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The Stock Market under Joe Biden things are looking down! (1 Viewer)

General Malaise said:
Joe Cool just crushing it.  Dow and S&P at record highs.  Retail sales exploded, jobless claims down.  Thank  you, Father Biden!
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He should tweet about it more often.  All these people probably don't know how good the stock market is doing without the POTUS tweeting about record highs...

 
yak651 said:
He should tweet about it more often.  All these people probably don't know how good the stock market is doing without the POTUS tweeting about record highs...
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Not sure he wants to tweet about making the rich richer.  Which is what he's doing by pumping massive amount of cash into the system and inflating asset prices as a result.

 
tonydead said:
It's the perfect con. Keep the base happy with a sprinkle of stymie while wall street rakes it in.  :thumbup:
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By base, do you mean working class Americans who are finally getting back to work?  How ironic is it that we finally got the “businessman” President so many conservatives have longed for and yet he didn’t understand that the key to saving businesses and mitigating the damage was getting control of and effectively responding to COVID.  

 
tommyGunZ said:
By base, do you mean working class Americans who are finally getting back to work?  How ironic is it that we finally got the “businessman” President so many conservatives have longed for and yet he didn’t understand that the key to saving businesses and mitigating the damage was getting control of and effectively responding to COVID.  
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Nobody’s mentioned jobs but you. Those come back naturally, minus the tens of thousand killed by EO, when handed a vaccine. 

I don’t think Biden knows what day it is without being told, but, whomever is in power is taking care of wall street and that’s awesome. Not exactly what they ran on, but awesome. 
 

 
Been getting rich for a decade now (that Clinton run was pretty sweet too) but of course when Biden and Obama did it, it was luck, or the right people in power (but def not them - they are socialists or senile), printing money, inflation, or luck, on and on.  :lmao:

Good stuff.

 
The General said:
Been getting rich for a decade now (that Clinton run was pretty sweet too) but of course when Biden and Obama did it, it was luck, or the right people in power (but def not them - they are socialists or senile), printing money, inflation, or luck, on and on.  :lmao:

Good stuff.
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Did you actually just say printing trillions and trillions at a time has no effect on the market?  

:oldunsure:

:lmao:

 
The General said:
Been getting rich for a decade now (that Clinton run was pretty sweet too) but of course when Biden and Obama did it, it was luck, or the right people in power (but def not them - they are socialists or senile), printing money, inflation, or luck, on and on.  :lmao:

Good stuff.
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Funny thing to me is that for a great majority of people, this is a natural progression. Maybe not getting rich, but doing better today than you did 10 years ago. And 10 years ago doing better than you did while you were a 23 year old recent college graduate. It is comical to just say "I did so much better under Trump than Obama" (or pick any president to president change) without really looking at the surrounding factors. Like you got a promotion or a new job or whatever - things that had nothing to do with the president at the time.

 
gianmarco said:
Actually he didn't say that at all.  You literally made up a statement that is nowhere to be found in the post you quoted.

As for who is printing money, don't let facts get in the way since 20% of all money in circulation was printed in a 3 month period...in 2020!!  

Hint -- We had a different President during that time.
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I bolded it for you.  JFC.    :lmao:

And if you havent noticed, I'm all for printing money. Even when you give it to the poors, look at what it does to my bank account. Good job Trump, good job whomever is pulling the strings for Biden. 

 
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tonydead said:
Did you actually just say printing trillions and trillions at a time has no effect on the market?  

:oldunsure:

:lmao:
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That’s what’s been going on for some time. But when it occurs under Dem Prez well it’s  an issue. Who runs the Fed now  :coffee:

It’s as if it doesn’t really matter if a Dem, even the Socialist or the old guy, is running things and the Economy does just fine. 

 
tonydead said:
I bolded it for you.  JFC.    :lmao:

And if you havent noticed, I'm all for printing money. Even when you give it to the poors, look at what it does to my bank account. Good job Trump, good job whomever is pulling the strings for Biden. 
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Where does it say ANYTHING to the effect of "has no effect on the market"? 

Feel free to go back and bold that part. Or quote it.  I'll wait.

 
gianmarco said:
Where does it say ANYTHING to the effect of "has no effect on the market"? 

Feel free to go back and bold that part. Or quote it.  I'll wait.
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You have to infer that from what he said, he included items like "luck"  and "inflation" which obviously don't have an effect.  It's the whole crux of his post.  HTH

The General said:
That’s what’s been going on for some time. But when it occurs under Dem Prez well it’s  an issue. Who runs the Fed now  :coffee:

It’s as if it doesn’t really matter if a Dem, even the Socialist or the old guy, is running things and the Economy does just fine. 
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Who said it is an issue?  I love it!

