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Dow closes above 30,000 for first time

Discussion in 'News & Current Events (Articles Required)' started by TLK Valentine, Nov 24, 2020.

  1. TLK Valentine

    TLK Valentine You will be who you will be. We are our choices.

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    Dow closes above 30,000 for first time in history on hopes of economic recovery under Biden

    IIRC, Donald said the market would collapse if he wasn't re-elected... now, once he informally concedes, it hits a record milestone... but that's probably a coincidence.

    Thoughts?
     
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  2. GoldenBoy89

    GoldenBoy89 We're Still Here

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    Thanks President-elect Biden!
     
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  3. Tinker Grey

    Tinker Grey Wanderer Supporter

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    Doesn't quite have the same ring as "thanks, Obama". Perhaps it'll grow on me.
     
  4. GoldenBoy89

    GoldenBoy89 We're Still Here

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    That’s a tough act to follow but maybe with our collective standards having lowered it won’t be long for it to take.
     
  5. Aryeh Jay

    Aryeh Jay Veteran Supporter

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    It is just more of the exponential growth of the market under the Leadership of our Businessman President after the stagnant and dreadful years under the oppressive and market killing Obama/Biden Regime.
     
  6. ThatRobGuy

    ThatRobGuy Part of the IT crowd Supporter

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    I think the good news of the vaccines' efficacy (and the fact that there are now 3 great contenders in the mix) would make the markets take an upward turn regardless of who would've won.

    Some presidents inherit bad times, some inherit good times.

    Whoever got elected this time around, is going to preside over a great market comeback once things get back to somewhat normal from where they are now.

    Going from Pandemic->Normal is an economic recovery that would be kinda hard to screw up short of someone accidentally forgetting to put the vaccines in the freezer.

    But it'll be the same political game that we've seen for every presidential party transition for the last 40 years...
    Losing team:
    "Everything good that happens once this other guy takes office is because of the framework our guy set up"
    "Everything bad that happens is the fault of the guy who just took office"

    Winning team:
    "Everything good that happens now is because of the wisdom and leadership of our guy"
    "Everything bad that happens is the last guy's fault"
     
  7. miamited

    miamited Ted Supporter

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    Hi all,

    I have to agree with @ThatRobGuy. It's very likely that all the talk about a vaccine being just around the corner is also causing a spike in the markets. However, whatever the reason, and they may be several, it's certainly good for those who are invested in the markets.

    God bless,
    ted
     
  8. FenderTL5

    FenderTL5 864511320 Supporter

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    agree, along with the prospect of a return to sanity in the executive branch
     
  9. Blade

    Blade Veteran Supporter

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    Hmm not sure who I am tying to. Right now the stock-market has been going up.. been that way for many months now.. under President Trump. So to see the effect under Joe Biden one would have to wait till he is in office and what he does. And its not even Jan 20th.

    What I wonder is in 2016 market was going up and why? OBAMA! Right now market going up and why? Biden. So the reason the market is where its at is what President Trump has been doing. Biden wants to undo allot of what president Trump did.. THEN watch the market. Thats what president Trump was talking about. Duh.. if we knew the Stock-market. They are in it JUST for money.

    Biden.. has a past and it has not even been talked about YET. That is coming. Biden with buy back guns or what happens? Harris 1st month if Congress does not do something she will sign executive order. How about China? Ohh I bet the people there would just LOVE us to help the Chinese gov and not them. Biden gotta help China grow! Open borders, healthcare, collage.

    Yeah I SO miss how it was for 8 years under Obama.. and look who Biden picks to help him. Did we forget when all those Dem's were running for President.. how the left media talked about Joe Biden? They didn't want him. And Harris? Got less then 2% no one want here. Now they have no choice. And the left.. if your democrat..its not going to get any better but worse.

    over 50 people shot where? How many died? Joe Biden said? NOTHING. L.A. hits 300 homicides for first time in a decade 25% increase. Like the song that comes to mind.. "your gonna miss me when I'm gone".
     
