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Utopia Talk / Politics / THIRTY THOUSAND
Average Ameriacn
Member
Tue Nov 24 14:23:01
A new record, much much higher than it ever was during the Obama Biden administration. If Trump would stay President then we all would get rich.


http://www...es-covid/2020/11/24/id/998576/

"As the stock market has just broken 30,000, it's never been broken, that number," Trump said early Tuesday afternoon. "Nobody thought they'd ever see it. It's the 9th time since the beginning of 2020 and it is the 48th time that they have broken records during the Trump administration."
obaminated
Member
Tue Nov 24 16:10:32
Good news
tumbleweed
the wanderer
Tue Nov 24 17:42:08
Newsmax edited out where he said "that’s a sacred number: 30,000"
(that was what he said in between their two quote fragments)

maybe cause it's fucking weird thing to say

& holding a 60-sec no-questions press event was a fucking weird thing to do

whole event transcript:
http://www...sident-trump-economy-112420-2/
Rugian
Member
Tue Nov 24 17:51:18
"& holding a 60-sec"

He goes long form, you complain he's rambling. He goes short form, you complain it's weird.

"no-questions press event"

Maybe because when the press gets to ask questions, they ask things like "WILL YOU PARDON YOURSELF" during a goddamn turkey pardon.
habebe
Member
Tue Nov 24 17:53:50
TW will complain about anything Trump does.
patom
Member
Tue Nov 24 18:10:57
"A new record, much much higher than it ever was during the Obama Biden administration."

Obama left office with it at a record high. Trump tried and still tries to take credit for saving the nation from the Recession.
http://www...87CcgQBjuLpTufmNwz4CqUaeaWTL8U
renzo marQuez
Member
Tue Nov 24 18:18:06
The economy was awful throughout Obama's presidency. It remained awful during the Trump years. Biden won't make it any better.
jergul
large member
Tue Nov 24 18:22:41
http://www.nbim.no/en/

With that said, record breaking now in the midst of a panadmic is symptomatic of something horribly, horribly wrong.

Cheering this is like cheering dramatic increases in the price of tomatoes. Its not even long term good for tomato merchants, let alone the people who suddenly feel rich because they have 3 tins of tomato sauce in their pantry.
patom
Member
Tue Nov 24 18:38:19
renzo, do you recall what Obama was handed when he took office?
Dukhat
Member
Tue Nov 24 19:13:43
It went up because of Biden. Nobody cares about Trumo anymore. It’s locking in a competent Coronavirus response and the new vaccines.
habebe
Member
Tue Nov 24 19:32:22
http://www...really-was-better-than-obama-s

Good read....from Bloomberg at that.
jergul
large member
Tue Nov 24 19:34:29
It went up because a lot of liquidity was added and consumer spending remains flacid. Money has literally nowhere to go other than into stocks and fixed assets.
Habebe
Member
Tue Nov 24 21:14:39
Jergul, No one wants to hear about your E.D.
jergul
large member
Wed Nov 25 01:28:01
Habebe
Do you blame past drug use on your obvious familiarity with the jargon related to that particular affliction?
habebe
Member
Wed Nov 25 01:33:23
Ypur deflecting.
Nimatzo
iChihuaha
Wed Nov 25 01:56:55
Low interest rates and helicopter money like never before together with the fact that jergul mentions, half the shit (or something) you would normally spend money on, is either closed down or operating at extremly low capacity.

This is perhaps not the best use of capital at the moment considering countries are borrowing money from their future to carry their country through this. When is it a good use of resource to engage in zero sum games? It is one thing if you are buying into an IPO giving the company your money to invest in something, but we are talking about day to day speculation.

Working as intended, AKA broken. I do it too. I requested the bank to freeze our payments (only paid interest), we didn't need to, but I took that money and bought funds and marginally beat the cost of interest. Yeay free market of retardation!
Dukhat
Member
Wed Nov 25 03:00:18
If 30,000 people had voted for Trump instead in Wisconsin and Arizona and Georgia, Trump would be president. 30,000 so scary.
Paramount
Member
Wed Nov 25 03:06:38
” It's the 9th time since the beginning of 2020 and it is the 48th time that they have broken records during the Trump administration.”


Maybe everyone is just happy that 2020 is the final year of the Trump administration?
earthpig
GTFO HOer
Wed Nov 25 03:19:03
It's just inflation, dumbasses.

The same reason all the fake appraisal websites (redfin, zillow, etc) say my personal home is up in value 15% since March.

It's not appreciation, it's inflation. Nothing has increased in value. The individual dollar is cheaper and does less. The extra $50k used to get you a home with another bathroom, now that same $50k does jack shit but get you a similar home without that extra bathroom.

I've been saying that for like 7 months, not really here but other places online and in person, at speaking events, etc.

http://fred.stlouisfed.org/series/M2
earthpig
GTFO HOer
Wed Nov 25 03:24:25
I have not improved my home 15%, my neighborhood is not 15% nicer, and so on. Inflation, not appreciation. They're printing money to suppress what "risk-based" mortgage interest rates should be, and inflate real estate values.

2008 NEVER AGAIN OMG PRINT THE MONEY PRINT THE MONEY PRINT
earthpig
GTFO HOer
Wed Nov 25 03:26:07
In 2022, Ph.D economists will pine and wonder and debate and all that shit, over the truth of what I just told y'all. It will be a vigorous debate.

At the end of the day, what I just said will be the theory that best matches the evidence before you at that point. Mark my words.
renzo marQuez
Member
Wed Nov 25 05:14:33
patom
Member Tue Nov 24 18:38:19
"renzo, do you recall what Obama was handed when he took office?"

Yes.
renzo marQuez
Member
Wed Nov 25 05:16:23
ep is correct. These numbers are not related to the actual health of the economy which has been awful for a long time. We never recovered from the Great Recession.
jergul
large member
Wed Nov 25 05:29:00
EP
Hence my tomato soup analogy. You are hardly the only one that see this :).
Average Ameriacn
Member
Wed Nov 25 05:35:19
THIRTY THOUSAND!

NEVER BEFORE!
jergul
large member
Wed Nov 25 05:44:06
AA
Why not aim for thirty thousand billion?
Average Ameriacn
Member
Wed Nov 25 05:45:24
Only when Trump gets elected in 2024
werewolf dictator
Member
Sun Nov 29 05:21:27
"renzo, do you recall what Obama was handed when he took office?"

it's easy to rapidly grow economy fast after it collapses.. and obama never did it in 8 years

just look at trump.. after economy collapses under trump due to covid.. just in next quarter trump grows economy at 33.1%.. and in quarter after that is projected at 11% gdp growth by atlanta fed
habebe
Member
Sun Nov 29 05:31:40
^Sounds like a good path to a quick recovery.
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