My!! How the Dow has grown!!!

[bendog]

Has anyone noticed how the left has suddenly stopped trashing Wall Street during that same time frame something they did regularly under Bush?

I seem to recall not much growth in my IRA during the BushII years. That's not to blame BushII entirely, though the tax cuts, deficits and resulting bubble in the real estate market didn't help. But, the good years when Slick lucked out were pretty much set up by BushI fiscal conservatism in raising taxes in the face of deficits and getting the Savings and Loan Debacle behind us. And after 80-2000, you gotta figure on lean years. I just wish the public pension managers had so figured.

Please explain how increasing income taxes would have helped retirement investments? How did cutting taxes across the board hinder your personal retirement investments?

Go to this American life and look for "a giant pool of money" show. But, basically by cutting taxes and increasing spending, and going from a net surplus budget to deficits only outdone by Obama and a recession, we issued a whole mess of extra TBills. Because Greenspan kept rates low, the Chinese preferred real estate debt, which was thougth to be as safe. To fulfill that market, US lenders made a bunch of subprime loans that they knew would never be met. A bubble market ensued.

We inflated the bond market and equities were flat. But, again, given the gains from the previous 20 years, at best we were gonna make may 3% in equities. We didn't really get that. The only people who made money were traders, and the scum who came up with the bogus loans.

And it wasn't INCREASING TAXES. It was about breaking what wasn't broken. Nobody beyond the 1% really cared that much for the bushii tax cuts.


Bush Loses Favor, Poll Says, Despite Tax Cut and Trip - NYTimes.com
Apart from the discomfort about Mr. Bush himself, the public's anxiety about the future of Social Security is as high now as at any time in the 10 previous readings taken over the last 20 years by the Times and CBS News. The respondents said Mr. Bush's tax cut of $1.35 trillion over 10 years would not have much effect on the economy — and that the money could have been put to better use in programs like Social Security and Medicare. (The tax cut has been approved, but people have yet to receive their rebate checks.)

 

[Oldstyle]

I seem to recall not much growth in my IRA during the BushII years. That's not to blame BushII entirely, though the tax cuts, deficits and resulting bubble in the real estate market didn't help. But, the good years when Slick lucked out were pretty much set up by BushI fiscal conservatism in raising taxes in the face of deficits and getting the Savings and Loan Debacle behind us. And after 80-2000, you gotta figure on lean years. I just wish the public pension managers had so figured.

Please explain how increasing income taxes would have helped retirement investments? How did cutting taxes across the board hinder your personal retirement investments?

Go to this American life and look for "a giant pool of money" show. But, basically by cutting taxes and increasing spending, and going from a net surplus budget to deficits only outdone by Obama and a recession, we issued a whole mess of extra TBills. Because Greenspan kept rates low, the Chinese preferred real estate debt, which was thougth to be as safe. To fulfill that market, US lenders made a bunch of subprime loans that they knew would never be met. A bubble market ensued.

We inflated the bond market and equities were flat. But, again, given the gains from the previous 20 years, at best we were gonna make may 3% in equities. We didn't really get that. The only people who made money were traders, and the scum who came up with the bogus loans.

And it wasn't INCREASING TAXES. It was about breaking what wasn't broken. Nobody beyond the 1% really cared that much for the bushii tax cuts.


Bush Loses Favor, Poll Says, Despite Tax Cut and Trip - NYTimes.com
Apart from the discomfort about Mr. Bush himself, the public's anxiety about the future of Social Security is as high now as at any time in the 10 previous readings taken over the last 20 years by the Times and CBS News. The respondents said Mr. Bush's tax cut of $1.35 trillion over 10 years would not have much effect on the economy — and that the money could have been put to better use in programs like Social Security and Medicare. (The tax cut has been approved, but people have yet to receive their rebate checks.)

If nobody beyond the 1% cared about the Bush tax cuts then why did Obama want to retain the tax cuts for those below $250,000 dollars? Obviously they were important to the health of the economy because even a card carrying progressive like Barry was convinced that getting rid of the tax cuts would seriously dampen the economic recovery.

 

[Dont Taz Me Bro]

Has anyone noticed how the right has remained silent about how the Dow Jones Industrial Average has climbed since Obama took office. When bush left office the DJIA was around 8000. Under Obama it has doubled and is arround 16,500. So much for the right claiming that they are the party that will grow the economy.

So what you're saying is the Democratic Party is the party of the rich?

 

[bendog]

Please explain how increasing income taxes would have helped retirement investments? How did cutting taxes across the board hinder your personal retirement investments?

Go to this American life and look for "a giant pool of money" show. But, basically by cutting taxes and increasing spending, and going from a net surplus budget to deficits only outdone by Obama and a recession, we issued a whole mess of extra TBills. Because Greenspan kept rates low, the Chinese preferred real estate debt, which was thougth to be as safe. To fulfill that market, US lenders made a bunch of subprime loans that they knew would never be met. A bubble market ensued.

We inflated the bond market and equities were flat. But, again, given the gains from the previous 20 years, at best we were gonna make may 3% in equities. We didn't really get that. The only people who made money were traders, and the scum who came up with the bogus loans.

And it wasn't INCREASING TAXES. It was about breaking what wasn't broken. Nobody beyond the 1% really cared that much for the bushii tax cuts.


Bush Loses Favor, Poll Says, Despite Tax Cut and Trip - NYTimes.com
Apart from the discomfort about Mr. Bush himself, the public's anxiety about the future of Social Security is as high now as at any time in the 10 previous readings taken over the last 20 years by the Times and CBS News. The respondents said Mr. Bush's tax cut of $1.35 trillion over 10 years would not have much effect on the economy — and that the money could have been put to better use in programs like Social Security and Medicare. (The tax cut has been approved, but people have yet to receive their rebate checks.)

