Trump is Good for the Economy: DOW crosses 19,000 for first time

[Dug]

8 years of shaming white america hasnt put it in a good mood
surprised?

What does that have to do with my question? You said Obama is claiming USA is bad well so did Trump.

[Draco-Onis]

I am well aware of this fact. There were threats of emergency plbudgets with extreme public spending cuts immediately after the vote and this simply didn't happen.

There were a few people like George Osborne but they were criticized by both camps for their views, they were also people saying the UK would experience huge economic boom after the vote too.

[Bodakane]

The notion that insufficiently high taxes is what crashed the economy is pretty absurd on its face. Were there any other relevant phenomena you can think of circa 2007 that might have played a role other than top marginal tax rates?

The notion that you can't read on the other hand isn't so absurd.

I didn't the tax breaks did it. I said while they had the tax breaks they almost destroyed the economy. Oh wait....lemme guess its just a coincidence right?

[truckboattruck]

What does that have to do with my question? You said Obama is claiming USA is bad well so did Trump.

obama created many of the problems trump plans to fix

he's got a great new game planned for day 1....its called "count the executive orders being reversed"
you'll love it, i promise!

[Reeve]

The Dow is a terrible metric. You should look at the S&P 500.

Even then, markets trend towards higher numbers over time. It's how they work. Even when they fall, it's usually fairly short lived.

[akris15]

obama created many of the problems trump plans to fix

he's got a great new game planned for day 1....its called "count the executive orders being reversed"
you'll love it, i promise!

There will be a honeymoon period with all the republicans removing Obama policies (which Trump needs to be careful of because he thinks he has a mandate but in reality he doesn't) because they are united on that front nobody is doubting that. Lets see what happens in March when the debt ceiling vote comes up then lets watch as all the Republican factions come out and pulls out the long knives.

[Docturphil]

Again, pretty big if. There's a reason he's having difficulty actually forming a stable cabinet; competent people don't want to be tainted by association with an unpopular and contentious candidate who is, by all accounts, difficult to work with.

I don't think it's that big of an if. That's of course just my opinion. Time will tell. Cross your fingers.

I really hope that people don't reject the positions he offers them just because they don't want to be associated with him. I would hope that they're wise enough to put their country over themselves and realize that rejecting the position means he could have a greater potential of ending up with someone unfit for the position. But who am I kidding? People are selfish.

[Independent voter]

High dollar makes it hard for the US to export goods.

Businesses have to cut back.

Trump supporters lose jobs.

[truckboattruck]

There will be a honeymoon period with all the republicans removing Obama policies (which Trump needs to be careful of because he thinks he has a mandate but in reality he doesn't) because they are united on that front nobody is doubting that. Lets see what happens in March when the debt ceiling vote comes up then lets watch as all the Republican factions come out and pulls out the long knives.

obama got alot of what he wanted, through force and with no support
lets see what trump can do with much more than that

[KrazyK923]

Of course the stock market went up, Trump has said he wants to repeal a bunch of protection-based legislation.

The OP was made either in complete ignorance or deliberate misrepresentation of why something is happening.

Also hilarious how all of the work the Obama administration did is just ignored. I 'member when Xarim wasn't an insane Trumpette.

[akris15]

High dollar makes it hard for the US to export goods.

Businesses have to cut back.

Trump supporters lose jobs.

Lets also add a pinch of inflation in there while we are at it.

[unfilteredJW]

The real interesting thing is what stocks went up after his announcement.

Pretty much a who's who of garbage people/companies.

[baskev]

The last time a republican took office during times of prosperity, he used a budget surplus to what at the time was the largest tax cut to the top in history. By the time he was done, it was no longer an office overseeing prosperity, but one of the largest economic collapse in history and two wars. More Americans vote for that guy's opponent as well...

Oohhh yeah option 3:
Trump starts a war in lets say...asia??

[SirBeef]

The real interesting thing is what stocks went up after his announcement.

Pretty much a who's who of garbage people/companies.

But that is not his selling issue, never was. It was his name and his name only. Trump brand says luxury, dumb rich people buy into it becasue of appearance, the culture of keeping up with the Joneses and boom, you have cheaply built and made, overly expensive crap, that people eat up. It's kind of like TV ratings. A lot high rated TV shows are junk, but people watch it. SO advertises will flock to those programs since that is where the money is.

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Lets also add a pinch of inflation in there while we are at it.

This will be a disaster. I am glad I am a bit isolated from any shit that can happen, but I still worry.

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What does that have to do with my question? You said Obama is claiming USA is bad well so did Trump.

That stuck me odd the whole campaign. People bashed Obama for his so called "apology" tour when he apologized for the US dropping the bombs on Japan in WWII, and saying things could be better here. Yet the whole point of MAGA was that America was crap and only the Donald could fix it. I didn't hear the right calling him out on that.

[unfilteredJW]

But that is not his selling issue, never was. It was his name and his name only. Trump brand says luxury, dumb rich people buy into it becasue of appearance, the culture of keeping up with the Joneses and boom, you have cheaply built and made, overly expensive crap, that people eat up. It's kind of like TV ratings. A lot high rated TV shows are junk, but people watch it. SO advertises will flock to those programs since that is where the money is.

I'm talking more the private prison firms etc.

[akris15]

Yet the whole point of MAGA was that America was crap and only the Donald could fix it. I didn't hear the right calling him out on that.

Say what you want about Jon Stewart but hes right on one thing. Nobody ever asked him to go into detail on "what makes America great".

[alexw]

The notion that insufficiently high taxes is what crashed the economy is pretty absurd on its face. Were there any other relevant phenomena you can think of circa 2007 that might have played a role other than top marginal tax rates?

The lowered tax rates on the wealthy almost certainly made the crash worse. By lowering them it gave those individuals extra money which they were never going to spend. So what did they do with it? Pumped it into financial products such as CDO's, etc, that were the prime cause of the bubble. Thus those tax cuts made the bubble worse than it would otherwise have been.

[Dug]

That stuck me odd the whole campaign. People bashed Obama for his so called "apology" tour when he apologized for the US dropping the bombs on Japan in WWII, and saying things could be better here. Yet the whole point of MAGA was that America was crap and only the Donald could fix it. I didn't hear the right calling him out on that.

He also called our military stupid on multiple occasions yet veterans/military personnel were all for him (as they usually are with republicans) but never has a republican criticized the military and gotten praised for it like Trump has.

[Glorious Leader]

8 years of shaming white america hasnt put it in a good mood
surprised?

White america needs its safe spaces

[Spectral]

The lowered tax rates on the wealthy almost certainly made the crash worse. By lowering them it gave those individuals extra money which they were never going to spend. So what did they do with it? Pumped it into financial products such as CDO's, etc, that were the prime cause of the bubble. Thus those tax cuts made the bubble worse than it would otherwise have been.

This seems like a valid story. The magnitude of this effect is not likely to be especially high and it doesn't address underlying causes - if there aren't garbage CDOs and bizarrely bundled financial products that the bundlers themselves didn't really understand, the ability to pump more money into them doesn't exist.

In any case, Bodakane's story doesn't really seem to go much farther than "we cut rich people's taxes and bad things happened, so punish rich people". There's not much point in going farther down that road.