted to let everyone know that the stock market has hit an all time high.  I also wanted to pre-empt any lefty nut cases that will get on here and try to give credit for that to our President.  How do I do that?  Simply by making you aware that the last time a sitting President could NOT claim to have a new all time high during his Presidency was 1974-77 when Gerald Ford was in for less than a full term.  In other words, our resilient economy/markets can and do recover from most any negative event, regardless of who occupied the office during the decline or who occupied it during the recovery.  I hope that higher taxes and more regulations don't strangle that resiliency. The only unique thing about this recovery is that the current President will leave office as the only modern day President to never have a single year of 3% or better GDP..He also presided over our only downgrade of US. debt.  Since he took office, the economy ( GDP)  has grown at an average rate of 2.1% while the average recovery from a recession has been in the 3.5% area.  That growth is what is critical to creating jobs and that growth can do it so much better than an inefficient, incompetent government(irrespective of  the party in control) can.

[77]

Probably happening because everyone knows he's done in a few months!

[stevenash]

8 minutes ago, 77 said:

Probably happening because everyone knows he's done in a few months!

I know this is partially sarcasm, but it could actually be, to some extent, true.

[77]

Not sarcasm at all!

[shovel]

If you give him blame, you have to give him credit. He is the POTUS and the leader of the free world, so I'm good with it either way. I personally don't give him credit or blame on the stock market or fuel prices, but I will blame the SOB for my rocketing health insurance costs and worse coverage. I guess I can give some blame to the Democrats that passed the healthcare bill too. I guess I  could blame the Republican party for offering poor choices for leaders also... You can't blame that on Obama!

[PAMFAM10]

A man wakes up hear good news on the economy. Gets on internet and turn it into a negative about the president. Wow can you say MANCRUSH

[baddog]

Like Nash said (and I have always said, and I'm no expert) the market rights itself. There are too many intangibles to give any credit.

[stevenash]

3 hours ago, PAMFAM10 said:

A man wakes up hear good news on the economy. Gets on internet and turn it into a negative about the president. Wow can you say MANCRUSH

the obvious point was that every President presides over a new market high.

[Hagar]

I'd feel a lot better with that market high if it was accompanied by a large increase in employment, and a large decrease in folks on food stamps.

[PhatMack19]

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[westend1]

On 7/14/2016 at 4:25 PM, baddog said:

Like Nash said (and I have always said, and I'm no expert) the market rights itself. There are too many intangibles to give any credit.

Do you give Reagan credit after he started borrowing, spending, and cut interest rates?

[baddog]

4 minutes ago, westend1 said:

Do you give Reagan credit after he started borrowing, spending, and cut interest rates?

The market is resilient and delicate at the same time. Left alone, it will right itself.

I think Reagan was a good man but I didn't like everything he did, but then I don't like everything anybody does. The only president I give credit for righting the economic ship is FDR, even though some of his policies of the New Deal were socialist in nature. I may be wrong, but it took a world war to pull us out of the funk and spawn the baby boomer generation, of which I am proud to be a member. 

[westend1]

11 minutes ago, baddog said:

The market is resilient and delicate at the same time. Left alone, it will right itself.

I think Reagan was a good man but I didn't like everything he did, but then I don't like everything anybody does. The only president I give credit for righting the economic ship is FDR, even though some of his policies of the New Deal were socialist in nature. I may be wrong, but it took a world war to pull us out of the funk and spawn the baby boomer generation, of which I am proud to be a member. 

I agree.  I think the US would have prospered under any president during WW2.   That is, assuming we won. 

[whsalum]

The market is a tricky animal to say the least. Artificially low interest rates and the Feds decision not to raise them I believe are pushing the market to new highs. The catch 22 is the economy is so sluggish the feds are afraid to raise rates right now for fear of throwing us into another recession. The chickens will come home to roost when the rates are raised and the market will adjust downward. The upside to that is it will be a time to buy .