Dow hits all-time high, closing above 37,000 for first time

[Danderman123]

One of the reasons for discontent in the US is that economy is so good that there are always long lines for shoppers. Everyone is spending money.

[charleskerins]

18 hours ago, placeholder said:

The biggest reason housing prices have gone up so much is the same kind of bottleneck that caused high prices in goods. During the covid pandemic, housing construction fell creating a shortage in the pipeline. High interest rates imposed by the feds to fight inflation have also contributed.. Because mortgage rates have gone up, people are reluctant to let go of their 30 year mortgages at low fixed rates. 

https://www.bankrate.com/real-estate/expensive-housing/#payment

They are now below 7%    

[candide]

14 hours ago, Danderman123 said:

One of the reasons for discontent in the US is that economy is so good that there are always long lines for shoppers. Everyone is spending money.

That's the current paradox. People tend to be unhappy with the state of the economy, yet they behave in a different way: shops and restaurants are full, business are going on investing and recruiting people, etc...

[placeholder]

2 hours ago, candide said:

That's the current paradox. People tend to be unhappy with the state of the economy, yet they behave in a different way: shops and restaurants are full, business are going on investing and recruiting people, etc...

There have been some polls done like the consumer confidence survey. And what it shows is that more people consider their personal economic prospects to be good. But when asked about the economly in general, they tend to give it the thumbs down. This reminds of polls concerning the American educational system. When asked, Americans tended to say that the educational system in America is bad. But when asked about the educational system where they live, they tended to say that it was good.

[EVENKEEL]

On 12/13/2023 at 11:48 PM, placeholder said:

Funny about those right wingers. When the Dow goes down, it's Biden's fault. When it goes up, it's the Fed that gets the credit.

That's just human nature. I'm finally flush with my funds and won't feel bad withdrawing some for fun. It only took 2+ years to regain points to where it was when Trump was around.

[placeholder]

2 minutes ago, EVENKEEL said:

That's just human nature. I'm finally flush with my funds and won't feel bad withdrawing some for fun. It only took 2+ years to regain points to where it was when Trump was around.

Well, since double standards do explain lots of human conduct, I'm inclined to agree with you.

[placeholder]

4 minutes ago, EVENKEEL said:

That's just human nature. I'm finally flush with my funds and won't feel bad withdrawing some for fun. It only took 2+ years to regain points to where it was when Trump was around.

 

Really, that's how long it took to top the average when Trump was around? So Trump wasn't President on March 20th, 2020? That's when the Dow Jones average was 19,173.98.

 

https://www.google.com/search?q=dow+jones+average&oq=dow+jones+average&gs_lcrp=EgZjaHJvbWUyBggAEEUYOdIBCDQzNThqMGo3qAIAsAIA&sourceid=chrome&ie=UTF-8

 

[EVENKEEL]

49 minutes ago, placeholder said:

 

Really, that's how long it took to top the average when Trump was around? So Trump wasn't President on March 20th, 2020? That's when the Dow Jones average was 19,173.98.

 

https://www.google.com/search?q=dow+jones+average&oq=dow+jones+average&gs_lcrp=EgZjaHJvbWUyBggAEEUYOdIBCDQzNThqMGo3qAIAsAIA&sourceid=chrome&ie=UTF-8

 

I believe trump was around for 4 yrs as president. It was making a comeback when biden came in.  I'm sorry things are slow in the world news section on this forum. I moved my 401 K to safe ground during the downturn. Just happy I can begin enjoying the $$'s.

[placeholder]

9 minutes ago, EVENKEEL said:

I believe trump was around for 4 yrs as president. It was making a comeback when biden came in.  I'm sorry things are slow in the world news section on this forum. I moved my 401 K to safe ground during the downturn. Just happy I can begin enjoying the $$'s.

It's always entertaining to see how Trump supporters hold contrary opinions about trends. For example, here's a graphing showing unemployment levels in the USA.

https://fred.stlouisfed.org/series/UNRATE

No change in trend from the Obama administration for Trump's first 3 years in office but Trumpsters enthusiastically bestow on him the credit.

 

 

Here's the trend for GDP

https://fred.stlouisfed.org/series/GDP

Actually, GDP growth accelerated after Biden took office. Yet "Bidenomics" is a term of reproach among Republicans.

 

 

[EVENKEEL]

13 minutes ago, placeholder said:

It's always entertaining to see how Trump supporters hold contrary opinions about trends. For example, here's a graphing showing unemployment levels in the USA.

https://fred.stlouisfed.org/series/UNRATE

No change in trend from the Obama administration for Trump's first 3 years in office but Trumpsters enthusiastically bestow on him the credit.

 

 

Here's the trend for GDP

https://fred.stlouisfed.org/series/GDP

Actually, GDP growth accelerated after Biden took office. Yet "Bidenomics" is a term of reproach among Republicans.

 

 

if biden is so awesome how come his polling is so dismal? I know many who are of retirement age and have no 401K money stashed. So this good news is basically meaningless to a good portion of Americans.

