this after gdp for second qtr came in at 3%. make money while you can, this wont last forever... never forget march 2020. America changed for good.
the boom continues...
- Thread starter Mdfgator
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this after gdp for second qtr came in at 3%. make money while you can, this wont last forever... never forget march 2020. America changed for good.
I figured you would have an issue with facts. Market ripped again, maybe you should take your big brain and tell the dumb asses on Wall Street it’s really a recession.
I know my grocery bill is 2 1/2 times now, but it was 3 1/2 years ago and it cost 60 bucks for a decent ribeye steak at any restaurant when it was usually never more than 40 or 45 ...
Ya, but you, as an intelligent human being should have some understanding as to why that happened. Hint - it had little to do with any president.
Now I do understand that is how the game is played and Trump should hammer Harris with Inflation (and the border) every chance he gets.....that's politics and that's the game that always gets played. Got no problem with that.
But if your trying to argue that the inflation problem itself is actually the result of presidential policy you haven't looked at what economists say about it. Here are a couple other facts:
1) Inflation was better under Obama than Trump. For the 4 Obama years it averaged 1.275%. Under Trump it averaged 2.1%. Trump likes to pretend he built the economy, but the reality is he inherited a very good situation. Biden didn't, he inherited the covid world and a much more challenging situation.
2) Inflation has been coming down for two years. The CPI of 2.9% as of July was the lowest since March of 2021. Its spiked at 9.1% a couple years ago primarily from covid stimulus spending, worldwide supply chain issues and a tight labor market, but it has been steadily dropping the last two years. 2.9% is not all that much more than the 2.1% Trump averaged. If your going to blame Biden for the rise in inflation don't you have to credit him for a huge drop from 9.1 to 2.9? Personally I think Biden had very little to do with either. But the fact is, inflation right now isn't that much higher than it was under Trump (it could change when the August numbers come out, who knows).
3) The spike in inflation in 2022 was a global phenomenon. What hit the US with regard to the Covid after effects hit the whole world (just google global inflation graphs). Just further support that the inflation spike had little to do with who was president. It hit everybody.
4) last point........Almost no economist predicted that we could get though the last 4 years without a recession occurring. They pretty much all predicted it at various levels, and not because any president. We haven't had one.......again, IMO it has virtually nothing to do with Biden (and instead is a testament to the resilient and innovative American business people and the federal reserve). But, again, playing the political game Biden/Harris should take some credit for this. The economy the last few years, as a whole, has performed better than most expected.
Happy to listen to an argument you want to counter with.
Nice presentation.
You will not agree with me, but I blame the purposeful release of Covid on the dems (or their agents) after Gates and Fauci funded gain of function research. Disbelieve all you like, but I believe Covid was released to get VBM passed and get Trump out of office.
During Obama's years the economy was bad and most investors I know largely stayed on the sidelines. Real estate tanked
During Trumps years my portfolio went up 25% allowing me to pull out a ton and invest in real estate - best financial time in my adult life.
I know what I have experienced empirically ...
Well, your right, I don't agree with your take on covid (its not logical on multiple levels), but I can't prove you wrong and you can't prove you are right, so lets just leave that one alone.
But your take on the economy and investing is just wrong. The stock market rose more under both Obama and Clinton than it did under Trump (go look it up). So if you had your portfolio invested back when Obama came in you would have made more than the Trump years. It went down under Bush when the 2008 financial crisis hit, but it has been on a consistent rise ever since, including under Biden. Real estate has skyrocketed more under Biden than Trump (not that Biden had anything to do with it). Its part of the inflation issue......real estate prices have gone up so much under Biden its become a big problem. But if your talking about investors.....the Biden real estate economy has made a lot of people rich.....much more than the Trump years. Again.....the numbers are there, real estate prices are pretty easy to find.
Trump is a perpetual salesman. He knows if he keeps saying things a lot of people will start to believe it, whether its true or not.
A snippet from the last day of Trumps presidency, to save you a little time:
"From Trump’s inauguration day, the Dow Jones Industrial Average rose from 19,827 to 30,930 on Tuesday, a 56 percent increase.
That increase is below the 71.7 percent rise the Dow saw in Obama’s first term, or the 111 percent increase under Clinton’s first term.
A similar trend was true for the S&P 500, which gained 67.8 percent under Trump, rising from 2,263 to 3,799. It gained 84.5 percent in Obama’s first term, and 79.2 percent in Clinton’s first term.
The sole exception in the past three decades has been former President George W. Bush, who saw the Dow fall 3.7 percent and the S&P fall 12.5 percent in his first four years in office.
The figure will be unwelcome news to Trump, who frequently touted the stock market’s performance as a sign of his economic acumen and business-minded policies."
I said it before and I'll say it again. I know somebody making bread, but it ain't me.
lol, and how much are you saving on your mortgage payment? You’re dominating as is most of the country. There will always be losers left behind it is what it is.
And how much did his property taxes and homeowners insurance go up?
lol, I know maff is tough. The 30 year stimi that is a 3% mortgage has a net present value in the trillions. Not to mention his equity in the home that’s likely gone parabolic. It’s been a great environment for people in the system already. It sucks for newcomers or those on the outside, ie the working poor. I don’t love it but it’s the American way.
Once again, a house going up in value doesn't benefit you until you sell it, but it does affect your insurance and property taxes.
And your girl wants to tax unrealized gains too.
