Confidence and attitude. No "who".
So I guess there was a lot of confidence under Obama, since the stock market gained so much during his 2 terms. Right?
Wrong, Obama tried his best to undermine the economy with regulations and stupid shit liberal policies, the market rose in spite of Obama. Now that we got rid of that moron the market has taken off under pro business Trump.
But I was just told that the stock market goes up and down because of confidence. The stock market rose tremendously under Obama, so that must mean confidence was.......
I'll let you fill in the blank.
Please, do no expect either honesty nor logic from the partisan zealots. All they know is that (R) is good and (D) is bad. There is not another thought allowed into their tightly controlled little minds.
Oh I know. These idiots aren't meant for intelligent discussion. I use this place as a place to get a laugh and remind myself that I made good decisions in my life compared with the shithole existence they are living.
However, the bank bailout (love it or hate it) that was put into place during the last few months of the George W. Bush administration
also is largely responsible for stabilizing large banks, one of the primary culprits of the 2008 collapse.
Dow components JPMorgan Chase (
JPM) and Goldman Sachs (
GS) have skyrocketed since the bailout and are not far from their record highs.
Emergency programs put into place by the Federal Reserve in 2008 and early 2009 --
and the maintaining of historically low interest rates throughout Obama's tenure -- also played a role in stabilizing the markets.
The dramatic rise of several big technology stocks in the past eight years has also helped propel the market higher. That may have little to do with Obama.
Apple's (
AAPL) shares have surged more than 415% since he took office. Amazon's (
AMZN) are up an astonishing 900%.
And Facebook (
FB), which went public during the last few months of Obama's first term in 2012, is up 230% from its offering price.
Does Obama deserve credit for the genius of the late Steve Jobs, Jeff Bezos and Mark Zuckerberg? Not really.
All this goes to show that a President is partly (but not entirely) responsible for how well stocks do during their term. It's also worth noting that the market is not the same thing as the economy.
The market may have set records over the past eight years, but the pace of the economic recovery remains frustratingly slow for many Americans -- and that helped fuel Trump's victory over Hillary Clinton.
But if earnings keep humming along under Trump and economic growth picks up thanks to plans to boost infrastructure spending and other stimulus, then maybe the Dow will be above 45,000 (or even 60,000) by the time he's leaving the White House.
The Obama bull market: A 140% jump in the Dow
And remember ALL of this done under Obama's presidency and IN SPITE of Obama's "ANTI-American-Capitalist-Evil Business" following business destructive actions!
