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02-08-2018, 02:43 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,857
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Quote:
Originally Posted by whell
And this is bad why? Companies buy back shares in exchange for cash that goes back to investors, typically for more than the original purchase price of the stock. That creates wealth for the investor, which is then either reinvested or returned to the economy an other ways. This isn't a bad thing, and it fuels economic growth. So what's wrong with it?
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Because it reveals the lie about the GOP's "middle-class tax cut," dimwit. BTW, the GOP tax plan's $1.5 trillion shortfall, coupled with the ongoing budget negotiations adding a further $500 billion to the debt, have resulted in the need for the Treasury to announce its plans to borrow $3 trillion in the next 3 years, thereby spiking interest rates and inflation (and contributing/causing the current stock market craziness).
You really ought to stick to talking about things you have at least a basic understanding of. Economics is obviously not one of them.
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As long as the roots are not severed, all will be well in the garden.
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02-08-2018, 06:18 PM
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Admin
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Join Date: Dec 2011
Location: Behind the Orange Curtain in California
Posts: 37,188
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"Thursday’s losses wiped out all of the gains for the year for the Dow and S&P. The Dow dropped 1,032 points, or about 4.2 percent, to close at 23,860 — the second time it has lost more than 1,000 points over the past week. The Dow is now 10.4 percent below its all-time high on Jan. 26." WP
https://www.washingtonpost.com/busin...=.4bdf635cf392
Thanks 'Deadbeat' Donald.
It's a good thing I diversified my retirement portfolio into Altec Lansing and Marantz stock.
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I don't know half of you half as well as I should like, and I like less than half of you half as well as you deserve.
- Mr. Underhill
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02-08-2018, 07:35 PM
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Senior Member
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Join Date: Mar 2017
Posts: 13,286
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Jay Carney
@JayCarney
Good time to recall that in the previous administration, we NEVER boasted about the stock market -- even though the Dow more than doubled on Obama's watch -- because we knew two things: 1) the stock market is not the economy; and 2) if you claim the rise, you own the fall.
11:50 AM · Feb 5, 2018
Jennifer Rubin
@JRubinBlogger
Replying to @JayCarney
That would be because you weren't idiots
12:31 PM · Feb 5, 2018
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"In a time of deceit telling the truth is a revolutionary act." -
George Orwell
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02-08-2018, 07:50 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by finnbow
Because it reveals the lie about the GOP's "middle-class tax cut," dimwit.
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Did someone lie? Who lied? About what? Be specific. Who lied about the impact of a middle class tax cut that only just took effect a few days ago?
You're in such a hurry to trash it, why not it play out a little while and actually see what happens? Because you just can't allow anything that might be good news for folks appear to be good.
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02-08-2018, 08:07 PM
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Rational Anarchist
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Join Date: Jul 2014
Location: DFW
Posts: 7,315
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For the middle class it's about a small short term gain paid for by a potentially much larger long term loss. In addition, the lower class gets no ST gain along with a LT loss and the upper class' gets the best ST gain and a significantly smaller potential LT loss. After all, they're rich.
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"We have met the enemy and he is us."
Last edited by nailer; 02-08-2018 at 10:29 PM.
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02-08-2018, 08:15 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by finnbow
BTW, the GOP tax plan's $1.5 trillion shortfall, coupled with the ongoing budget negotiations adding a further $500 billion to the debt, have resulted in the need for the Treasury to announce its plans to borrow $3 trillion in the next 3 years, thereby spiking interest rates and inflation (and contributing/causing the current stock market craziness).
You really ought to stick to talking about things you have at least a basic understanding of. Economics is obviously not one of them.
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You don't have a basic understanding of much of anything, unless you read it in a Dem talking point. Treasuries have been selling at fire sale prices for years. The Fed has been suggesting rising rates for a couple years now, and Yellen was already raising rates at the end of her tenure.
https://www.bloomberg.com/news/artic...ferent-opinion
With this selloff in particular, the message is tough to parse. Using it to declare that a slowdown is imminent flies in the face of the signals emanating from employment data, consumer confidence and bond yields.
A recession isn’t the issue -- it’s inflation, an overheating economy, stiffening resolve at the Federal Reserve. What’s going on in the stock market may have nothing to do with the rest of the world at all. It was a technical panic engineered by volatility traders, a consequence of nosebleed valuations and too much euphoria, too soon..
You act like volatility in the stock market is something new and attributable to Trump. The tax cut didn't take effect until this month, but stock valuations have been rising steadily for a year or more. The Treasury bond sale this month was known well in advance and marginally increasing the size of the bond sale, at most, had little to do to accelerate what is already happening.
Get a freaking clue.
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02-08-2018, 08:33 PM
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Rational Anarchist
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Join Date: Jul 2014
Location: DFW
Posts: 7,315
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The stock market has been rising steadily since early in the Obama administration. Maybe you should follow your own advice.
__________________
"We have met the enemy and he is us."
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02-09-2018, 07:14 AM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by Chicks
Jay Carney
@JayCarney
Good time to recall that in the previous administration, we NEVER boasted about the stock market -- even though the Dow more than doubled on Obama's watch -- because we knew two things: 1) the stock market is not the economy; and 2) if you claim the rise, you own the fall.
11:50 AM · Feb 5, 2018
Jennifer Rubin
@JRubinBlogger
Replying to @JayCarney
That would be because you weren't idiots
12:31 PM · Feb 5, 2018
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I guess they were idiots, because they did take credit for market performance:
https://townhall.com/tipsheet/cortne...arket-n2444751
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02-09-2018, 07:22 AM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by Chicks
Jay Carney
@JayCarney
Good time to recall that in the previous administration, we NEVER boasted about the stock market -- even though the Dow more than doubled on Obama's watch -- because we knew two things: 1) the stock market is not the economy; and 2) if you claim the rise, you own the fall.
11:50 AM · Feb 5, 2018
Jennifer Rubin
@JRubinBlogger
Replying to @JayCarney
That would be because you weren't idiots
12:31 PM · Feb 5, 2018
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Maybe you're an idiot too for just lapping up what Carney and company say?
https://www.cnbc.com/2014/08/04/obam...rd-growth.html
"Let's look at the facts," Obama said. "Since I have come into office, there's almost no economic metric by which you couldn't say that the U.S. economy is better and that corporate bottom lines are better. None."
He went on to cite the administration's successes: "a record stock market," "record corporate profits," 52 straight months of consecutive job growth" and "an energy sector that's booming."
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02-09-2018, 07:23 AM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by nailer
The stock market has been rising steadily since early in the Obama administration. Maybe you should follow your own advice.
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Never claimed otherwise. SO what's your point?
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