When President Obama took office on January 20, 2009 the market was at ... 7,949.09

[Snake Plissken]

When President Obama took office on January 20, 2009 the market was at ... 7,949.09

On President Obama's last day in office the market closed at ... 19,732.40

We are currently at ... 23,851.02

[progree]

1. On January 26, 2018, the Dow closed at 26,616.71 ...

On January 26, 2018, the Dow closed at 26,616.71

We are currently (March 9, 2020 close) at ... 23,851.02

So we've spent the last 2+ f'ing years going down by 10.4%

IOW, the Dow did great in the approximately first year of the reign of Trump, going from 19,732.40 to 26,616.71 (+34.9%), a carryover of momentum from Obama.

After that, 10.4% down.

Thanks for fucking it up, Trump.

https://finance.yahoo.com/quote/%5EDJI/history?p=%5EDJI

[Laura PourMeADrink]

6. Tax cut for rich?

[progree]

8. Sure, I'll take one, but I'm not rich anymore (LOL) nt

[Laura PourMeADrink]

9. Lol! Meant Trump's tax cut (which he didn't write and any

body with an R in front of their name could have gotten through) was introduced in November of 2017.

[progree]

12. I knew what you meant, but I couldn't resist. And the timing is interesting too:

The tax cut took effect January 2018. A local peak of the Dow and S&P 500 occurred in January 2018, and now we're down 10.4% from that point. So not much of a record for trickle down tax cuts. And it's had 2 years to work its "magic". A minus 4% GDP next?

[hot2na]

14. The worst part is...

...Trump felt a need to stimulate the economy when the economy was doing good. He gave a tax break of $1.5 Trillion mostly to the top 1%. We don't need to stimulate a good economy such as the one that Obama handed to Trump. We need to stimulate the economy when it crashes like when Bush crashed it in 2008.

You may recall when Obama took office he met fierce resistance to a much needed stimulus for the economy which was in free fall. The Republicans resisted; remember "Let Detroit go bankrupt" and all that nonsense. Miraculously Obama (and Joe), got the Republicans to agree to a measly $700 Billion stimulus, in which 50% were tax cuts.

Let us never forget that when the Trump recession hits (It may already be here), that is when we need the stimulus but Trump blew it and we have nothing left to stimulate the economy when we are really going to need it. Even the fed dropped the lending rate under pressure by Trump; we do not have that going forward.

The Trump booming economy is the biggest hoax perpetrated on the American people in history.

[lastlib]

16. Thanks to tRump, my good friend is a millionaire!

(he USED TO be a MULTI-millionaire!)

[oldsoftie]

4. "buying opportunity"

[Laura PourMeADrink]

10. Yes, the Trump's think every person has a liquid pile

of cash to reinvest.

[brewens]

21. We're in "never try and catch a falling knife" territory. n/t

[progree]

3. S&P 500 down 18.9% from all-time high (Bear market starts at -20.0%)

3386 <- S&P 500 All Time High (Feb. 19)

2747 <- S&P 500 Monday March 9 close
-18.9%

2709 <-Where S&P 500 bear market begins (down 20% from all time high)

So a drop of only 38 points (another 1.38% down from Monday's close) will end the longest bull market in history -- the one that began in March 2009 (about 1 1/2 months after Obama took office, BTW).

That's one heck of a job, Trumpie

[Captain Zero]

19. Trump just put 401ks on the Clearance Rack.

With a little help from his friends, Capitalism and Wall Street.

[Demovictory9]

7. k&r

[Laura PourMeADrink]

11. Dow implied open +1000

[progree]

13. Two steps down ( -2000 on Monday) and one step up (+1000 maybe). Rinse and repeat. nt

[Laura PourMeADrink]

18. Yup glad I moved my IRA $ to bonds a long time ago. I knew it

might be less profitable but just did not want to freak out every time trump did something stupid and created volatility. Luckily my guy who handles hated trump too so didn't talk me out if it.

[IronLionZion]

15. Ooh, ooh, I know what will fix this!

Tax cuts for the rich to trickle down to the rest of us! And then cut funding for social programs and any kind of public health or research work since sacrifices must be made during this crisis.



November can't get here soon enough. Looking forward to Biden fixing this mess. They should ask Liz Warren, she probably has a plan for this.

[lastlib]

17. Hey, you're on to something! That's BOUND to work--

for somebody. Not US.

[debsy]

20. Someone, somewhere is making money off this...

I haven't researched enough yet to know who is benefitting from this but I would bet my life that Vlad and MBS are involved somehow. As for the coronavirus, notice how the MSM aren't talking about anything but that? What is going on aside from this diversion?