Drudge Retort: The Other Side of the News
Friday, November 08, 2019

Dow, S&P 500 end at record highs even as conflicts emerge in Washington over new deal with China to cancel tariffs in stages. The Dow Jones Industrial Average DJIA, +0.02% rose 182.24 points, or 0.66%, to a record 27,674.80, while the S&P 500 index SPX, +0.26% gained 8.4 points, or 0.27%, to an all-time high of 3,085.18. The Nasdaq Composite index COMP, +0.48% added 23.89 points, or 0.28%, to 8,434.52, its second-highest close in history, according to Dow Jones Market Data.

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For those keeping track at home:

Barry election night Dow = 9,625 Trump election night Dow (Barry's end point) = 18,332

Barry compounded annual return = 8.4% Trump = 14.7%

Trump = 75% better for the market.

And Trump accomplished this in the face of aggressive rate increases by the Fed, fighting our Chinese trade war, placing other protective tariffs on US industries, constant negative press from liberals praying for a recession to hurt consumer confidence, a global economic slow down (EuroZone is negative and China is negative or zero), a strong US dollar policy, low inflation, and a do nothing congress that won't pass the USMCA.

Truly astonishing what this man has been able to acheive. Remember when "Always-Wrong" Krugman told you to take your money out of the market after the election? Remember the constant stream of Libs claiming the sky was falling? Remember when Black and Latinos could not find jobs and wages were stagnant under Obama? Yeah, amazing turn around.

Bill Clinton still reigns supreme at 16.4%, but that was driven by a well known stock market bubble related to tech stocks. However, the data is the data.

If the Fed gets out of the way, I see Trump passing Clinton in his second term.

Comments

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What would the fed have to do Ira?

#1 | Posted by oldwhiskeysour at 2019-11-08 11:21 PM | Reply

"#1 | POSTED BY OLDWHISKEYSOUR "

1.) Decouple the idiotic notion that rising wages lead to inflation which causes the Fed to proactively raise rates to cool the economy
2.) Set US interest rates similar to the global rates - if Europe is negative rates and we are issuing at 2%, there is an issue with the US policy. It is too slow to react and rates cuts are much less effective that rate increases on impacting the economy.

#2 | Posted by iragoldberg at 2019-11-08 11:29 PM | Reply | Funny: 1

What a riot.

Drive the economy off the cliff, hand off the wheel...

...and then blame Obama for not getting as good an economy as he handed off.

Republican Math at its most classic.

#3 | Posted by Danforth at 2019-11-09 12:08 AM | Reply | Newsworthy 4

Yeah, but Obama was cheaper - a substitute good.

From Kenya.

#4 | Posted by HeliumRat at 2019-11-09 12:27 AM | Reply

Who are you trying to convince?

#5 | Posted by fresno500 at 2019-11-09 12:45 AM | Reply

And Trump accomplished

Nothing.

Hows that 1.9% GDP growth that was oh so horrible under Obama?

#6 | Posted by jpw at 2019-11-09 01:39 AM | Reply | Newsworthy 1

Not to mention what do you expect when one was handed an economy in the schitter because the last round of Republican governance destroyed it while the other gets control of a growing, stead economy because of the last round of Democratic governance?

You schitheaps always get the goods and f--- it up.

#7 | Posted by jpw at 2019-11-09 01:49 AM | Reply

He's 100% better than Obama at stealing charity donation from veterans.

#8 | Posted by johnny_hotsauce at 2019-11-09 09:15 AM | Reply

...Trump = 75% better for the market. ...

Which is really saying that Pres Trump is 75% better for the wealthy, since it is the wealthy who benefit more from gains in stocks.

Along those lines, you should also mention how much better Pres Trump's tax cuts were for the wealthy.


... Truly astonishing what this man has been able to acheive. ...

If you only knew.

But I suspect we will find out a lot more in the coming weeks.

#9 | Posted by LampLighter at 2019-11-09 11:33 AM | Reply

"... Truly astonishing what this man has been able to acheive. ..."

Steve Schmidt:

There is an argument to be made that he is the most consequential president since FDR, because he is systematically unraveling, at an extremely fast pace, the U.S.-led global order that was architected by FDR, built by Harry Truman, and maintained from Eisenhower through Obama. And everywhere around the world, all of the countries and all of the groups that we don't want to see winning on the field of geopolitics " Iran, Hezbollah, ISIS, Al Qaeda, Russia, Turkey " are advancing while American interests are retreating.

