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Old 01-18-2018, 04:00 PM
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Default Re: The Dow just hit an all-time high, as the GOP tax plan fuels economic optimism

Originally Posted by WallyWager View Post
Amazing how Trump was able to get the economy going in the right direction, even seven years before he became president!

But it is funny how for years, when Obama was president and the economy was growing, jobs were growing, and the stock market boomed, reached many all-time highs, conservatives either downplayed or spun or flat out insisted nothing good was happening. Today tho, nothing but Trump brand miracles in spite of the fact that job growth slowed compared to last year, and the trajectory of economic growth hasn't changed.
For the last 8 years, the economy was held to under 2% growth. The rise in the stock market was due to the Fed pumping money into the market in what was called "Quantitative Easing".

Now the market is growing, not because of the Feds pumping in money, but on investors optimism due to the Trump admin cutting regulations and lowering corporate tax rates.

If Obama had done such a good job, why was the economy held in check until the moment he left office? You can spin it anyway you like, but the fact remains that Obama's policies and approach to the economy, basically held the economy in check for 8 years. Obama tried to tell us that is the new normal and that manufacturing jobs were gone and not coming back. He has been proven wrong, all in under a year.
To argue with a person who has renounced the use of reason is like administering medicine to the dead - Thomas Paine

A lie doesn't become truth, a wrong doesn't become right, and Evil doesn't become good, just because it is accepted by the majority. - Booker T Washington
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