Donald Trump blames stock market plunge on 'so much good news', calls it a 'big mistake'
33 replies, posted
[quote]US President Donald Trump has appeared to blame a combination of modernity and too much good economic news for the global stock market plunge.
"Big mistake, and we have so much good (great) news about the economy!" he wrote. The President has regularly and loudly taken credit for the stock market's prolonged surge since he took office. [/quote]
[url]http://www.abc.net.au/news/2018-02-08/donald-trump-breaks-silence-on-stock-market-decline/9407218[/url]
I just do not understand anymore.
How the fuck would that even work lol
The markets are rigged, folks!
Aaaggghhh make it stop, I am so tired of having to be made aware of this senile pissbaby moron's incoherent rambling.
It's literally like clockwork, something good happens and he claims responsibilty, something bad happens and he handwaves it with some retarded 4th grade excuse. You could replace his twitter account with a bot that makes automated chat bot responses to world events and you probably wouldn't be able to tell the difference.
[QUOTE=Nukedrabbit95;53115612]You could replace his twitter account with a bot that makes automated chat bot responses to world events and you probably wouldn't be able to tell the difference.[/QUOTE]
His tweets are frequently so incomprehensible to begin with that a bot would actually probably make no less sense too which is kinda impressive considering how incomprehensible they tend to be.
Trump proving time and time again he has no idea what he's talking about, and people will eat it up regardless. Gonna be a fun year if this is how he is gonna react to a stock market plunge.
Fake and failing Stock Market must stop disrespecting our Great Economy & embrace what "Trump" stands for. Bad ratings!
I honestly do not understand what he is trying to say. It really sounds like he is blaming the stock market itself for how it supposedly reacted to 'good news'.
my investments are doing just fine. the minute he got elected I went from watching it stagnate for 8 years to watching it skyrocket. I've made 24% back on my investments in just a year since he got elected and that dip barely put a dent in my profits. the dip is majorly overblown and the market is still doing better than it ever did under Obama.
I don't see why everyone's freaking out - the economy is doing better than ever.
[img]https://i.imgur.com/5gtldDh.png[/img]
[QUOTE=Seth2492;53115843]I don't see why everyone's freaking out - the economy is doing better than ever.
[img]https://i.imgur.com/5gtldDh.png[/img][/QUOTE]
[img]https://imgkk.com/i/hkr7.png[/img]
choosing 5 day is a bit dishonest, don't you think?
[editline]7th February 2018[/editline]
looks even better if you pick max
[QUOTE=butre;53115865][img]https://imgkk.com/i/hkr7.png[/img]
choosing 5 day is a bit dishonest, don't you think?
[editline]7th February 2018[/editline]
looks even better if you pick max[/QUOTE]
Thanks for showing a graph that calls out what you said as utter shit.
That graph shows the economy slowly rising over 8 years, not utter stagnation until Trump saved us all. Not to mention, there is no big economy button Trump nailed when he walked in that brought the economy back up, it's the result of factors from the 8 years prior.
-nevermind he wasn't joking-
[QUOTE=JeSuisIkea;53115984]Thanks for showing a graph that calls out what you said as utter shit.
That graph shows the economy slowly rising over 8 years, not utter stagnation until Trump saved us all. Not to mention, there is no big economy button Trump nailed when he walked in that brought the economy back up, it's the result of factors from the 8 years prior.[/QUOTE]
don't know what you're looking at but I'm seeing an improvement of maybe 4000 points until trump took office at which point it goes up by 8000 in a year
I meant comparatively stagnant. I wouldn't have kept investing if it was totally stagnant.
[QUOTE=butre;53115997]don't know what you're looking at but I'm seeing an improvement of maybe 4000 points until trump took office at which point it goes up by 8000 in a year
I meant comparatively stagnant. I wouldn't have kept investing if it was totally stagnant.[/QUOTE]
Gee, its almost like it took some time to recover from one of the worst economic crises in the nation's history. Maybe markets also tend to get confident when a man who wants to line pockets and rip up dodd frank gets in office, but what do I know.
doesn't the economy tend to do better when you don't give a shit about the environment and butcher regulation after regulation?
[QUOTE=Action Frank;53116028]Gee, its almost like it took some time to recover from one of the worst economic crises in the nation's history. Maybe markets also tend to get confident when a man who wants to line pockets and rip up dodd frank gets in office, but what do I know.[/QUOTE]
the stock market is entirely reactionary, and recovered from the 2008 decline years ago.
there were concerns with how rapidly the market was going up, people started selling, people saw the little decline and panic sold, and that snowballed from there until buyers started noticing the dip and did damage control by scooping up everything they could afford. if that don't paint a picture about how the stock market works then nothing will
[editline]8th February 2018[/editline]
there's a reason pump and dump is such an effective strategy
[QUOTE=Seth2492;53115843]I don't see why everyone's freaking out - the economy is doing better than ever.
