He was all gangbusters taking credit for the meteoric rise of the market when he took office, so I'm sure he'll take the blame for a year's worth of growth getting wiped out in the last 3 weeks.
Trump's Stock Market Sucks
- Thread starter yyz
- Start date
The tax cuts sure helped. Almost a year later and the stock market is down and the debt is soaring.
Trump called the tax cuts an economic miracle. What a dumb ass.
Trump called the tax cuts an economic miracle. What a dumb ass.
DOW Jan 1 2018: 24,809
DOW Nov 21 2018: 24,464
NASDAQ Jan 1 2018: 6,937
NASDAQ Nov 21 2018: 6972
Back to my point. The tax cuts took effect in January. Trump called it an economic miracle. Doesn't look like it.
DOW Nov 21 2018: 24,464
NASDAQ Jan 1 2018: 6,937
NASDAQ Nov 21 2018: 6972
Back to my point. The tax cuts took effect in January. Trump called it an economic miracle. Doesn't look like it.
Just taking office, the stock market got an incredible bump. His economic miracle tax cuts haven't done shit. His trade war with China and the soaring debt are just going to make things worse. There's a reason they are predicting a recession and higher than normal inflation.
You can't cut income (taxes) and increase spending and expect things to work out.....unless you're a Republican.
By the way, great chart. lol
Both sides are eager to use "facts" that have no substance. While the Dow is a touch down since the tax cuts took effect you have no way to know how much more it might be down without those tax cuts. Perhaps it's a win by staving off worse losses. We really don't know.
For example, the Dow closed at just under 20,000 when Obama left office and its nearly 25,500 now. Would you be willing to credit Trump for fo a 25% increase over what Obama left us? Certainly not.
Point being, some things are just not quantifiable.
That's actually a great argument and one I would use if I had to debate this from the other point of view. It would speak to the artificial large bump in the election of a Republican to the WH and the inevitable correction which was only staved off by this cut.
HOWEVER, I stand firmly behind my statement that you can't cut income and increase spending and expect your economic outlook to improve.....unless you believe in trickle down economics which has NEVER proven to work.
That's the point I make. I don't blame President Trump for the downfalls, and I'm not going to credit him for the gains. People like Hedge want to claim The Donald is the reason for all good, but there are other (Dems) factors in the bad.
I completely agree, I was just taking your earlier post in a vacuum and pointing out we don't know what we don't know. YYZ said it better in this quote:
Yep. A sitting president often has little to do with whatever good or bad happens as they tend to not make, and in some cases have the ability to make, large changes that could be good or bad.
The President (regardless of who it is) also has laws and processes that must be followed, he is still only one man and can only do so much.
Big business and (IMO) healthcare/drug companies are much more responsible for the economic gains or losses of the country. As these outfits endeavor to keep more and more of the money in the pockets of fewer and fewer people it hurts the economy. The opposite is also true, when they share the wealth in the form of higher wages and/or better healthcare and more affordable healthcare the entire economy wins because most people spend that extra money, very few are saving it. I couldn't even begin to guess the number of families in this country that live paycheck to paycheck. Give them a little more each week and they funnel it right back into the economy.
Wal Mart is a good example, by no means do I think $11 is a livable wage, but when they took every employee up to a minimum of $11/hour I can't help but be convinced that money went nearly 100% back into the economy each week as opposed to it sitting in another Walton's bank account.
Big business, healthcare and drug companies can do so much more for our economy and any sitting President will ever be able to. Finding a President to hold their feet to the fire is a task we apparently haven't been able to do.
We've had 200+ years to find a President who will go after big money interests. Hasn't happened yet. Never will:
1. It costs a shitload of money to run for the Presidency. Nobody who has that kind of money is going to give to a candidate who might "hold their feet to the fire".
2. There is an answer: Public funding of elections. Never happen.
It crushed it. Stocks lower than October 2017. So much for the Trump Bump. Reality bites.
https://finance.yahoo.com/news/stock-futures-fall-dow-set-open-150-points-lower-135652618.html
