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The Stock Market-Economy under Joe Biden!


Summer Wheat

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4 minutes ago, Juxtatarot said:

If the Democrats win the Senate too I expect a bounce from the expectation of a large stimulus bill being passed.  

JPMorgan and others believe a Democratic sweep is largely priced in to the current market...

Markets are increasingly pricing in a Joe Biden victory and fresh stimulus, leaving room for a sudden slump should election results miss expectations.

https://markets.businessinsider.com/news/stocks/markets-outlook-biden-election-victory-democratic-senate-fiscal-stimulus-jpmorgan-2020-10-1029694606#

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42 minutes ago, Summer Wheat said:

Since Trump is pretty much a lame duck right now and in less than a week we will have a new POTUS.  I guess we can start this thread and see where Joe takes the stock market in the future. Hopefully up, up and away!

If the market didn't drop today, would you still have created this thread and called Trump a lame duck?

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  • Summer Wheat changed the title to The Stock Market-Economy under Joe Biden!

Markets been a roller coaster ride the last week.  Big ups and downs.  Had a big dead cat bounce inauguration day but that has settled down

Joe campaigned on that he will create 5 million new jobs and we need that.  I for one hope he creates that many and more.  If the vaccines are working and the market stays a little over 30,000 in Joe`s first few months we should be in good shape heading into the summer.

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1 hour ago, Summer Wheat said:

Markets been a roller coaster ride the last week.  Big ups and downs.  Had a big dead cat bounce inauguration day but that has settled down

Joe campaigned on that he will create 5 million new jobs and we need that.  I for one hope he creates that many and more.  If the vaccines are working and the market stays a little over 30,000 in Joe`s first few months we should be in good shape heading into the summer.

killed tens of thousands of jobs with EO's

vast Govt spending will eventually get us - maybe not in 4 years or 8 years but we can't have 100 trillion or 500 trillion in debt - at some point that's going to burst

 

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Unfortunately liberals have a big conundrum re: cheering the stock market under Biden.

....the more financial assets rise as a result of stimulus/Fed money printing....the more it exacerbates the widening wealth gap.

How you gonna solve that one?

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2 minutes ago, Stoneworker said:

Unfortunately liberals have a big conundrum re: cheering the stock market under Biden.

....the more financial assets rise as a result of stimulus/Fed money printing....the more it exacerbates the widening wealth gap.

How you gonna solve that one?

The stock market <> "the economy".  Simple as that, AND consistent with what liberals preached all throughout the Trump years and even before.

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1 minute ago, Rich Conway said:

The stock market <> "the economy".  Simple as that, AND consistent with what liberals preached all throughout the Trump years and even before.

Money from stimulus/money printing/QE has disproportionately increased financial asset prices vs. wages over the past 10+ years. That is a fact.

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19 minutes ago, Gr00vus said:

I'm here for panic and recriminations!

No panic yet but it is getting a little too volatile right now.  Wish Biden had not gone hog wild with all the EOs right off the bat.  Let the vaccines get rolling and get the economy coming back running and then in 6-8 months ease in the EOs. I mean he has 4 years.     The pipeline order could have waited a few months for starters.  That sent people in the states impacted into a frenzy and ruffled our Canadian friends feathers a bit.  I know the pipeline did not impact gas prices but since Biden has been POTUS gas is up 50 cents a gallon around Michigan.  That is a sharp increase in only 9 days.

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6 minutes ago, Da Guru said:

No panic yet but it is getting a little too volatile right now.  Wish Biden had not gone hog wild with all the EOs right off the bat.  Let the vaccines get rolling and get the economy coming back running and then in 6-8 months ease in the EOs. I mean he has 4 years.     The pipeline order could have waited a few months for starters.  That sent people in the states impacted into a frenzy and ruffled our Canadian friends feathers a bit.  I know the pipeline did not impact gas prices but since Biden has been POTUS gas is up 50 cents a gallon around Michigan.  That is a sharp increase in only 9 days.

Good points. I was just joking around. I'm not a short term/quick turnaround trader, I'm one of those folks who doesn't think giving the President a ton of credit for stock market moves (either way) is merited when taking a long view. Every now and then a policy, a budget decision, has some impact, but overall these things tend to get drowned out over the long haul by other events. I was happy with my accounts under Obama, I was happy with my accounts under Trump, I think long term I'll be happy with my accounts under Biden barring some catastrophic event.

Anecdotally, on the fuel topic, I haven't visited a gas station in months, due to the covid restrictions, working from home, etc. I really have no idea how prices have moved since they had a pretty big drop last year.

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25 minutes ago, Stoneworker said:

Unfortunately liberals have a big conundrum re: cheering the stock market under Biden.

