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The DUmpster / Re: DOW just broke 40,000
« Last post by Ralph Wiggum on May 16, 2024, 01:25:42 PM »Explain why Comatose Joe has a single thing to do with the Dow Jones rise, and show your work. Which of course none of you can, so I'll summarize what's going on.
The Dow has reached this height despite Sharter Joe, not because of him. Government spending is beyond out of control, and its related components are almost the only part of the economy that is benefiting. The artificial intelligence industry boom would have happened under any President, and its major companies are almost the ONLY ones that are propping up the overall economy.
Additionally, a bunch of fund managers got all giddy like little schoolgirls with overenthusiastic exuberance over five possible rate cuts this year. As piss poor as the underlying economic factors are, not only should there NOT be a bunch of rate cuts, the Fed should RAISE the funds rate which would stabilize that overall economy. The head of the Fed has suggested that no rate cuts are coming, but possibly one. Jerome Powell will be under tremendous pressure if he reduces rates in September immediately before a Presidential election. I'll bet he actually does it, putting his thumb on a MAJOR economic trigger. It will be disastrous in the long run, but Biden's lackeys will make him do it.
That's about the shortest synopsis I can give, but it is far and above anything a lib might spout when crowing about this falsely propped up economy.
The Dow has reached this height despite Sharter Joe, not because of him. Government spending is beyond out of control, and its related components are almost the only part of the economy that is benefiting. The artificial intelligence industry boom would have happened under any President, and its major companies are almost the ONLY ones that are propping up the overall economy.
Additionally, a bunch of fund managers got all giddy like little schoolgirls with overenthusiastic exuberance over five possible rate cuts this year. As piss poor as the underlying economic factors are, not only should there NOT be a bunch of rate cuts, the Fed should RAISE the funds rate which would stabilize that overall economy. The head of the Fed has suggested that no rate cuts are coming, but possibly one. Jerome Powell will be under tremendous pressure if he reduces rates in September immediately before a Presidential election. I'll bet he actually does it, putting his thumb on a MAJOR economic trigger. It will be disastrous in the long run, but Biden's lackeys will make him do it.
That's about the shortest synopsis I can give, but it is far and above anything a lib might spout when crowing about this falsely propped up economy.
and QFT, though OhBummer! and Slick Willy probably were worse than JEC.