Well, my portfolio went up so much during Trump's first term, I was able to pull out funds to pay off my mortgage, pay off the remaining mortgages on three rental homes, buy a new condo with cash and remodel that condo.
Biden has been an awful lot of up-and-down. There is no comparison ...
Property taxes are primarily state issues, they have gone up some, but not that much.
Insurance has doubled at least if you could even get it ...
Does it matter who's picking your pocket? I submit it does not.
I object to someone trying to tell me that inflation doesn't exist or it only exists in my mind. That person is a bought and paid for moron. Don't piss on my head and tell me it's raining ...
😂😂😂😂😂😂. No genius I have been fasting. And gas is at 40 year lows relative to inflation. You people whine about everything. Entitled Snowflakes
"Relative to inflation"
It's high, so it's everything else.
Dems have done a terrible job and screwed up a great economy.
Didn't you invest in the market under Obama? You would have made more than under Trump. If you kept your money in the DJ after Trump you would be up another 18% or so. If you kept it in the NASDAQ you would have almost doubled your money since then (the highest the Nasdaq got under Trump was about 9,350, today its at 17,713). And neither Obama or Biden had the extra jump of a huge corporate tax cut which inflated the market numbers.
If you look at the stock market graph from 2008, when the financial crisis hit, to today, it reflects that the market doesn't give a shit who the president is. Its been a bull market for the majority of the last 16 years under 3 different presidents. One of those 3 did TELL everybody is was all because of him though......so their is that difference.
Economy under Obama was crap especially the housing market. Everyone I knew sat on funds or placed them in ultra safe investments until he was gone. I know that elective dental procedures were way down during his reign. People had to save so they could afford the inflated insurance premiums and deductibles during the bs obamacare mandate. Middle class got totally hosed ...
Well your switching gears now that you apparently realize the stock market argument wasn't valid.
Obama was president for 8 years and the economy went through several things during that time. Starting with us having to dig out from the financial crisis. The fact that we where able to navigate that without falling off a cliff should be recognized as a fairly significant accomplishment. Your friends who avoided the stock market while he was president lost money as the market went up a lot. Don't blame Obama for their mistakes.
Smartest guy I know was buying in 2008 and early 2009 when everything was down....made a ton. Unfortunately I wasn't as smart as him. Or wasn't as brave. It was a scary time to invest, but that wasn't a reflection of who was president.
The stock market is up exponentially BECAUSE of rampant inflation since 2021. Deduct around 30% for those 3 years and recalculate.
I didn't say they avoided the stock market. I said they put into things that were ultrasafe. I said they avoided capital investment in business projects.
My golden retriever could have navigated the recovery from the garbage economy that Obama started with, there was nowhere to go, but up, and yet he did nothing that was brave or brazen and prolonged to the agony for much longer than it needed to be. He is the perfect example of leading from behind and the reason he has absolutely zero respect from me.. He's also a huge piece of shit as a human being - that is my opinion.
GWB gets some blame for kowtowing to congress, but the guy who gets the lions share of the blame for the housing crisis under George Bush is absolutely Bill Clinton pumped up to sub prime lending market, demanding people who should not own homes can get homes. Did anyone not see a crash coming there?
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"San Francisco, you can't even walk out on the street at night"
Signed, Ricky Pearsall.
This is indeed what everybody's thinking and everybody saying, at least everyone who matters and has money to invest.
I ran into a similar situation in the state of Texas. I had three rental houses there, but since I was a nonresident, I did not get the benefit of the 0% income tax, and also as an out of stater, I did not get the benefit of property tax reductions for people who live there and their primary domicile. I sold my houses that were costing me $21,000 a year in property and I bought two houses in Las Vegas, Nevada total property tax 5000 - same valuation, comparing the three in Texas with the two in Nevada ...
OK, you have moved this away from dealing in facts (the stock market) to opinion. I have no interest it debating you on who is and who isn't a piece of shit.
But you act like your the only person who lived through 2008........well your not and I know for an absolute fact what your saying about it being easy to recover from is off base. I work with a lot of businesses every day. Your hatred for Obama destroys your objectivity.
That being said....I don't disagree with a lot of what Kevin O'Leary is saying.......although he always goes to the extreme.
This is only going back 10 years. It’s at a 40 year low when adjusted for inflation. That’s incredible. Many reasons for this technology advancements in both ice vehicles and electric vehicles and the fracking revolution that’s in overdrive now. Stop complaining all the time and be thankful for the many good things that are going on.
Yes, I said it was my opinion, we all have them.
At what point did I intimate that I alone endured the Obama economy? I was surely not alone.
Bill Clintons policies regarding subprime loans absolutely tanked the housing market and made it infinitely harder for respectable hard working people like you and I to get loans or refi them. That is a fact ...
I just addressed your stock market unicorn and you ignored it. Not only that, tech stocks have fueled the increase in indices and are not related to main street whatsoever. Biden's administration is pure failure and thank goodness for a Supreme Court that shot his bullshit like student loan forgiveness straight in the ass. The "New Green Deal" is shit that doesn't deserve a lime covered burial.
You are absolutely nuts. lol. Clinton left office in 2000 the housing bubble blew up in 2007. Nothing wrong with junk debt if it’s rated as such. The lack of oversight on the entire financial complex under bush was a joke. I lived it. Stop defending crap and call it all out. Call out Obama, not a fan, call out Trump, not a fan, and call out Biden, not a fan. Don’t be a pathetic cheerleading muppet.
You’re getting right there with Paul Krugman, another clown who is right less often than a broken clock …
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