[img]https://i.imgur.com/5gtldDh.png[/img][/QUOTE]
get your commie alphabet outta here
I highly recommend Dirty Money to anyone on here, basically sums up why American politics are so fucked, this being the center point.
[editline]7th February 2018[/editline]
It only went up because Trump is good for scummy business. It is not sustainable.
[QUOTE=butre;53115776]my investments are doing just fine. the minute he got elected I went from watching it stagnate for 8 years to watching it skyrocket. I've made 24% back on my investments in just a year since he got elected and that dip barely put a dent in my profits. the dip is majorly overblown and the market is still doing better than it ever did under Obama.[/QUOTE]
watch out for that bubble
[QUOTE=elowin;53116411]watch out for that bubble[/QUOTE]
The stock market ain't a bubble man. If you're investing you should be thinking on a timeline of decades. Recessions aren't a big deal in the long run.
And Trump is *technically* right, at least as far as the "too much good news" part goes. The correction in the stock market was caused by huge wage and job growth in January. This made people anticipate a rise in interest rates, which in turn implies an increase in bond yield. So investors are shifting money out of stocks and into bonds.
The market as a whole is fine, even if the stock market corrected very slightly after a nearly unprecedented bull run since the election.
[QUOTE=butre;53116139]the stock market is entirely reactionary, and recovered from the 2008 decline years ago.
there were concerns with how rapidly the market was going up, people started selling, people saw the little decline and panic sold, and that snowballed from there until buyers started noticing the dip and did damage control by scooping up everything they could afford. if that don't paint a picture about how the stock market works then nothing will
[editline]8th February 2018[/editline]
there's a reason pump and dump is such an effective strategy[/QUOTE]
Oddly enough, that was what I was thinking about doing the past few days. I lost a bit of money (unrealized gains so I guess I didn't really lose anything) But since the market was down by quite a bit, I was thinking about picking up a few more shares of my top performers for cheap (or cheaper at least). But I guess that window is currently shrinking, may as well buy what you can while you can.
[QUOTE=elowin;53116411]watch out for that bubble[/QUOTE]
there arent bubbles in the stock market. it just generally rises, and has since it's inception. the only difference between now and 20 years ago is that its rising faster and hasn't had a good crash in a decade
[QUOTE=butre;53116818]there arent bubbles in the stock market. it just generally rises, and has since it's inception. the only difference between now and 20 years ago is that its rising faster and hasn't had a good crash in a decade[/QUOTE]
I wonder why the economy was recovering
[IMG]https://voxeu.org/sites/default/files/image/FromApr2012/ilzetzki%20fig1%2019%20oct.png[/IMG]
Makes you think
Thankfully, trump has a plan to nip this recession in the bud
[media]https://twitter.com/realDonaldTrump/status/961253168968622086[/media]
His master plan of blaming the stock market for crashing will surely work well
[QUOTE=Dave_Parker;53116882]The economy is not in a recession. The strict definition of recession is two consecutive quarters with negative economic growth, which is not the case AT ALL.
If you're looking for actual reasons why the 2008 crash recovered aside from "Obama sat down in the Oval Office and everything was OK" (image sourced from Vox lol), this Time article is a good summary: [url]http://time.com/money/4176949/who-really-dug-us-out-of-the-great-recession/[/url][/QUOTE]
My "Recession" comment wasn't because I legitimately believe that we necessarily have one coming, it was because the post I was replying to seemed to be implying that it would not be unusual if one were to happen at this point.
The source of the image [I]literally doesn't matter[/I], since it isn't a wow graph with fucked up axis, it doesn't matter even a tiny bit that it came from Vox.
[QUOTE=Dave_Parker;53116882]The economy is not in a recession. The strict definition of recession is two consecutive quarters with negative economic growth, which is not the case AT ALL.
If you're looking for actual reasons why the 2008 crash recovered aside from "Obama sat down in the Oval Office and everything was OK" (image sourced from Vox lol), this Time article is a good summary: [url]http://time.com/money/4176949/who-really-dug-us-out-of-the-great-recession/[/url][/QUOTE]
more than likely we will see something more akin to the 1987 "crash" a drop without any real impact caused by the very same policies that regan used to overstimulate the economy, provided the selloff keeps up of course.
[QUOTE=butre;53115776]my investments are doing just fine. the minute he got elected [B]I went from watching it stagnate for 8 years[/B] to watching it skyrocket. I've made 24% back on my investments in just a year since he got elected and that dip barely put a dent in my profits. the dip is majorly overblown and the market is still doing better than it ever did under Obama.[/QUOTE]
Hold up
you spent eight years with money in the market that went nowhere and you did nothing about it?
