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Star Member brooklynite (36,951 posts) http://upload.democraticunderground.com/10141716672Dow breaks above 21,000 as stocks hit all-time highs after Trump's speechSource: CNBC
Star Member kimbutgar (4,745 posts) 1. Before the crash in 1929 it reached new highsAfter working several years in Wall Street this is such a bs rally. A lot of traders are chump supporters who are trading on emotion not facts or good quarterly earnings.
DetlefK (9,424 posts) 7. "trading on emotion not facts"And this is exactly the reason why even the most powerful computers in the world still cannot predict the stock-market.
DetlefK (9,424 posts) 6. This is exactly the new economic bubble that Krugman et al. are warning about.Krugman predicted that first the stocks will rise under Trump, because of hope and enthusiasm among investors that a future economic boom is imminent. Then the investors will realize that Trump has no idea how to make that predicted economic boom actually come true. Then they will retreat their money. Then comes a small recession.
NurseJackie (11,556 posts) 21. I wonder how corporations with ties to the DOD are doing.
Star Member ProfessorGAC (29,021 posts) 22. There's No CausationThis analysis is just silly. A 1% bump in opening trading is not uncommon (look at a day to day statistical charting of DJIA or S&P), and it's not terribly uncommon for it to rise and stay until close. There wasn't a thing in that speech that would have directly caused the spike no matter what CNBC people have to say.
Star Member Vinca (32,054 posts) 25. Remember Obama getting credit for the market going up 14,000 points? Me neither.
JackRiddler (24,830 posts) 29. Why?Giving Obama credit for what Wall Street did made for a pretty daily celebration around these parts. Maybe one day people who rely on wages and salaries (or pensions, or nothing) as opposed to return on capital will realize that the price index of 30 big corporate stocks as chosen by a capitalist press organ may not be the best indicator of how well 90% of the people are actually doing.
ProfessorGAC (29,021 posts) 22. There's No Causation
Krugman predicted that first the stocks will rise under Trump
Paul "Enron" Krugman said that after 800=/- loss on the DOW futures that the market would never recover. Now it is 4000 points above the level when Paul "Enron" Krugman made his expert prediction.
Ya know, my first impression, on seeing this thread title, was that it had to be about a post from TMN or Buggee. Is TMN still posting? Did Buggee fly away home?
comment 86; ol' Bob looks pretty perky and chipper.https://conservativecave.com/home/index.php?topic=96179.75He probably hasn't said anything lately because his wife, embarrassed by his jibber-jabber on Skins's island, took away the keys to the computer, much like one hides automobile keys from an old person who shouldn't be driving.