....the more financial assets rise as a result of stimulus/Fed money printing....the more it exacerbates the widening wealth gap.

How you gonna solve that one?

Which liberals' are cheering the stock market under Biden?

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2 minutes ago, JAA said:

Which liberals' are cheering the stock market under Biden?

Yeah. Not gonna take the bait.

My post factually pointed out that the policy actions that are ostensibly directed towards jobs/economic growth...also have had the unintended consequences of fueling a decades-long financial asset bubble that is at cross-purposes with the liberal agenda item of reducing wealth inequality.

That is a legitimate conundrum.

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4 minutes ago, Stoneworker said:
11 minutes ago, JAA said:

Which liberals' are cheering the stock market under Biden?

Yeah. Not gonna take the bait.

My post factually pointed out that the policy actions that are ostensibly directed towards jobs/economic growth...also have had the unintended consequences of fueling a decades-long financial asset bubble that is at cross-purposes with the liberal agenda item of reducing wealth inequality.

That is a legitimate conundrum.

Well - I think its a fair question.  I think its fair because DJT constantly discussed the stock market.  I personally have not heard anyone from the Biden administration mention the stock market.  I'm ready to be wrong.

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2 minutes ago, JAA said:

Well - I think its a fair question.  I think its fair because DJT constantly discussed the stock market.  I personally have not heard anyone from the Biden administration mention the stock market.  I'm ready to be wrong.

The thread title seems to be about the general topic of the stock market and economy under Biden. Not sure what Trump has to do with any of that.

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2 minutes ago, Stoneworker said:
6 minutes ago, JAA said:

Well - I think its a fair question.  I think its fair because DJT constantly discussed the stock market.  I personally have not heard anyone from the Biden administration mention the stock market.  I'm ready to be wrong.

The thread title seems to be about the general topic of the stock market and economy under Biden. Not sure what Trump has to do with any of that.

Quote

Unfortunately liberals have a big conundrum re: cheering the stock market under Biden.

....the more financial assets rise as a result of stimulus/Fed money printing....the more it exacerbates the widening wealth gap.

How you gonna solve that one?

If your own words dont explain my response, I guess im out :shrug:

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8 minutes ago, Stoneworker said:

Yeah. Not gonna take the bait.

My post factually pointed out that the policy actions that are ostensibly directed towards jobs/economic growth...also have had the unintended consequences of fueling a decades-long financial asset bubble that is at cross-purposes with the liberal agenda item of reducing wealth inequality.

That is a legitimate conundrum.

The primary means by which progressives like Warren and Sanders want to reduce inequality is through taxation. Unfortunately it’ll be tough to pass much through the current Congress.  And it seems likely a wealth tax would get struck down by the Supreme Court anyway.  So I agree it’s a problem but not one that should prevent stimulus.

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3 minutes ago, fatguyinalittlecoat said:

The primary means by which progressives like Warren and Sanders want to reduce inequality is through taxation. Unfortunately it’ll be tough to pass much through the current Congress.  And it seems likely a wealth tax would get struck down by the Supreme Court anyway.  So I agree it’s a problem but not one that should prevent stimulus.

Yes. Taxation and a transfer of wealth would work (in theory). Unfortunately that would hammer economic growth and the stock market would crash, launching us into a recession. Biden knows this...and so he ultimately won't raise taxes even though it's good political talking points.

My apologies if I struck a nerve by using the word "liberals" when bringing up the wealth gap. I'm all for reducing it.

The main point is showing how many of these current policies are short-sighted, at cross-purposes to other agenda items, and exacerbating long-term/structural issues elsewhere.

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16 minutes ago, fatguyinalittlecoat said:

The primary means by which progressives like Warren and Sanders want to reduce inequality is through taxation. 

Much of the root cause is ZIRP.  It has been for quite a while.  Control deficits, raise interest rates, and allow the regular person to get some interest on their savings.

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2 minutes ago, Stoneworker said:

The main point is showing how many of these current policies are short-sighted, at cross-purposes to other agenda items, and exacerbating long-term/structural issues elsewhere.

Right, well I think that's the tradeoff.  Sometimes fixing one issue creates problems elsewhere.  We have to help people now, even if that makes income inequality worse in the short term.  

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6 minutes ago, fatguyinalittlecoat said:

Right, well I think that's the tradeoff.  Sometimes fixing one issue creates problems elsewhere.  We have to help people now, even if that makes income inequality worse in the short term.  

Yep. Inefficiently address today's crisis by sowing the seeds of an even bigger crisis tomorrow. It's what our government does best.

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23 minutes ago, Alex P Keaton said:

Just trying to get on board with the stock market hypocrisy!

Your desperation isn’t a good look. I hope Biden continues to be unable to enact his terrible policies and the market continues to go up. I’m all for it. 
 

