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.
Dow rises 220 points to new record on President Joe Biden’s 204th 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.
Keep your friends close and your enemies closer.
S&P 500, Dow set fresh records on President Joe Biden’s 205th 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.
Sven Henrich
@NorthmanTrader
"How about a Fed Chair being all long stock market ETFs while presiding over market decisions that benefit him personally?"
"Federal Reserve Economic Data (FRED) is a database maintained by the Research division of the Federal Reserve Bank of St. Louis that has more than 765,000 economic time series from 96 sources"
Federal Reserve Economic Data - Wikipedia
A tray full of GOLD is not worth a moment in time.
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 206th 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.
An image that supports his suggestion:
Last edited by OhOh; 25-08-2021 at 08:25 PM.
On President Joe Biden’s 220th 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.
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...
I understand. Here are a few reasons why I post about the stock market and will continue to do so……….
1 & 2 - Remember the embarrassment we had as a president? It would tweet about the market, bring it up at rallies and its followers would start gushing.
3 - There are some (even a poster here) that wanted it to be re-elected because of the stock market performance during its awful time in office. Guess what?
Last edited by S Landreth; 28-08-2021 at 12:31 PM.
On Joe Biden’s 223rd 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?
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