There are dozens of ways to measure the effectiveness of a President.
In my opinion, the Dow Jones Avg and whether or not your dick was sucked while in Office don't make the cut.
Nobody says, "hey you remember president so and so... the Dow was terrible in those days".
Sorry you can't stay on the topic of paying attention to the DOW and other indexes.
Nice deflection.
You accuse others of only quoting sources that support their point of view while you do the same thing daily.
Pot. Kettle.
~Scamp
"You quote lots of sources when they confirm your bias and ignore the facts that contradict you.
Isn't that the point you were attempting to make?"
Please be so kind as to show where I have ever quoted the Indices to try and make an economical point.
"Out of curiosity does anyone here actually pay attention to the DOW versus other indexes?"
In addition to other indices? You bet. It's like the Cliff Notes version of the wider US markets. And the S&P is not only useful on its own, it also is heavily traded in ETF and benchmarked investor funds, weighting and all.
You quote lots of sources when they confirm your bias and ignore the facts that contradict you.
Isn't that the point you were attempting to make?
~Scamp
Please be so kind as to show me where I have EVER quoted the Indices to try and make a point.
"Only when it supports a point they are trying to make."
Pot, meet kettle.
~Scamp
@Someone's coming.
In what way does that post, including the political trope that is a gross insult to the majority of career public servants in the DOJ and FBI, even touch on economics, or economic policy?
"Out of curiosity does anyone here actually pay attention to the DOW versus other indexes?"
Only when it supports a point they are trying to make.
Out of curiosity does anyone here actually pay attention to the DOW versus other indexes? I think it's completely irrelevant and consider it almost a quaint, old timey, anachronism.
I have serious reservations about the S and P 500 as well given the fact that it's weighted by market CAP, coupled with the fact that the very small number of Mega CAP companies that accordingly wield disproportionate influence in the index are all generally in the "growth stock" category. It's traditional, if not necessarily wrong, for such companies to have their stock valuations divorced from earnings based reality, on the idea that the best use for their cash flow is reinvestment in the business. Not necessarily wrong but inarguably subject to the possibility of being wrong.
Where things seem really different today vs pre-2016 is that people always had their presidential candidate, and at least some part of that decision was based on what one thought their candidate's impact to the economy might be. Whoever won though won, and even if it wasn't your pick, you respected the office and position and moved on and tried to make the best of it.
These days, some number of people do not move on if their pick loses. They literally spend the next 4 years being angry and trying to look for and construe every possible way that the person they voted against messed up. Significant numbers of people view others that didn't vote like them as enemies, even if they were friends for their whole lives up to that point. It's beyond un-American and unproductive. It's just plain stupid.
Of course you think that.
You want the current administration to fail.
Completely un-American.
Yeah, but we were talking about the Dow...
"jumped 2 feet after a fall of 500 ft. What a great resurrection."
LOL.
How far back to you want to go?
The Dow is 100 points higher than it was July 8.
The Dow is up 4.5% since Jan 1.
The Dow is up 11.7% since August 8, 2023.
The Dow is up 27.4% since Biden was inaugurated.
The Dow is up 50% since August 8, 2019.
You go into the stock market for the long term...
Bifem,
What do you think about the current economy? Has it been steady the past 3.5 yrs?
How do you compare it to 2008?
Your math skills are seriously lacking but keep flailing away.
lol
~Scamp
jumped 2 feet after a fall of 500 ft. What a great resurrection.
U.S. stocks rallied to their best day since 2022 following an encouraging update on the job market.
The S&P 500 jumped 2.3%, continuing a roller-coaster ride for the market in recent days. The Dow Jones Industrial Average added 1.8%, and the Nasdaq composite gained 2.9%.
Treasury yields also climbed in the bond market, a signal that investors are feeling less worried about the economy, after a report showed fewer workers applied for unemployment benefits last week.
Eli Lilly helped lead the market with a gain of 9.5% after delivering better profit for the spring than expected. Big Tech stocks rebounded.
U.S. stocks began rallying Thursday after a better-than-expected report on unemployment eased worries about the slowing economy.
~Scamp
And then there's Mickey who believes in Schrödinger's Biden.
When there is good news, economic or otherwise, he claims Joe was executed at Gitmo and trump is in charge.
When there is bad news, Biden is miraculously resurrected and is to blame for all of the global economic woes.
lol
~Scamp
Current - "Incumbent Presidents always want to take credit for a strong economy and deflect blame for a weak one."
I remember a history teacher making that statement as part of a class. In hindsight, it was likely his opinion, but a valid one for the most part as far as I can tell.
Take it to politics...
“The Donald Trump thing in the market amazes me,..."
Nothing new here. Incumbent Presidents always want to take credit for a strong economy and deflect blame for a weak one. In reality, beyond their political ability to drive fiscal policy, there is very little a President can do to influence the economy. Deficit spending is stimulative whether due to tax cuts or spendig increases. IMO the best metric to measure by would be economic performance relative to accumulated debt during an administration (over time debt accumulation needs to be indexed to GDP if comparing, say, Ronald Reagan to Joe Biden). By this metric, I do not think either of the last two administrations have anything to crow about.
"The shorts are comming..."
That is Sooo two days ago. :)
Interesting item today though. I took a look at bond yields based on the recent market turmoil plus a $42 billion auction of ten year treasuries today. The spread between the ten year and two year treasuries is down to 4 basis points. Typically the wisdom is that the inversion of the yield curve is a harbinger of recession and the de-inversion is the signal that the recession has begun. The ones to watch are typically the ten year five year curve and the ten year two year curve. The ten year five year has been de-inverted all year. Today's 4 basis points is as close to flat as the ten year two year curve has gotten this cycle.
Actually, yes.
