• Boom: Dow hits 20,000 for first time ever
    46 replies, posted
[QUOTE]Dow 20,000 is finally here After weeks of [URL="http://money.cnn.com/2017/01/06/investing/dow-nears-20000-jobs-report-trump-rally/?iid=EL"]close calls[/URL], the Dow made history on Wednesday by blowing past that key level for the first time ever. The Dow climbed 156 points to 20,069 and was joined in record territory by the S&P 500 and Nasdaq. [B]The historic milestone leaves the Dow up more than 1,700 points since President Donald Trump's victory in November.[/B] The achievement is evidence of how optimistic investors have [URL="http://money.cnn.com/2016/12/13/investing/stock-market-2017/index.html?iid=EL"]become about the prospects for the U.S. economy.[/URL] "The stock market has given him this extraordinary vote of approval. Happy days are here again," said Ed Yardeni, president of Yardeni Research. [B]Wall Street is clearly betting that Trump's plans to [URL="http://money.cnn.com/2016/11/15/pf/taxes/trump-tax-plan/index.html?iid=EL"]slash taxes[/URL], ramp up [URL="http://money.cnn.com/2016/11/14/investing/us-concrete-ceo-donald-trump-infrastructure/index.html?iid=EL"]infrastructure spending[/URL] and [URL="http://money.cnn.com/2016/11/14/investing/us-concrete-ceo-donald-trump-infrastructure/index.html?iid=EL"]cut regulation[/URL] will make the American economy grow faster. If that happens, without any [URL="http://money.cnn.com/2017/01/25/investing/dow-20000-stocks/money.cnn.com/2016/12/28/investing/trump-trade-war-stocks-2017-survey/index.html?iid=hp-toplead-dom"]disruptions to global trade[/URL], it could propel corporate profits, the lifeblood of stock prices. [/B] [B]But the jump in stocks is also a reflection of the solid economy Trump inherited from former President Obama. [/B] The U.S. has added jobs [URL="http://money.cnn.com/2017/01/06/news/economy/december-jobs-report-2016/index.html?iid=EL"]for a record 75 straight months[/URL] and the unemployment rate is sitting near a 10-year low. The Dow 20,000 milestone also shows how much has changed in the U.S. economy over the past eight years. The index crashed to a low of 6,440 in March 2009 as Wall Street feared a complete collapse of the American financial system.[B] The astounding 13,500-point rise since then has been fueled by a consistent, albeit imperfect, economic recovery combined with the U.S. central bank's massive stimulus program and near-0% interest rates. [/B] While the economic rebound from the Great Recession has been slower than many hoped, [B]the unemployment rate is now at the [URL="http://money.cnn.com/2016/12/02/news/economy/november-jobs-report/index.html?iid=EL"]lowest level since 2007[/URL] and corporate profits have climbed to record highs.[/B] "The economy has come a long way in eight years. Overall, it's a healthier economy and does justify a much higher stock market than eight years ago," said David Kelly, chief global strategist at JPMorgan Funds. [/QUOTE] [URL]http://money.cnn.com/2017/01/25/investing/dow-20000-stocks/[/URL] Thanks Obama!
Is this sustainable?
[QUOTE=BlackMageMari;51726445]Is this sustainable?[/QUOTE] Considering who's in charge now? Not a chance in hell. Especially since he's intent on tearing down free trade deals and hurting America's international trading.
I have no clue what this means
[QUOTE=BlackMageMari;51726445]Is this sustainable?[/QUOTE] No, eventually they'll run out of money in circulation because the 1% hoard it.
I'm just really worried that they are hyping up Trump way, way too much. This could be like how the pound was hyped up before the Brexit vote, and then suddenly it all came down. But potentially much, much worse.
[QUOTE=SIRIUS;51726452]I have no clue what this means[/QUOTE] Stock market bubble thanks to trump, It's gonna crash hard eventually.