I swear half of the people in this forum on any given day can't read English.  

 
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tonydead said:
You have to infer that from what he said, he included items like "luck"  and "inflation" which obviously don't have an effect.  It's the whole crux of his post.  HTH

Who said it is an issue?  I love it!

I swear half of the people in this forum on any given day can't read English.  
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Wrong. 

You figure out the Microsoft deal yet  :lol:

 
First of all, this is still the Trump economy.   
 

second of all, if Joe can raise taxes without damaging the current progress, then that would be a win for everybody.

 
Sam Quentin said:
First of all, this is still the Trump economy.   
 

second of all, if Joe can raise taxes without damaging the current progress, then that would be a win for everybody.
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The stock market just dropped like a rock over on the headline about a proposed capital gains increase. Wait until it actually passes. 

 
President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6%, which, coupled with an existing surtax on investment income, means that federal tax rates for investors could be as high as 43.4%, according to people familiar with the proposal.

The plan would boost the capital gains rate to 39.6% for those earning $1 million or more, an increase from the current base rate of 20%, the people said on the condition of anonymity because the plan is not yet public. A 3.8% tax on investment income that funds Obamacare would be kept in place, pushing the tax rate on returns on financial assets higher than the top rate on wage and salary income, they said.

Stocks slid on news about the plan, with the S&P 500 Index down as much as 0.6% after climbing 0.2% earlier. The Nasdaq Composite fell 0.4% as of 1:15 p.m. after rising as much as 0.5%. Ten-year Treasury yields erased gains.
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What a ####ing loser.

Que the government handout club to come in and try to defend this crap.

 
TwinTurbo said:
The stock market just dropped like a rock over on the headline about a proposed capital gains increase. Wait until it actually passes. 
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Talk about timing for my posting....43% is harsh and will do damage.....I also heard a rumor (probably not true) that crypto gains will get hit even harder maybe 80% CG tax....

 
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Sam Quentin said:
Talk about timing for my posting....43% is harsh and will do damage.....I also heard a rumor that crypto gains will get hit even harder maybe 80% CG tax....
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I'm not going to get into the politics over it, but this is going to tank the market especially if they try to make it retroactive. I think it will be DOA in the Senate and would never pass. This doesn't just soak the rich, anyone with any exposure to the stock market loses big time. It's just stupid stupid stupid.

 
And don't listen to the talking heads on TV, listen to what the markets are telling you. And right now, they just puked all over this plan, just a nasty reversal that immediately hurt every single investor in every single income group. 

 
TwinTurbo said:
I'm not going to get into the politics over it, but this is going to tank the market especially if they try to make it retroactive. I think it will be DOA in the Senate and would never pass. This doesn't just soak the rich, anyone with any exposure to the stock market loses big time. It's just stupid stupid stupid.
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Retroactive?  WTF?

 
TwinTurbo said:
Yes expect them to try for retroactive for the entire calendar year, not just from when it passes, if it passes. 
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Ah yes.

Already have a big enough check to write May 17th.

Tell Mitch I will buy a McConnell mask and fill in filibustering for him if he needs me to.

 
Sinn Fein said:
Really, if you're being honest, its still an extension of the Obama economy, that he rebuilt on the ashes of the Bush Recession.
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I think that's fair. That said, none of those guys tried to raise the capital gains tax to 43.4%. There's a modest increase and then there's just crazy. 

 
Sinn Fein said:
Really, if you're being honest, its still an extension of the Obama economy, that he rebuilt on the ashes of the Bush Recession.
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There is some truth to that.  I also think the tax cuts (even with the awful deficits) and regulation changes along with the cheerleading (psychology and confidence have real impacts on the economy) as well as keeping interest rate hikes in check (maybe inappropriately, but he was right) certainly helped. It helped push us from 2% ish growth to 4%ish....

The Tech revolution that really kicked into gear in the 80s and was nurtured by Reagan, Bush, Clinton, Bush, Obama was what kept us from collapsing due to COVID and is what I see as a primary driver going forward. 

 
tommyGunZ said:
Real estate is up because Jobs Joe is putting people back to work. You’re welcome.  
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Joe doesn’t even know where he is right now, best thing he can do is continue to stay out of the way.  🤣

 
tonydead said:
It's the perfect con. Keep the base happy with a sprinkle of stymie while wall street rakes it in.  :thumbup:
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Yep, so triggered they don’t see their money is worth nothing anymore. 

 
The good news is that Biden loves to negotiate with himself so it will be 20.45% by the time it hits the floor. 

 
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