Great trolling though. 😂

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22 hours ago, The General said:

ALL ABOARD....Stock market that is....Stock market enjoying cups of Joe left and right!

I am and always have been onboard with anything that helps the economy and all of us investors.   Before it seemed like many here were hoping for bad news.  I am hoping we are at 40,000 plus in 4 years.

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4 minutes ago, Summer Wheat said:

I am and always have been onboard with anything that helps the economy and all of us investors.   Before it seemed like many here were hoping for bad news.  I am hoping we are at 40,000 plus in 4 years.

I don't think anyone in the market is ever hoping for bad.

I thought Trump in many was the worst President we have had in my lifetime by lightyears but I wanted the stock market to go up. 

Stock market pretty much kept doing its thing while Don was in there so glad to see he didn't ruin things.

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4 hours ago, GoBirds said:

Your desperation isn’t a good look. I hope Biden continues to be unable to enact his terrible policies and the market continues to go up. I’m all for it. 
 

Great trolling though. 😂

Hahahahaha.   Ok.  I’m just trying to follow the stock market discussion rules.

Unlike most people, I rooted for the market to go up under Trump and will continue to do the same with Biden.  If you are in the same boat, that would seemingly make us the only 2 people on this board with that stance.

No idea why you call this trolling.

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19 minutes ago, Alex P Keaton said:

Hahahahaha.   Ok.  I’m just trying to follow the stock market discussion rules.

Unlike most people, I rooted for the market to go up under Trump and will continue to do the same with Biden.  If you are in the same boat, that would seemingly make us the only 2 people on this board with that stance.

No idea why you call this trolling.

Not sure how that is unlike most people. This assertion that so many wished for bad things was always awful.

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16 minutes ago, sho nuff said:

Not sure how that is unlike most people. This assertion that so many wished for bad things was always awful.

I hoped democracy was still intact on the other side. It's still a work in progress. I couldn't care less about the market and am a little convinced its success is due to significant quantitative easing that's propping it up. I don't know enough about it, but I know enough that a lot of businesses wouldn't be solvent but for the easing.

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9 hours ago, Alex P Keaton said:

Hahahahaha.   Ok.  I’m just trying to follow the stock market discussion rules.

Unlike most people, I rooted for the market to go up under Trump and will continue to do the same with Biden.  If you are in the same boat, that would seemingly make us the only 2 people on this board with that stance.

No idea why you call this trolling.

It’s just pretty funny you are attempting to spike the football a couple weeks in over small gains while all he has done is print stimulus money. If that’s all he does the market should do pretty well. If he actually gets his tax increases or other bad ideas through that may be more interesting to watch. The good news is Joe isn’t used to getting much done in DC so hopefully this continues on the same track. I definitely hope the market continues to do well. 

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2 hours ago, GoBirds said:

It’s just pretty funny you are attempting to spike the football a couple weeks in over small gains while all he has done is print stimulus money. If that’s all he does the market should do pretty well. If he actually gets his tax increases or other bad ideas through that may be more interesting to watch. The good news is Joe isn’t used to getting much done in DC so hopefully this continues on the same track. I definitely hope the market continues to do well. 

I hope the govt gets almost nothing done except for vaccinating people.  Gridlock is good in DC.

It was weird that you spiked the football before he ever took office.  But hey, if that is how it works, I’ll join the craziness.

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10 hours ago, rockaction said:

I hoped democracy was still intact on the other side. It's still a work in progress. I couldn't care less about the market and am a little convinced its success is due to significant quantitative easing that's propping it up. I don't know enough about it, but I know enough that a lot of businesses wouldn't be solvent but for the easing.

Of course the market success is due to QE.  The fundamentals are totally out of whack.  Nothing sustainable about this.  Hopefully the bubble deflated slowly.

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17 minutes ago, Alex P Keaton said:

I hope the govt gets almost nothing done except for vaccinating people.  Gridlock is good in DC.

It was weird that you spiked the football before he ever took office.  But hey, if that is how it works, I’ll join the craziness.

Hey, whatever makes you feel better. :lmao:

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2 hours ago, GoBirds said:

I definitely hope the market continues to do well. 

Despite the fact that I disagree with you most of the time, this is the sort of sentiment that separates you from the haters on both sides IMO. During the Trump years I repeatedly cheered when the economy did better. I’ll never understand when people root for bad things to happen. 

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2 hours ago, GoBirds said:

It’s just pretty funny you are attempting to spike the football a couple weeks in over small gains while all he has done is print stimulus money. If that’s all he does the market should do pretty well. If he actually gets his tax increases or other bad ideas through that may be more interesting to watch. The good news is Joe isn’t used to getting much done in DC so hopefully this continues on the same track. I definitely hope the market continues to do well. 