He has completely remade the American presidency through his debasements of its traditions. He has pitted the country against each other in a cold civil war and he is the first president purposefully who, with each and every utterance, he seeks to incite and divide as opposed to unifying around core principles. He is attacking and degrading our institutions and the concepts of the rule of law that are necessary for the maintenance of the constitutional republic from within. He is utterly infidelitous to his oath to preserve, protect, and strengthen the Constitution of the United States. That makes him, not a clown and a joke, but a dangerous and profoundly consequential figure. I caveat "consequential" by saying it's not a celebratory statement " it's one of alarm.

#10 | Posted by Angrydad at 2019-11-09 11:49 AM | Reply | Newsworthy 1

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Go find a graph reflecting the last 12 years of the markets. Draw a line from the bottom, at about March 1st 2009, to the present. With a few ups and downs, you will see that the trend line has remained basically the same.

Though Trump might indeed have a significantly better record if he hadn't started his trade wars.

#11 | Posted by Whatsleft at 2019-11-09 01:13 PM | Reply

@#11 ... Go find a graph reflecting the last 12 years of the markets. Draw a line from the bottom, at about March 1st 2009, to the present. With a few ups and downs, you will see that the trend line has remained basically the same. ...

Yup, I have often said that Pres Trump's biggest accomplishment with regards to the stock market is that he did not screw up the foundation and trend that fmr Pres Obama put into place.

Having said that... the question remains, is Pres Trump putting into place the long-term policies that assure long term gains, as fmr Pres Obama did?

Or is Pres Trump merely doing things for short term political

#12 | Posted by LampLighter at 2019-11-09 08:15 PM | Reply | Funny: 1

"Draw a line from the bottom, at about March 1st 2009, to the present. With a few ups and downs, you will see that the trend line has remained basically the same."

Then you have never actually looked at chart of the Dow. If you had, you will see a period from from November/December 2014 and extending for nearly 2 years where the market traded sideways with several large dips. The corresponds with the Fed tapering off policies to juice the economy and Obama telling everyone that jobs are not coming and back and 2% growth is normal - so don't expect better. Given this extended for 2 years, this marked the death of the stock market rally from the bottom in 2009 driven mainly by the Fed pumping money into the system to inflate a stock market bubble to replace the popped real estate bubble. By 2014, the Fed tapered off the continual QE and rates remained at 0% - and the market stopped growing as Obama's "rally" was based on loose monetary policy and not actual economic activity.

After this, you can clearly see this no growth trend snapped by the Trump rally based mainly on actual underlying activity enabled by regulatory and tax reforms.

"Though Trump might indeed have a significantly better record if he hadn't started his trade wars.
#11 | POSTED BY WHATSLEFT "

I don't disagree with your statement - but any 'better record' by kowtowing to the Chinese in the near term would just kick the core problem down the road. Trump actually is solving the issue - and with the Chinese already hurting economically, this was the best time to act. So, yes - he could have had even bigger stock rallies but invested in the future of America by addressing trade issues now.

#13 | Posted by iragoldberg at 2019-11-10 12:51 AM | Reply

IraLieburg/Sheeple/Nobias/JordyStPete isn't good at math.
But then again his American Geography knowledge is piss poor as well.

He is proving that homeschooling in mother Russia is just as crappy as homeschooling in the US.

#14 | Posted by aborted_monson at 2019-11-10 04:38 AM | Reply

Draw a graph for 100 years of the US National Debt. If only it was the DOW.

#15 | Posted by Petrous at 2019-11-10 02:18 PM | Reply

"Draw a graph for 100 years of the US National Debt. If only it was the DOW"

If you're concerned about the debt, why do you vote for the folks who just exploded it?

#16 | Posted by Danforth at 2019-11-10 02:31 PM | Reply

"If you're concerned about the debt, why do you vote for the folks who just exploded it?
#16 | POSTED BY DANFORTH"

You act as if there is an option to select one party that won't explode spending. Our choice is between utter destruction and irresponsible. There is not 3rd option.

#17 | Posted by iragoldberg at 2019-11-11 01:22 AM | Reply

"You act as if there is an option to select one party that won't explode spending"

One party never asks how tax cuts will be covered. They're the ones who just voted to borrow an additional $2.3 Trillion, over ten percent of all the debt rung up since 1776. And the last Democrat not to inherit a meltdown economy left true surplus budgets in his wake.

#18 | Posted by Danforth at 2019-11-11 01:34 AM | Reply

#18 | POSTED BY DANFORTH

We are at where we are at.

Given that the Dem front-runner seeks to more than double current spending levels, please use math and explain why anybody who cares about our current fiscal situation should vote for Democrats going forward.

#19 | Posted by JeffJ at 2019-11-11 01:51 AM | Reply

"Given that the Dem front-runner seeks to more than double current spending levels, please use math and explain why anybody who cares about our current fiscal situation should vote for Democrats going forward."

Math? Sure: Senate will have LESS THAN 60 Democratic Senators.