If nobody beyond the 1% cared about the Bush tax cuts then why did Obama want to retain the tax cuts for those below $250,000 dollars? Obviously they were important to the health of the economy because even a card carrying progressive like Barry was convinced that getting rid of the tax cuts would seriously dampen the economic recovery.

Ah, crack cocaine. AKA starve the beast. But the pt remains, as does the link, in 2001 the bushtaxcut was greeted with lukewarm support and suspicion, which it rightly deserved.

 

[Oldstyle]

Has anyone noticed how the right has remained silent about how the Dow Jones Industrial Average has climbed since Obama took office. When bush left office the DJIA was around 8000. Under Obama it has doubled and is arround 16,500. So much for the right claiming that they are the party that will grow the economy.

So what you're saying is the Democratic Party is the party of the rich?

What I'm saying is that the Obama Administration has been the best thing ever for the wealthy and an absolute disaster for the Middle Class which makes their message about the sins of "income inequality" rather amusing.

 

[bendog]

Has anyone noticed how the right has remained silent about how the Dow Jones Industrial Average has climbed since Obama took office. When bush left office the DJIA was around 8000. Under Obama it has doubled and is arround 16,500. So much for the right claiming that they are the party that will grow the economy.

So what you're saying is the Democratic Party is the party of the rich?

marvelous, isn't it.

 

[Oldstyle]

Go to this American life and look for "a giant pool of money" show. But, basically by cutting taxes and increasing spending, and going from a net surplus budget to deficits only outdone by Obama and a recession, we issued a whole mess of extra TBills. Because Greenspan kept rates low, the Chinese preferred real estate debt, which was thougth to be as safe. To fulfill that market, US lenders made a bunch of subprime loans that they knew would never be met. A bubble market ensued.

We inflated the bond market and equities were flat. But, again, given the gains from the previous 20 years, at best we were gonna make may 3% in equities. We didn't really get that. The only people who made money were traders, and the scum who came up with the bogus loans.

And it wasn't INCREASING TAXES. It was about breaking what wasn't broken. Nobody beyond the 1% really cared that much for the bushii tax cuts.


Bush Loses Favor, Poll Says, Despite Tax Cut and Trip - NYTimes.com
Apart from the discomfort about Mr. Bush himself, the public's anxiety about the future of Social Security is as high now as at any time in the 10 previous readings taken over the last 20 years by the Times and CBS News. The respondents said Mr. Bush's tax cut of $1.35 trillion over 10 years would not have much effect on the economy — and that the money could have been put to better use in programs like Social Security and Medicare. (The tax cut has been approved, but people have yet to receive their rebate checks.)

If nobody beyond the 1% cared about the Bush tax cuts then why did Obama want to retain the tax cuts for those below $250,000 dollars? Obviously they were important to the health of the economy because even a card carrying progressive like Barry was convinced that getting rid of the tax cuts would seriously dampen the economic recovery.

Ah, crack cocaine. AKA starve the beast. But the pt remains, as does the link, in 2001 the bushtaxcut was greeted with lukewarm support and suspicion, which it rightly deserved.

Gee, Ben...the New York Times didn't like a Bush policy and did a poll to reflect that? That's shocking to you? Really...

It's amazing how those cuts were frowned upon by the left back in 2001 (how dare Bush let Americans keep their hard earned money!) yet were recognized as essential by the far left Obama Administration eight years later.

 

[bendog]

Right, blame the messenger. Google the poll data yourself then.

look a hole, it's for your head.

 

[boedicca]

Has anyone noticed how the right has remained silent about how the Dow Jones Industrial Average has climbed since Obama took office. When bush left office the DJIA was around 8000. Under Obama it has doubled and is arround 16,500. So much for the right claiming that they are the party that will grow the economy.

Has anyone noticed how the Lefties think that the stock price of 30 Mega Corporations (most of whom are Big Government Cronies) reflects the health of the economy at large?

That's like putting a hand to one's forehead and calling it a physical.

The Dow is made up of companies like XOM and MCD, which will always do well in a bad economy because poor people will still drive their cars to get fast food.

 

[bendog]

I think ron's the only one who opined on that. I recall that when I was growing up during the 1960's (a liberal era) that I thought it odd that whenever workers (like my dad) had lots of job opportunities, equities would fall, then the govt would raise interest rates, jobs got scarcer and equities went up. Or at least it seemed that way. Things got more complicated. LOL

 

[RoadVirus]

Has anyone noticed how the right has remained silent about how the Dow Jones Industrial Average has climbed since Obama took office. When bush left office the DJIA was around 8000. Under Obama it has doubled and is arround 16,500. So much for the right claiming that they are the party that will grow the economy.

And you know how Obama got it this high? Through artificial means, i.e. the Fed.

Nice try. FAIL!

 

[whitehall]

The DOW will always grow but how can the bi-polar left celebrate corporate wealth and at the same time criticize corporations for their seemingly callus aquisition of wealth? Something ain't right in the leftie mind.

 

[Oldstyle]

The DOW will always grow but how can the bi-polar left celebrate corporate wealth and at the same time criticize corporations for their seemingly callus aquisition of wealth? Something ain't right in the leftie mind.

The Left sort of HAS to celebrate the stock market going up even though it benefited predominantly wealthy people and did little for the Middle Class and the poor! It's not like they have a lot of OTHER successes that they can point to with Barry and the Gang Who Couldn't Shoot Straight running things. Obama hasn't had an economic strategy since Larry Summers quit and ran back to Harvard. We've done quantitative easing because that's the only thing these idiots can think of to keep the whole house of cards from coming down around their ears. It's looking like it will be eight straight years of pumping FED money into the system trying to keep the stock market bubble from bursting...something that is unprecedented.