Thread: America's biggest boom since 1946

Originally Posted by OhOh

Biden suffers more than Beijing from high tariffs:

Global Times editorial

Did they just change the title from baldy orange cunto to Biden?

This is very, very old news indeed.

A review

Originally Posted by S Landreth

• Dow, S&P 500 close at record highs, as U.S. stocks book weekly gains after stronger-than-expected jobs report on President Joe Biden’s 199^th day in office

What did the major indexes do?

The Dow Jones Industrial Average DJIA, +0.41% rose 144.26 points, or 0.4%, to a record 35,208.51.

The S&P 500 index SPX, +0.17% added 7.42 points, or 0.2%, to a record 4,436.52.

• Biden touts huge jobs report as U.S. vaccination rate hits 50%

President Biden trumpeted the strong July jobs report on Friday as evidence that his economic plans are working, but emphasized that more work still needs to be done to ensure the economy's full recovery as the Delta variant continues to spread.

Why it matters: The U.S. added 943,000 jobs in July, while the unemployment rate fell from 5.9% to a new pandemic-era low of 5.4%.

• U.S. jobless claims down 14,000 to 385,000 as economy rebounds

The number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000, more evidence that the economy and the job market are rebounding briskly from the coronavirus/Trump recession.

Originally Posted by S Landreth

A preview to the post tomorrow…………

The just for fun part.

Nobody's ever seen a number like this! New data reveals just how bad the Trump economy actually was

Former president Donald Trump was obsessed with the gross domestic product.

"Nobody's ever seen a number like this!" Trump declared at a rally last October, referring to the GDP.

As it turns out, Trump was right — but not in a good way.

Across Trump's four years in office, the nation recorded its lowest overall rate of GDP growth — at 1.6 percent — since President Herbert Hoover's administration during the Great Depression, according to a new report from Bloomberg.

Justin Fox - Last week's GDP release included revisions back to 1999, so it's time for a new set of presidential growth comparisons! Starting with the basic version: annualized growth in real GDP from 1st quarter in office to last: https://twitter.com/foxjust/status/1422180928730828800

Originally Posted by S Landreth

The S&P 500 index SPX, +0.17% added 7.42 points, or 0.2%, to a record 4,436.52.

As long as it keeps going for his whole term and doesn't pop, and inflation doesn't go through the roof cancelling most of these gains because of the unnecessary amount of money hes trying to flood the economy with, I will call it a success.

Severe bull market right now and he should be paying more attention to it.

Oh look,………

Dow Jones, S&P 500 hit records as Senate passes President Joe Biden’s $1.2T bipartisan infrastructure bill | Fox Business

Originally Posted by S Landreth

Dow rises 220 points to new record on President Joe Biden’s 204^th day in office after inflation report is not as bad as feared

The 30-stock Dow gained 220.30 points, or 0.6%, to 35,484.97 to close at a new record. The index was lifted by names like Caterpillar and Home Depot. The S&P 500 traded up 0.2% to 4,447.70, also notching an all-time high.

The inflation reading supported the Federal Reserve’s belief that high price pressures are “transitory” as the economic recovers from the pandemic-triggered recession.

PPI inflation just hit 1%. Which is 12.7% per annum.

It was expected to be .60%. Huge over shoot. Insanity

S&P 500, Dow set fresh records on President Joe Biden’s 205^th day in office as recovery marches forward | Reuters

The Dow and S&P 500 jumped to record closes for a third straight day on Thursday, with mega-cap technology stocks driving the market higher as investors warmed to jobs data showing a steady U.S. economic recovery.

Home rents set to turbocharge US inflation

Median rents soared 19% year on year in second quarter, a surge that hasn't yet been properly reflected in the CPI
by David P. Goldman August 12, 2021

Home rents set to turbocharge US inflation - Asia Times
43,000,000 homes allegedly.