[QUOTE=Harbie;53116429]The stock market ain't a bubble man. If you're investing you should be thinking on a timeline of decades. Recessions aren't a big deal in the long run.
And Trump is *technically* right, at least as far as the "too much good news" part goes. The correction in the stock market was caused by huge wage and job growth in January. This made people anticipate a rise in interest rates, which in turn implies an increase in bond yield. So investors are shifting money out of stocks and into bonds.
The market as a whole is fine, even if the stock market corrected very slightly after a nearly unprecedented bull run since the election.[/QUOTE]
Since the recession of 2008/09 ended, the economy has grown quite quickly and the stock market has done quite well, you are correct about that.
However, the recession that american citizens felt never really ended in many ways as take home for the average person post 2008/09 recession didn't recover or grow and that's an important reality to remember.
The stock market, and the economic game that is driving it is not a lie, it's a reality. It is however, a very dangerous reality that we engage in far too frequently and give far too much importance to. I don't know if you do revere the stock market, but you and butre certainly do seem to revere the stock market. It is a largely beneficial thing to us after all, but it is also creating a huge amount of problems and the overfocus on the importance of it is also creating problems.
[QUOTE=Banned?;53118419]Hold up
you spent eight years with money in the market that went nowhere and you did nothing about it?[/QUOTE]
Fun fact, had Butre played the Dow method, the most basic of investing strats, he would have seen something close to a 55.2% return over the course of that 8 years, considering the average yearly return is 6.9% for playing the Dow. Of course that doesn't account for the fact that you'd be seeing a compound effect on your returns so long as you didn't cash out that ~6.9% but that's largely irrelevant to my point (100 would become ~106.9, would become ~114.27, etc..). Sitting on something that stagnated/lost for 8 years just to get 24% in a year is fucking laughable.
Also 24% isn't a sustainable growth rate anyway and can be attributed to largely just getting lucky on a stock pick for a year. Long term growth over a diversified portfolio is a far more valid metric of economic and investment success. You could see 24% increase in a stock one year and Q1 of next year they'll drop 300% and declare bankruptcy, do you blame the president/economy for that or your bad investing skills since you dropped 300% value in a year?
More to the point if we wanted to play the personal story game, my stocks have been sorta decently insulated from the dip and I actually gained about 5% across my portfolio this last week, but over-all I'd still be down about 16% if I hadn't been so cautious and waiting on my 2018 portfolio redistribution and just carried over with the same distribution from 2017. Saying everything is okay just because you're personally doing fine with your investments is "The water in my toilet is cold thus there is no global warming!" argument tier really. Anyone who invested significantly in solar right now is feeling a huge burn. Trump's presidency scared solar stocks and I personally lost about $200 on stocks that under Obama had made me a very nice return. It's really not as simple as "economy is good for my specific portfolio/economy dip is really bad for everyone equally." It's literally 100% bad, but it's not hitting everyone equally because not every portfolio or stock is created equal.
[QUOTE=HumanAbyss;53118433]Since the recession of 2008/09 ended, the economy has grown quite quickly and the stock market has done quite well, you are correct about that.
However, the recession that american citizens felt never really ended in many ways as take home for the average person post 2008/09 recession didn't recover or grow and that's an important reality to remember.
The stock market, and the economic game that is driving it is not a lie, it's a reality. It is however, a very dangerous reality that we engage in far too frequently and give far too much importance to. I don't know if you do revere the stock market, but you and butre certainly do seem to revere the stock market. It is a largely beneficial thing to us after all, but it is also creating a huge amount of problems and the overfocus on the importance of it is also creating problems.[/QUOTE]
I'm not arguing that the stock market is the end-all be-all solution to economic issues in America. I realize a lot of people don't make enough to invest in it. However, I think a lot of people are unaware of how the market works, and are unaware of just how low the barrier of entry is with things like index funds.
The market isn't even something you should think about. The ideal model is setting aside an amount of money each month and just buying an index fund with it, then forgetting that money exists for 15-20 years.
4 more days like yesterday and the entire trump-bump would be wiped off the map
[editline]9th February 2018[/editline]
[QUOTE=Harbie;53118524]
The market isn't even something you should think about. The ideal model is setting aside an amount of money each month and just buying an index fund with it, then forgetting that money exists for 15-20 years.[/QUOTE]
except 1/3 people aren't even saving for retirement 3/4 aren't putting away enough for retirementp and we still have a 15% uninsured rate, people don't have enough money for important savings, let alone a couple grand to toss onto the markets
Sorry, you need to Log In to post a reply to this thread.