  10. MIDutch

    MIDutch Well-Known Member

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    My financial advisor, with whom I meet once or twice a year, says that the stock market likes stability. She also hinted that it's been a tumultuous 4 years because trump has been the antithesis of stability.

    My cousins in Amsterdam are a little more blunt. They just call him crazy. Hopefully, the market will reflect a return to normalcy.
     
  11. MIDutch

    MIDutch Well-Known Member

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  12. Kenny'sID

    Kenny'sID Well-Known Member Supporter

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    Thanks, president Trump, we knew you could do it.
     
  13. Akita Suggagaki

    Akita Suggagaki Well-Known Member

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    Yes, who knew the effects of his departure would be so rapid?
     
  14. Kenny'sID

    Kenny'sID Well-Known Member Supporter

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    No idea what that means, but I appreciate the effort..
     
  15. Bobber

    Bobber Well-Known Member

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    [QUOTE="Blade, post: 75541829, member: 5990"So the reason the market is where its at is what President Trump has been doing. Biden wants to undo allot of what president Trump did.. THEN watch the market. Thats what president Trump was talking about. Duh.. if we knew the Stock-market. They are in it JUST for money.
    [/QUOTE]

    Because of what Trump did the markets are super high. Why have they retained it's strength with a potential Biden win? Two reasons. Investors feel the Dems will be held back from doing crazy things because the Senate looks like it could still end up being in control of the Republicans. Also the announced vaccine distribution scheduled, markets shot up. You get the Dems take over the Senate though watch the markets tank and I mean quickly.
     
  16. MIDutch

    MIDutch Well-Known Member

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    The markets were merely continuing the trend that started in 2009.They would actually be higher if it weren't for trumps idiotic trade wars.

    Dow Jones - DJIA - 100 Year Historical Chart

    Click the "By President" tab. You might find that one interesting.
     
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  17. Akita Suggagaki

    Akita Suggagaki Well-Known Member

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    "Investors of all political persuasions say they are ready to turn the page on what was a profitable but extraordinarily politicized and stressful period for the financial markets, where they had to contend with an unpredictable force whose pronouncements frequently moved stock prices. For the most part, investors supported Trump administration policies; it was the president’s unpredictable tweeting they found hard to stomach.'

    Read more at:
    Donald Trump: After chaotic 4 years, Wall Street is itching to unfollow @realDonaldTrump - The Economic Times
     
  18. ThatRobGuy

    ThatRobGuy Part of the IT crowd Supporter

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    I don't like Trump, but it sounds like your financial advisor is projecting personal dislike of the president on a situation that has very little to do with him.

    As you said, "the stock market likes stability".

    Going from pandemic/shutdowns to "back to the way things were" represents a bigger move toward stability than "crazy guys tweeting weird things replaced by guy who doesn't"

    People need to be more pragmatic about the situation.

    Trump was terrible, but trying to find every reason in the book why every bad thing that's happened is exclusively his fault makes the progressive side of the fence lose credibility and seem petty.

    It's one step away from suggesting "Obesity in America is Trump's fault...he talked about how much he loved fast food, and that encouraged everyone else to eat fast food so diabetes is practically his fault!"

    Like him or dislike him, he got stuck with a problem that most presidents have never had to deal with in the form of a novel virus that caused a global pandemic that upended the one and only aspect where he actually could claim a few successes (that being the economy).

    Nobody knows how anyone else would've acted in attempts to salvage their strong points in that situation.
     
  19. Kenny'sID

    Kenny'sID Well-Known Member Supporter

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    I'm not a tweeter, but his tweeting didn't bother me at all.
     
  20. Bobber

    Bobber Well-Known Member

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    Absolutely no way. Look at THE GREAT SPIKE of Oct/Nov 16. One can see it clearly on your own chart. That was the TRUMP effect!
     
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