[candide]

8 minutes ago, EVENKEEL said:

if biden is so awesome how come his polling is so dismal? I know many who are of retirement age and have no 401K money stashed. So this good news is basically meaningless to a good portion of Americans.

And the reason why they have no money stashed is Biden? Not because they failed to spare enough over many years, or made wrong choices?

Edited December 15, 2023 by candide

[placeholder]

8 minutes ago, EVENKEEL said:

if biden is so awesome how come his polling is so dismal? I know many who are of retirement age and have no 401K money stashed. So this good news is basically meaningless to a good portion of Americans.

Mainly because the bout of inflation was scary and people still haven't gotten over it. Given that it's gone down rapidly and the fed is now saying it will lower rates, 6 months from now folks may be feeling differently.

[EVENKEEL]

13 minutes ago, candide said:

And the reason why they have no money stashed is Biden? Not because they failed to spare enough over many years, or made wrong choices?

Where did I say it's biden's fault? I was saying so many Americans aren't vested in a retirement fund and don't follow the business news.

[Danderman123]

1 hour ago, EVENKEEL said:

Where did I say it's biden's fault? I was saying so many Americans aren't vested in a retirement fund and don't follow the business news.

Wages are up for those people.

[FruitPudding]

On 12/14/2023 at 1:25 PM, KhunLA said:

Yep ... I traded for about 20 yrs, and 2 things I never looked at or cared about, the Dow and S&P.  Guess it's fine for those wanting <10% ROI.

 

What was your ROI?

[gargamon]

13 hours ago, EVENKEEL said:

Where did I say it's biden's fault? I was saying so many Americans aren't vested in a retirement fund and don't follow the business news.

Funny how the majority of the people you refer to are MAGA. Not smart enough to see through trump. Not smart enough to invest for retirement. Hmmmm. 

[KhunLA]

43 minutes ago, FruitPudding said:

 

What was your ROI?

50-1000%.  I don't think I sold anything <25%, after the Y2K scam.  I held most of those for about 1.5 yrs.  They'd split every 3-6 months.  Used that to chip away at the market and build my account.  

 

Then sold my RE, and funds to the market.  Switched to pennies & options after 2000.  Speculative oil after Cheney/Bush2 got appointed.  Along with a bit of inside trading.

 

Took less then 3 yrs to build my retirement/oops fund.  Wish I had known all this in my 20s, instead of my late 40s.   Would have retired at 30, instead of 45.

[candide]

15 hours ago, EVENKEEL said:

Where did I say it's biden's fault? I was saying so many Americans aren't vested in a retirement fund and don't follow the business news.

Ooops! My mistake!

[EVENKEEL]

4 hours ago, gargamon said:

Funny how the majority of the people you refer to are MAGA. Not smart enough to see through trump. Not smart enough to invest for retirement. Hmmmm. 

Sounds like a comment from a foreigner who doesn't really have a personal grasp of the American people.

[gargamon]

1 hour ago, EVENKEEL said:

Sounds like a comment from a foreigner who doesn't really have a personal grasp of the American people.

I lived in the US about 15 years. Many of those in an INBRED state. I couldn't believe how backwards the people in the INBRED states were. The only thing I could come up with at the time was that after the civil war, the gene pool dried up in those states due to most of the males being killed. 

So yes, Trump preys on those least capable of seeing through his BS. 

[Tug]

12 hours ago, gargamon said:

Funny how the majority of the people you refer to are MAGA. Not smart enough to see through trump. Not smart enough to invest for retirement. Hmmmm. 

I tend to agree many have failed to (make it)and face an old age of poverty + trump constantly telling them it’s the government’s fault these sad specimens think trump well save them obviously he detests them 😞 

[Danderman123]

The Stock Market is voting for Biden.

[candide]

1 hour ago, Danderman123 said:

The Stock Market is voting for Biden.

So are most businesses which are  going on recruiting employees and investing.

[noobexpat]

I haven't counted but must be up 2 million baht this week.

Yay!

[Danderman123]

27 minutes ago, noobexpat said:

I haven't counted but must be up 2 million baht this week.

Yay!

Another vote for Biden.

[KhunLA]

Understanding the market, once achieved, trading is easy ...

https://www.facebook.com/reel/666373389023633

[placeholder]

13 hours ago, Danderman123 said:

The Stock Market is voting for Biden.

Well, they're really voting for the fact that the Fed signaled it won't raise interest rates. Many economists disagreed with the harshness of the Fed's interest rate policy. In fact, it looks more and more that, as many economist argued, the sharp rise in inflation was due to supply disruptions because of the Covid pandemic.

[Dcheech]

 

With the market up, I put in a sell order. Bang it through Wise & over here before the 1st. Just in case there is an expat funds tax. I do not believe there will be one, but with the Market up, an easy decision to err on the side of caution. Thanks Mr. Biden

 

Time for Christmas Bud.
Happy Holidays

 

[candide]

Trump is now complaining that soaring stocks are 'making rich people richer' after bragging about the market's gains while president

 🤣

https://www.yahoo.com/finance/news/trump-now-complaining-soaring-stocks-214539045.html

[placeholder]

Actually, a figure that's far less sexy but far more important would be what Treasury bonds are selling for.