Need any more math?

#20 | Posted by Danforth at 2019-11-11 02:23 AM | Reply

"#19 | POSTED BY JEFFJ"

I love how the Dem apologists all of the sudden pretend to care about the debt by whining about tax cuts - but then are silent about the $60T they want to lay on top in new spending...or ignore the fact that Obama took the Bush tax cuts and made them permanent. No Democrat is going to actually raise taxes once they get into office as they know the negative effect it will have on the economy. However, we know WITH 100% CERTAINTY that they will pass massive new spending - and bribe the GOP to go along with it by tossing a few bucks to the MIC.

#21 | Posted by iragoldberg at 2019-11-11 03:29 AM | Reply

#20 | POSTED BY DANFORTH

You didn't answer my question. Shocking!

#22 | Posted by JeffJ at 2019-11-11 07:12 AM | Reply

#21 | POSTED BY IRAGOLDBERG

Yep, and Donkey Suit Dan will cheer all of it on.

#23 | Posted by JeffJ at 2019-11-11 07:12 AM | Reply

Trump is at least 200% better than Obama at pedophilia.

#24 | Posted by kudzu at 2019-11-11 08:28 AM | Reply

"He's 100% better than Obama at stealing charity donation from veterans.

Trump is at least 200% better than Obama at pedophilia."

If you assign a % of improvement/enhancement, then you're conceding Obama stole from charities and is a pedophile.

You can ask Mathforth if you don't believe me.

If Jeff had made that comment, he would have pounced all over it.

#25 | Posted by eberly at 2019-11-11 09:01 AM | Reply | Funny: 1

"You didn't answer my question."

Only if you don't understand Actual Math. Or Reality 101.

#26 | Posted by Danforth at 2019-11-11 10:35 AM | Reply | Funny: 1

"If you assign a % of improvement/enhancement, then you're conceding Obama stole from charities and is a pedophile."

You're right.

Trump is infinitely worse than Obama.

#27 | Posted by Danforth at 2019-11-11 10:36 AM | Reply | Funny: 1

#26

I understand political reality better than most people.

You still aren't making a case for voting for Democrats in 2020 based on fiscal responsibility.

#28 | Posted by JeffJ at 2019-11-11 12:01 PM | Reply

Reality 101. Infinitely worse. Danforth wins today's posting medal and it's still early.

#29 | Posted by HeliumRat at 2019-11-11 12:07 PM | Reply

#28 Why should Dems be a slave to fiscal responsibility when you have put EVERYTHING on the card!?

Screw that trap!

AFTER THE LAST 3 YEARS, I AM NOT INTERESTED IN FISCAL RESPONSIBILITY.

You have set the tone. Don't fake concern about "responsibility" now.

#30 | Posted by fresno500 at 2019-11-11 01:40 PM | Reply

Neither party is taking steps involving the National Debt.

I dont believe anyone that is on any ballot is capable of dealing with the ND

Both parties wont cut spending, increase revenue, and pay off the debt.

I either see cutting spending (but not enough). Is there more revenue to grab? Yes, I think so, but the more we raise, the extra money 'has to be spent'.

Cut military spending, close bases, move all troops to the borders, establish all borders as US bases, close all immigration for four years. All of it. Expel all illegal immigrants...give 30 days to leave or be removed. All illegal gains from illegal immigration is forfeit to the Treasury. This applies to employers and employees. All student aid is only open to professions that provide a living wage. If cant produce a living wage, it will not be supported with public funds. This is a start.

#31 | Posted by Petrous at 2019-11-11 06:28 PM | Reply

Cut military spending, close bases, move all troops to the borders, establish all borders as US bases, close all immigration for four years. All of it. Expel all illegal immigrants...give 30 days to leave or be removed. All illegal gains from illegal immigration is forfeit to the Treasury. This applies to employers and employees. All student aid is only open to professions that provide a living wage. If cant produce a living wage, it will not be supported with public funds. This is a start.

That sounds totally doable. Go for it!

#32 | Posted by REDIAL at 2019-11-11 06:32 PM | Reply

"If cant produce a living wage, it will not be supported with public funds."

There goes the entire National Park Service. Fire & Police protection, too. Me...I'll miss the roads.

#33 | Posted by Danforth at 2019-11-11 06:47 PM | Reply

You think building roads doesnt make a living wage? You are nuts.

Every cop and firefighter I know makes a goos living.

#34 | Posted by Petrous at 2019-11-11 07:52 PM | Reply

"You think building roads doesnt make a living wage? You are nuts."

The company that rents the orange barrels makes millions. They sit there for years even when no work is being done.

But you KNOW they're billing monthly.

#35 | Posted by SheepleSchism at 2019-11-11 08:12 PM | Reply

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