Can we acknowledge a large part of what Don did was put money on the CC to keep the markets pumped up? Yet the stock market under Trump thread was a big maga party :lol:

The market and economy health seem to be widely unattached more and more these days. A huge reckoning will come at some point, followed by it going up again.

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39 minutes ago, timschochet said:

Despite the fact that I disagree with you most of the time, this is the sort of sentiment that separates you from the haters on both sides IMO. During the Trump years I repeatedly cheered when the economy did better. I’ll never understand when people root for bad things to happen. 

That always blew me away.  When market dropped during Trump era there were people here who were actually happy.   It impacts everyone. For some reason they thought it was punishing Trump.

 

I wanted the market and economy to be good under Trump, and I hope it is good under Biden.

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49 minutes ago, The General said:

Can we acknowledge a large part of what Don did was put money on the CC to keep the markets pumped up? Yet the stock market under Trump thread was a big maga party :lol:

The market and economy health seem to be widely unattached more and more these days. A huge reckoning will come at some point, followed by it going up again.

Man, you’ve got to find a way to get Trump out of your head. Not healthy. 

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11 minutes ago, GoBirds said:

Man, you’ve got to find a way to get Trump out of your head. Not healthy. 

Trump is gone, bounced off Twitter, haven’t heard a peep from him in weeks. It’s been glorious. 

Anyways, the stock market is less and less attached to the economy every year it seems. People have to put their money somewhere why not drop it in that casino. When it’s getting 70% gains during an economic crisis obviously it’s its own thing at this point.

If there was an Obama stock market thread I’m sure it was filled with haters crying about QE. Meanwhile the markets crushed it, the sides flipped during Trump’s run, markets did well, and now they flip back during Biden’s start.

Who cares?

Just find it funny watching this.

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It’s a delicate dance getting money into these ridiculously valued SPAC’s and flavor of the month trades while having cash aside for the impending sell off that will occur at some point.

But no one should be complaining about the last decade. Been a glorious run.

One downside is it has helped to blow up that gap of the have and have nots. These numbers of people having absolutely zero in savings or much less retirement are staggering. There will definitely be a reckoning in that regard. 

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4 hours ago, The General said:

Trump is gone, bounced off Twitter, haven’t heard a peep from him in weeks. It’s been glorious. 

Anyways, the stock market is less and less attached to the economy every year it seems. People have to put their money somewhere why not drop it in that casino. When it’s getting 70% gains during an economic crisis obviously it’s its own thing at this point.

If there was an Obama stock market thread I’m sure it was filled with haters crying about QE. Meanwhile the markets crushed it, the sides flipped during Trump’s run, markets did well, and now they flip back during Biden’s start.

Who cares?

Just find it funny watching this.

I actually think Obama did what he had to with QE.  But things like that and all the stimulus is why the markets are divorced from the Main Street economy.  

I do think that there’s a moderate to high risk of an asset bubble in the near future. We have practically 0% return on risk free cash right now at banks. I invest in residential real estate, pricing has moved to where the returns you would need to invest just 18 months or so ago have reduced by 2-2.5% everywhere I look. All the while we are pumping stimulus into an economy wounded by Covid. My guess is at some point that has to normalize and when the sugar high from the stimulus runs out we are going to see an adjustment in asset values. I don’t know when so I’m not necessarily selling assets, but I’m leery of buying in this environment.   

There of course is another possibility that makes all that wrong. That alternative is we keep the printing presses rolling which will in turn cause even greater separation along the lines you mentioned.  While that would prop up asset values it would cause inflation and those least invested in the market to offset that effect would be hurt the worst.

 

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13 minutes ago, Shula-holic said:

I actually think Obama did what he had to with QE.  But things like that and all the stimulus is why the markets are divorced from the Main Street economy.  

I do think that there’s a moderate to high risk of an asset bubble in the near future. We have practically 0% return on risk free cash right now at banks. I invest in residential real estate, pricing has moved to where the returns you would need to invest just 18 months or so ago have reduced by 2-2.5% everywhere I look. All the while we are pumping stimulus into an economy wounded by Covid. My guess is at some point that has to normalize and when the sugar high from the stimulus runs out we are going to see an adjustment in asset values. I don’t know when so I’m not necessarily selling assets, but I’m leery of buying in this environment.   

There of course is another possibility that makes all that wrong. That alternative is we keep the printing presses rolling which will in turn cause even greater separation along the lines you mentioned.  While that would prop up asset values it would cause inflation and those least invested in the market to offset that effect would be hurt the worst.

 

Agree with all this.

Turning off the spigot is going to be precarious. Hopefully the right people are in place to do this.

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