Dow Jones, S&P tick to records on President Joe Biden’s 206^th day in office in winning week | Fox Business

The Dow Jones Industrial Average rose 16 points, or 0.05%, while the S&P 500 index and the Nasdaq Composite index advanced 0.16% and 0.04%, respectively. Both the Dow and the S&P 500 booked their fourth straight close in record territory and nabbed weekly gains. The Nasdaq finished less than 73 points below its own all-time peak and slipped for the week.

^ It's an inflationary melt up based around monetary policy. This happens everywhere this kind of monetary policy is tried

No need for infrastructure works or job creation projects. Just print free money and hand it over to the people!

Jobs market will always rebound following losses after a pandemic. It can’t all be blamed on Trump, but he was definitely not the right guy to be running the show during a pandemic.

The USA has a significant number of smart people, balanced out by the morons seeking Darwin awards. This is the big danger in all western democracies. Giving people the freedom of speech and thought can quickly submerge the country in disaster, because everyone has access to the internet, and the media have filled it with fake news and given that free access to conspiracy theorists.

On the + side, these people have made themselves more visible, and easier to ignore. It’s ok for the smart ones like SL who understand that markets are made of imaginary money, and values can fall as well as rise. Timing your escape is critical, but I’m not confident for those Darwin Award seekers.

On President Joe Biden’s 209^th day in office the Dow Jones Industrial Average rose 110.02 points, or 0.3%, to 35625.4, to end the trading day at its 35th record close of 2021. - WSJ

Stocks extend gains, S&P 500 and Nasdaq set record highs on Joe Biden’s 217^th day in office.

On President Joe Biden’s 220^th day in office the S&P 500 and Nasdaq reach record highs after Powell's Jackson Hole remarks

The S&P 500 reached a record high, led by gains in the energy, materials and communication services sectors. The Nasdaq added more than 1% to also set fresh record intraday and closing highs as Treasury yields fell across the curve.

Economists often remind us that the stock market is not the economy. The stock market rose under Trump and Obama, but people suffered, except for the 1%. A much better measure of prosperity is equality in combination with GDP. No single measure captures prosperity. Thomas Piketty, a French economist and professor of economics at the School for Advanced Studies in the Social Sciences and associate chair at the Paris School of Economics, writes extensively on wealth and inequality. His famous work "Capital in the 20th Century", painted a grim picture of the US over the last half century where a democracy has been transposed into a corporatocracy.

Originally Posted by S Landreth

On President Joe Biden’s 220th day in office the S&P 500 and Nasdaq reach record highs after Powell's Jackson Hole remarks

Who can consider such figures to be excellent economy grade when the figures can plummet drastically within few days? Hence, also the economy plummets within few days? Yes, if the "economy" is given by the lottery players on Wall Street.

Then, better to look rather for Las Vegas figures...

Originally Posted by Klondyke

the figures can plummet drastically within few days

Nah, Everyone buys low and holds.

Ask any investor.

On Joe Biden’s 223^rd day in office the S&P 500 and Nasdaq close at record highs as Wall Street looks for strong finish to August

The S&P 500 set another record high on Monday as the stock market continued to rise in the final days of August.

The broad market index gained 0.43% to set a new record high 4,528.79, while the Nasdaq Composite traded up 0.90% for its own all-time high 15,265.89

July sees remarkable return of incomes after massive hiring spree

Incomes got a sizable boost in July. Nominal personal income grew 1.1% to $20.67 trillion during the month, accelerating from June's 0.2% monthly rise, according to Friday’s government figures.

Its simple. The more money the Fed prints, the more US stocks rise.

And when it stops?

Originally Posted by S Landreth

Guess what?

must hurt

Originally Posted by OhOh

And when it stops?

Well when it stops , it all comes crashing down. But they are never going to stop. So the US dollar will be printed till it reaches an end point. It's taking far longer than anyone expected but it will happen. Every day that goes by just makes it that much more inevitable.