There's no real evidence that the President has much of an influence on the economy.
Dow Hits 20000 for First Time
91–100 of 214 posts
Re: Dow Hits 20000 for First Time
#92Earlier quoted context omitted.
Brexit is a bad example because the predictions were accurate. If you are a foreign investor (your main currency being something other than GBP) and invested in the FTSE then the loss on your GBP was higher than your profit on the index. Slightly different story for UK based investors: While you made a profit on your FTSE ETF, those gains will to some extent be offset by a rise in inflation. Stocks are in general a g…
They were not. https://en.wikipedia.org/wiki/Opinion_polling_for_the_United...
I was referring to the predictions about market impacts.
Re: Dow Hits 20000 for First Time
#93Earlier quoted context omitted.
Fine, but what if there is a chance that the huge heap of regulations supporting entrenched interests is broken up? I'm looking at you Comcast
Let's see which regulations get cut first. So far, it's not the government contracting regulations. Bonus: when Trump "freezes the size of Federal employment" do you think that will be match by a freeze in contracting, or a boost in crony contracts?
Stuff still needs to get done, so a hiring freeze means needing a workaround, they will find money for contractors because it is seen as a limited time expense, even though it is probably 3x or 4x more expensive over the long term. When they tell you they cut the size of government they won't tell you that government costs went up, or they will tell you government payroll is down and contractors get costed as something other than payroll.
Re: Dow Hits 20000 for First Time
#94Trump for all his craziness is vehemently pro business. I know the whole tech crowd wants him to crash and burn but the stock market rising is no surprise to me. Whether it's worth the damage done to the poor and the environment is yet to be seen.
> Trump for all his craziness is vehemently pro business. No he is definitely not. Trump is anti-business and he makes that very clear. His campaign promises and actions since election are super clear that he is pro-his-wealth and not pro-business. A pro-business politician would raise taxes on the wealthy, provide tax cuts for the middle class, increase the corporate tax rate, improve immigration so that more people…
Could you explain why any of what you say a 'pro-business' politician should do is pro-business? I think a lot of people would disagree with you on those points.
Re: Dow Hits 20000 for First Time
#95"The Dow is dumb! Calculating a price-weighted average of a small arbitrary group of stocks is no way to go through life, son, and no one should care if that average reaches 20,000." - Matt Levine from https://www.bloomberg.com/view/articles/2017-01-11/insider-t...
Exactly. This is the most pointless economic indicator ever.
Re: Dow Hits 20000 for First Time
#96So what? The Dow is a terrible indicator of even how well the stock market or the economy as a whole is doing. It is price weighted instead of market cap weighted so smaller companies that released fewer shares at a higher price have more impact on the Dow than larger companies. http://www.npr.org/sections/money/2017/01/04/508261371/episo...
Alright how about NASDAQ and S&P 500 hit record highs at the same time.
That would be a much better headline.
Re: Dow Hits 20000 for First Time
#97Remember when nearly the entire business media predicted that if Trump was elected the stock market would crash immediately? Some of my smartest friends (at hedge funds) placed large bets mid to late 2016 that the market would decline. Now here we are. The lesson isn't that Trump is awesome for the economy (maybe he is, maybe he isn't) or that the market won't crash tomorrow (maybe it will, maybe it won't) but rather…
It takes a long time for economies to correct to a President's actions- on the order of years. It's better to judge a President's effect on the economy at the end of their tenure than at the beginning. It's also been shown that the President has less affect on the economy than people's perception would have them to believe.
> It takes a long time for economies to correct to a President's actions- on the order of years.
Those predictions were for short term effects.
Re: Dow Hits 20000 for First Time
#98Other people have covered how the Dow is a mediocre stock index. The other half is that 20k doesn't mean anything either. It's just a number calculated by the math-function of the index. The psychology is mildly fun, just like a 50th birthday may be more celebrated than a 49th. Round numbers appeal to us. But 20k dow says nothing more about the state of the economy than the 19.9 dow did a few days ago.
Mediocre? It's worse than that. It's worthless. Stock price means nothing.
Re: Dow Hits 20000 for First Time
#99Trump for all his craziness is vehemently pro business. I know the whole tech crowd wants him to crash and burn but the stock market rising is no surprise to me. Whether it's worth the damage done to the poor and the environment is yet to be seen.
> Trump for all his craziness is vehemently pro business. No he is definitely not. Trump is anti-business and he makes that very clear. His campaign promises and actions since election are super clear that he is pro-his-wealth and not pro-business. A pro-business politician would raise taxes on the wealthy, provide tax cuts for the middle class, increase the corporate tax rate, improve immigration so that more people…
Your list is largely comparable to what one would see as a list of goals from someone sympathetic to European style socialism.
And yet the USA is the dominant economy in the world. How do you square that reality with your claim of what a "pro-business politician" would do?
Re: Dow Hits 20000 for First Time
#100Earlier quoted context omitted.
Fine, but what if there is a chance that the huge heap of regulations supporting entrenched interests is broken up? I'm looking at you Comcast
Actually, axing the net-neutrality regulations, which he is sure to do, will help Comcast and AT&T.
Yup his choice for Head of the FCC is actually quite anti net-neutrality.