RedSavage Posted February 2, 2018 Share Posted February 2, 2018 31 minutes ago, funhusker said: But then wouldn't the "tech bubble growing" get credit for the market growth before it popped? Or banks and housing markets causing growth in 2009? How much credit should Clinton or Bush get for the growth if we we're not going to give them credit for the decline? Clinton and Bush don't get credit for the growth in either of those scenarios, IMO. How did they help tech or banks grow? Yea bc Clinton is some tech wizard, he's definitely responsible for the growth in that sector. Clinton did do a good job of "hiding" the budget deficit when he was in office though, which likely helped, so I will give him credit there. No one knew that banks were giving out loans to anyone and people's dog's (literally) in '07-'08. That had nothing to do with Bush. 34 minutes ago, RedDenver said: But my point is if that's true, then isn't it true that the same economic factors that lead to bull markets are also out of the president's control? IMO, no. The market is driven more by emotion than fact and the current emotion is that there is going to be less regulation, people will have more money in their pockets from the tax bill, etc. Trump gets credit for the tax bill, whether he was ultimately responsible for that or not. Did Clinton or Bush do anything like that to help drive the market? I will say congress has more control than the president though, as one of the biggest economic factors they have control over is fiscal and monetary policy, which can have a huge impact on the market. I'm not saying Trump gets all the credit for this, a lot of the market continuing to go up has to do with corporations having record earnings and profits. As long as earnings go up, so does the market. There's also the factor of not being able to put money anywhere else and have it grow. Can't grow your money earning .001% in a checking account at the bank. Link to comment
ZRod Posted February 2, 2018 Share Posted February 2, 2018 1 hour ago, Nebfanatic said: Watch Trump blame a downturn on Obama or Clinton I mean there could very well be a valid claim for that. You can argue that Bill Clinton did have some contributions to the recession. Link to comment
ZRod Posted February 2, 2018 Share Posted February 2, 2018 1 hour ago, RedSavage said: Historically speaking, what has caused the downturns in the past, are economic factors that are out of the president's control. For example, the tech bubble in the late 90's and the housing/financial crisis in 2008. It's possible that Trump will be to blame, but unlikely. If you actually look though you can find policy decision that paved the way for the abuses that led to those crashes. Link to comment
BigRedBuster Posted February 2, 2018 Share Posted February 2, 2018 Yeah....Trump really did a great job on my 401K today. 1 Link to comment
Moiraine Posted February 2, 2018 Share Posted February 2, 2018 (edited) 7 hours ago, Nebfanatic said: Also why does Trump get to take all of the credit for this? Is he the one making the stock market go up? How much effect does the president really have in one year on the market? Because people don't understand how things work. Obama took all the blame for those awful gas prices. I remember the memes all over my FB feed. Then he got no credit by the same idiots when they went down and stayed down. How people should react is to not give the President so much blame/credit for things he has little/no control over. Trump bragging about stock prices and black unemployment are especially laughable because he merely continued trends that were started when Obama was president. And Obama doesn't deserve sole credit for that either. Edited February 2, 2018 by Moiraine 2 Link to comment
commando Posted February 2, 2018 Share Posted February 2, 2018 i wonder if the nunes memo had anything to do with the drop today? Link to comment
NM11046 Posted February 2, 2018 Share Posted February 2, 2018 1 minute ago, commando said: i wonder if the nunes memo had anything to do with the drop today? You forgot this ... Link to comment
Moiraine Posted February 3, 2018 Share Posted February 3, 2018 6 hours ago, ZRod said: I mean there could very well be a valid claim for that. You can argue that Bill Clinton did have some contributions to the recession. Yes there could. But it's beside the point. Trump shouts to the heavens that he is solely responsible for everything good that ever happens, even stuff he makes up. So he should be prepared to also take sole responsibility for every bad thing that happens. Logically neither of these things is correct. But if he does one he should do the other. 3 Link to comment
commando Posted February 3, 2018 Share Posted February 3, 2018 2 minutes ago, Moiraine said: Yes there could. But it's beside the point. Trump shouts to the heavens that he is solely responsible for everything good that ever happens, even stuff he makes up. So he should be prepared to also take sole responsibility for every bad thing that happens. Logically neither of these things is correct. But if he does one he should do the other. its what his base wants...a messiah to save them from the evil libs. Link to comment
Danny Bateman Posted February 3, 2018 Share Posted February 3, 2018 (edited) A good rule of thumb is to not assign too much credit OR blame to any president on economic matters. It's just common sense they're going to claim credit for anything good and run away from anything bad economy related. They usually ave limited effect anyway. Also, good rule of thumb: don't listen to Trump. He's a serial liar who has to insert himself into everything. It would just be nice to have a president who doesn't screw things up. Obama certainly didn't, and made the right calls in 2008. Hopefully Trump doesn't either. Edited February 3, 2018 by dudeguyy 1 Link to comment
Danny Bateman Posted February 3, 2018 Share Posted February 3, 2018 @RedSavage Speak for yourself man! I get 2.3% interest for checking at my credit union! Link to comment
methodical Posted February 3, 2018 Share Posted February 3, 2018 If these are the things that supposedly make Trump a good president you must have been ecstatic with Obama in office and going from a tanking economy to 8 strait years of growth and prosperity. 3 Link to comment
commando Posted February 3, 2018 Share Posted February 3, 2018 13 minutes ago, methodical said: If these are the things that supposedly make Trump a good president you must have been ecstatic with Obama in office and going from a tanking economy to 8 strait years of growth and prosperity. stop interjecting facts into a well thought out rant dammit!!!! Link to comment
Moiraine Posted February 3, 2018 Share Posted February 3, 2018 2 hours ago, methodical said: If these are the things that supposedly make Trump a good president you must have been ecstatic with Obama in office and going from a tanking economy to 8 strait years of growth and prosperity. WORST RECOVERY EVAR! Link to comment
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