Down to under 10,000 within a year or two of Trump's presidency, imo.
[QUOTE=BlackMageMari;51726445]Is this sustainable?[/QUOTE] Depends on a multitude of factors that are or aren't in Trump's hands. [QUOTE=SIRIUS;51726452]I have no clue what this means[/QUOTE] People are optimistic enough about the US economy to invest in it.
[QUOTE=Reshy;51726453]No, eventually they'll run out of money in circulation because the 1% hoard it.[/QUOTE] Are you fucking kidding me? The "1%" doesn't keep its money in a giant vault to use as a pool like Scrooge McDuck. The money is kept in banks that loan it out, or it is invested in businesses that use it to pay wages/supplies/etc, or invested on startups. Keeping the money in a vault without using it is a terrible strategy, since its value is constantly decreased due to inflation.
[QUOTE=SIRIUS;51726452]I have no clue what this means[/QUOTE] Time to sell.
[QUOTE=BlackMageMari;51726459]I'm just really worried that they are hyping up Trump way, way too much. This could be like how the pound was hyped up before the Brexit vote, and then suddenly it all came down. But potentially much, much worse.[/QUOTE] The difference is the pound plummeted after Brexit was voted on. This is happening after Trump actually enters office.
[QUOTE=matt000024;51726555]The difference is the pound plummeted after Brexit was voted on. This is happening after Trump actually enters office.[/QUOTE] True, but at the same time his policies also haven't had an effect yet. It will be interesting to see what happens they do.
I've read a few times from economists that this was likely to have happened (the stock surging) no matter who became president, because the economy was in a healthy state and was ripe for investment, BUT, people were waiting to see which candidate/party won to see which industries to invest in (e.g. if hillary won it wouldn't have been great to invest in oil like people have with Trump.) Booms are usually followed by another b word but as of right now this is pretty good tho
[QUOTE=DELL;51726463]Stock market bubble thanks to trump, It's gonna crash hard eventually.[/QUOTE] Perfect time to start investing in stocks because it only has one direction to go- up!
[QUOTE=LtKyle2;51726674]Perfect time to start investing in stocks because it only has one direction to go- up![/QUOTE] If it wasn't something like the DOW I would agree, however in this case it would be better to buy after the crash. As it's one of the few stocks that even after a crash will end up stable with most likely triple profits.
[QUOTE=BlackMageMari;51726445]Is this sustainable?[/QUOTE] absolutely until its not because we have basically nothing to leverage against with 0% interest rates
Yet again our society shows a stunning lack of capacity to break this ridiculous myth in infinite growth. Weve learned nothing from 2008, and factors (like wealth inequality) have only gotten worse, so this kind of frantic speculatory growth is deeply unsettling. Ill be shocked if we dont have another major crash by 2020.
[QUOTE=archangel125;51726448]Considering who's in charge now? Not a chance in hell. Especially since he's intent on tearing down free trade deals and hurting America's international trading.[/QUOTE] Some would say the man in charge is the reason that the DOW is at 20k
As a country and society we don't know what sustainability means in many ways.
[QUOTE=luverofJ!93;51726879]Yet again our society shows a stunning lack of capacity to break this ridiculous myth in infinite growth. Weve learned nothing from 2008, and factors (like wealth inequality) have only gotten worse, so this kind of frantic speculatory growth is deeply unsettling. Ill be shocked if we dont have another major crash by 2020.[/QUOTE] hopefully it will wake people (and the government) up to the fact that america's system is not sustainable anymore and needs overhauled
[QUOTE=luverofJ!93;51726879]Yet again our society shows a stunning lack of capacity to break this ridiculous myth in infinite growth. Weve learned nothing from 2008, and factors (like wealth inequality) have only gotten worse, so this kind of frantic speculatory growth is deeply unsettling. Ill be shocked if we dont have another major crash by 2020.[/QUOTE] BDA our mod says we are in for another real estate collapse.
