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DanTex

(20,709 posts)
Wed Apr 15, 2020, 02:52 PM Apr 2020

I think the stock market doing so well could actually turn around to hurt Trump.

The discrepancy between all the lost jobs, food lines, people dying, and then Trump ignoring all that and focusing on propping up the stock market is getting ridiculous. Yes, I know, ordinary families own stocks too, but the reality is the majority of stock market wealth belongs to the top few percent.

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Under The Radar

(3,401 posts)
3. I still demand that Biden use that as a platform
Wed Apr 15, 2020, 03:04 PM
Apr 2020

...how does the greatest economy in the history of the solar system not lift the 98% out of the largest debt hole in history?
How does the Dow effect our everyday lives?

unitedwethrive

(1,997 posts)
4. It is also a stark lesson for those who don't realize that the DOW does not reflect everyday
Wed Apr 15, 2020, 03:06 PM
Apr 2020

economic conditions for the vast majority of citizens.

progree

(10,864 posts)
5. It's not soaring ... it's down 16% from its February high as of yesterday's close (S&P 500)
Wed Apr 15, 2020, 03:07 PM
Apr 2020

though up 33% since 2016 election day close, and up 26% since the last close before inauguration day -- not big barn-burner numbers for more than 3 years given the volatility.

And it's down a bit from January 2018, more than 2 years ago, meaning all the gains were in the first year (Obama momentum) and its been essentially flat to slightly down since (with a hair-raising roller coaster trip along the way).

progree

(10,864 posts)
11. It did at its low point, but Dow and S&P 500 both currently well above the inauguration levels:
Wed Apr 15, 2020, 09:46 PM
Apr 2020

DOW
https://finance.yahoo.com/quote/%5EDJI/history?p=%5EDJI
1/19/17 close: 19732
1/20/17 close : 19827
4/15/20 close: 23504

S&P 500:
https://finance.yahoo.com/quote/%5EGSPC/history?p=%5EGSPC
1/19/17 close: 2264
1/20/17 close : 2271
4/15/20 close: 2783

(I generally use the last close before inauguration day as my benchmark (1/19/17), but a lot of people prefer to use the inauguration day close (1/20/17). So I present both the 1/19 and 1/20 numbers to satisfy everyone).


ProfessorGAC

(64,413 posts)
14. It's Up 26%
Sun Apr 19, 2020, 08:15 AM
Apr 2020

But that's over a span of 3.25 years. So, around 8% annual.
The last 6 years of the BHO administration averaged 12.2% annually.
It appears to be more seeking it's level, than booming.

Jim__

(14,045 posts)
6. Trump takes full credit for anything that's going well.
Wed Apr 15, 2020, 03:16 PM
Apr 2020

He points the finger for anything that's going bad. The buck never stops with trump - he's not really doing anything - except getting in the way.

Wounded Bear

(58,437 posts)
7. IDK. There's a reason they decoupled Wall Street from Main Street...
Wed Apr 15, 2020, 03:19 PM
Apr 2020

most people out here in the real world just look at the numbers and decide well if those numbers are OK we must ge doing fine.

pwb

(11,204 posts)
8. People buying blocks of 10,000 shares vs a 401k is not the same.
Wed Apr 15, 2020, 03:26 PM
Apr 2020

But both are in the market is what we are to think ?

Bernardo de La Paz

(48,786 posts)
9. Well because the stimulus has tax benefits for millionaires going back to 2018. Billions
Wed Apr 15, 2020, 03:36 PM
Apr 2020
Millionaires to reap 80% of benefit from tax change in US coronavirus stimulus
Guardian article

The change – which alters what certain business owners are allowed to deduct from their taxes – will allow some of the nation’s wealthiest to avoid nearly $82bn of tax liability in 2020.

Nearly 82% of the benefits from the tax law change will go to people making $1m or more annually in 2020, according to an analysis by the joint committee on taxation (JCT). Overall, 95% of individuals who benefit from the change make $200,000 or more.

Taxpayers will lose nearly $90bn from the change, which suspends a restriction introduced in the 2017 tax bill.


https://www.democraticunderground.com/100213291442

wishstar

(5,267 posts)
12. Nothing like billions of our tax money going to corporate bailouts and to prop up Wall Street
Wed Apr 15, 2020, 10:00 PM
Apr 2020

Maddening to average Americans how companies who benefited from billions of tax cuts that they spent on executive salaries and stock purchases rather than shoring up their cash reserves to get through a crisis are now getting billions of taxpayer bailout money.

Spigots are wide open pouring out unlimited funds for the corporations but Repubs refused to spend money to enhance health care and to expand Medicaid in many states and Trump administration just a few weeks ago still insisted on cutting food stamp program by imposing more restrictive work requirements and cuts to CDC just to name a few of the penny pinching decisions.

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