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Another day, another three market records set in this horrible Biden economy
Posted by: pdq
Date: March 21, 2024 06:03PM
Dow 40K coming soon.

Quote

Stocks climbed Thursday and added to the previous session’s gains, powering the major averages to new record closing levels.

… “People have faith in the Fed right now, and that cuts are coming,” said Jay Woods, chief global strategist at Freedom Capital Markets. “We are in a good place…”

How much longer can this American carnage go on?

(PS- before the usual suspects spread their misinformation, those at the lowest income levels have seen high real (ie inflation-adjusted) wage growth - “historically fast” in fact - up 9% since Trump’s time.)
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: Speedy
Date: March 21, 2024 06:15PM
And I unloaded most of my stocks and bought real estate - which is also up.

I am thinking of investing in some rat infested tenement in NYC that will be undergoing a fire sale. I’ll have to evict a family from the top two floors but it shouldn’t be too hard once the oldest male in the family is in lockup.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.



Edited 1 time(s). Last edit at 03/21/2024 06:18PM by Speedy.
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: bfd
Date: March 21, 2024 07:25PM
It's a bloodbath!

RollingEyesSmiley5
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: S. Pupp
Date: March 21, 2024 11:54PM
Fake news.
We tanked bigly, and everyone knows it.
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: gabester
Date: March 22, 2024 05:50AM
Yet I have a coworker who doesn't believe the government.
He doesn't trust the banks so he's put his money in crypto.



g=
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: Mr645
Date: March 22, 2024 06:42AM
Making the rich richer. Even with crazy inflation, thanks to massive increases in investment earnings, my wife traded her BMW in for a Maserati.

How much do you have invested in the markets?



"he is going to start WW3!!!!"
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: Ted King
Date: March 22, 2024 09:05AM
Quote
gabester
Yet I have a coworker who doesn't believe the government.
He doesn't trust the banks so he's put his money in crypto.

I hope he is young enough that he will be able to rebuild after he loses a lot of his wealth.



e pluribus unum
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: pdq
Date: March 22, 2024 09:58AM
Quote
Mr645
Making the rich richer.

But unlike several previous supply-sider administrations, also making the poor richer.

Their lives are better than four years ago; how about yours?
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: Acer
Date: March 22, 2024 10:03AM
That's a rising tide lifts all boats argument. I do wonder about that.

One metric might be food insecurity. It rose a "statistically significant" amount between 2021 and 2022. Numbers for 2023 are not there yet. I do not know if it controls for population growth, I have not looked under the hood. Here's the site: [www.ers.usda.gov]
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: Mr645
Date: March 22, 2024 10:33AM
Quote
pdq
Quote
Mr645
Making the rich richer.

But unlike several previous supply-sider administrations, also making the poor richer.

Their lives are better than four years ago; how about yours?

Are you blind? Incomes have dropped in relation to inflation. People living on oSocial Security are decimated. Inflation since Biden took office is averaging 5.7% per year, 17% total. Social security is up 9.6%. Add that inflation on food and rent is up much higher than overall inflation.



"he is going to start WW3!!!!"
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: pdq
Date: March 22, 2024 10:58AM
Nope, not blind. Are you?

Quote

Biden-Harris policies over the past three years have contributed to strong wage growth—wage growth that has outpaced inflation. Support for labor unions and strong economic growth have served to create an economy that has strengthened workers’ voices.[2] Workers have capitalized on the environment created by these policies, successfully bargaining for higher wages. As a result, earnings have outpaced increases in prices such that real wages have increased since before the pandemic.

Real weekly earnings for the median worker grew 1.7 percent between 2019 and 2023.[3] This means that one week of pay for the median worker now buys more than a week of pay did in 2019, despite higher prices. Furthermore, as shown in Figure 1, the increases in earnings are by no means concentrated at the top: in fact, they skew toward the middle class and the lower end of the income distribution. The 25th percentile of the wage distribution saw their nominal weekly earnings grow by $143, from $611 in 2019 to $754 in 2023. When adjusted for inflation, this amounts to a 3.2 percent increase in real earnings. Real earnings increases were particularly strong for the median Black and Hispanic Americans, who saw increases of 5.7 and 2.9 percent, respectively.

From treasury.gov.



Those of us in the stock market are also doing quite well.

I know - probably all fake news, right?
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: DeusxMac
Date: March 22, 2024 01:29PM
Quote
Mr645
Are you blind? Incomes have dropped in relation to inflation. People living on oSocial Security are decimated. Inflation since Biden took office is averaging 5.7% per year, 17% total. Social security is up 9.6%. Add that inflation on food and rent is up much higher than overall inflation.

Citations, or just what you feelX?
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: pdq
Date: March 22, 2024 06:03PM
Even on a down day, more records. The NASDAQ, yes, but also:

Quote

The S&P 500 has surged 27% since October — on track for the biggest-ever advance since at least 1970 ahead of a likely monetary-easing cycle, according to data compiled by Ned Davis Research and Bloomberg.

Or maybe the realization that we’re not actually doomed to go backward to Trump again.
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: Mr645
Date: March 25, 2024 03:00PM
Quote
pdq
Even on a down day, more records. The NASDAQ, yes, but also:

Quote

The S&P 500 has surged 27% since October — on track for the biggest-ever advance since at least 1970 ahead of a likely monetary-easing cycle, according to data compiled by Ned Davis Research and Bloomberg.

Or maybe the realization that we’re not actually doomed to go backward to Trump again.

Trump delivered record stock growth while closing the wage gap and putting more money in the pockets of hourly workers. Biden is still building wealth with more records stock values but inflation is crippling the hourly worker



"he is going to start WW3!!!!"
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: DeusxMac
Date: March 25, 2024 07:16PM
Quote
Mr645
Trump delivered record stock growth while closing the wage gap and putting more money in the pockets of hourly workers. Biden is still building wealth with more records stock values but inflation is crippling the hourly worker

bs smiley
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: Acer
Date: March 25, 2024 09:57PM
Would that be the hourly worker for which Congress has refused to update the minimum wage since 2009?
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Re: Another day, another three market records set in this horrible Biden economy
Posted by: Mr645
Date: March 26, 2024 09:57AM
Quote
Acer
Would that be the hourly worker for which Congress has refused to update the minimum wage since 2009?

That's why we should never have career, decade long members of Congress.

Term Limits



"he is going to start WW3!!!!"
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