[QUOTE=archangel125;51726448]Considering who's in charge now? Not a chance in hell. Especially since he's intent on tearing down free trade deals and hurting America's international trading.[/QUOTE] Within four days of him taking office it hit 20k. I think he'll do fine. Guys, he's the president whether you like him or not. Even Obama said you need to just get behind him and hope for the best.
[QUOTE=agentfazexx;51727069]Within four days of him taking office it hit 20k. I think he'll do fine. Guys, he's the president whether you like him or not. [B]Even Obama said you need to just get behind him and hope for the best.[/B][/QUOTE] Source?
[QUOTE=Judas;51726926]hopefully it will wake people (and the government) up to the fact that america's system is not sustainable anymore and needs overhauled[/QUOTE] The tech coming soon will do the overhauling. Nano, automaton, biotech, cybernetics and what not will create a change.
[QUOTE=thelurker1234;51726655]I've read a few times from economists that this was likely to have happened (the stock surging) no matter who became president, because the economy was in a healthy state and was ripe for investment, BUT, people were waiting to see which candidate/party won to see which industries to invest in (e.g. if hillary won it wouldn't have been great to invest in oil like people have with Trump.) Booms are usually followed by another b word but as of right now this is pretty good tho[/QUOTE] b-b-b-b-burst?
[QUOTE=wallyroberto_2;51727105]b-b-b-b-burst?[/QUOTE] Or bust, to keep it in 4 letter b words.
[QUOTE=Raidyr;51727089]Source?[/QUOTE] Every speech he made after Trump won? Any decent American will want their president to do well. I hated Obama up until the end but I wanted and hoped he'd do the right thing. Idk why Facepunch is so anti-republican but he's the president now, there's nothing you can do about it, so just hope for the best and stop this stupid "RESIST!" bullshit
[QUOTE=agentfazexx;51727685]Every speech he made after Trump won?[/QUOTE] If he said it in every speech then I'd imagine it be easy to find. I know he has said things like "we are one America, we are one team" and that he wants to see Trump succeed, but he also noted the differences of opinion he has so I don't imagine Obama would use the words "get behind him" in the way you are. [editline]25th January 2017[/editline] [QUOTE=agentfazexx;51727685]Every speech he made after Trump won? Any decent American will want their president to do well. I hated Obama up until the end but I wanted and hoped he'd do the right thing. Idk why Facepunch is so anti-republican but he's the president now, there's nothing you can do about it, so just hope for the best and stop this stupid "RESIST!" bullshit[/QUOTE] Yeah Obama wants Trump to do well but you didn't say that, probably because it's not as effective language as saying that Obama says we should line up behind Trump and be down with whatever he wants to say or do. You didn't say that, but it's implied. People lean away from Trump and Republicans for different reasons and maybe if you took the time to understand why you wouldn't feel like them exercising their rights is necessarily stupid bullshit.
[QUOTE=RocketSnail;51726900]Some would say the man in charge is the reason that the DOW is at 20k[/QUOTE] Yes but factually, his actions have nothing to do with that and his presence is an indicator, of what, not even the stocks are going to tell you that. however, feel free to find another reason to support Trump, that he has nothing to do with in any actionable terms. [editline]25th January 2017[/editline] [QUOTE=agentfazexx;51727685]Every speech he made after Trump won? Any decent American will want their president to do well. I hated Obama up until the end but I wanted and hoped he'd do the right thing. Idk why Facepunch is so anti-republican but he's the president now, there's nothing you can do about it, so just hope for the best and stop this stupid "RESIST!" bullshit[/QUOTE] That's stupid, sorry, it is. You just sat back and accepted Obama? You never wrote a letter, complained to congress, or took democratic actions that you are able to do? Damn, your fault. But why should other people take that approach? As for me, as a Canadian, I'm going to be effected by this in many ways that I can't effect, so, I will complain. Why is that bad?
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