Drudge Retort: The Other Side of the News
Friday, December 15, 2017

The election night selloff turned out to be a huge buying opportunity. Companies had been sitting on cash -- not investing or hiring. ObamaCare compliance was a nightmare for many business owners. It made them wonder what other big idea from Washington would haunt them in the future. Mrs. Clinton was likely to increase business costs further, while Mr. Trump had vowed to reduce them. Even in the middle of the election-night market panic, the implications for corporate revenue and earnings growth seemed obvious.

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The next morning, with the Trump victory confirmed, I told my colleague Martha MacCallum that I would be "buying the stock market with both hands." Investors began doing the same. U.S. markets have added $6 trillion in value since the election, with investors around the world wanting in on America's new growth story. The Federal Reserve Bank of Atlanta is now forecasting the third straight quarter of U.S. gross domestic product growth around 3%.

It's not just an American growth story. For the first time in a long time the world is experiencing synchronized growth, which is why Goldman Sachs and Barclays among others have recently predicted 4% global growth in 2018. The entire world benefits when its largest economy is healthy, and the vibrancy overseas is reinforcing the U.S. resurgence.

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Wow, that title got butchered. Sorry in advance.

#1 | Posted by Avigdore at 2017-12-15 10:28 AM | Reply

Obama was so hard on the stock market the S&P 500 rose 233.71% during his presidency, the second highest ever behind only FDR's 300.95%.

#2 | Posted by rcade at 2017-12-15 10:53 AM | Reply | Newsworthy 2

Bubbles pop. Get ready folks and prepare to hear the ridiculous attempts to blame it on Obama. Michelle for President!

#3 | Posted by danni at 2017-12-15 10:55 AM | Reply

I see, so now that the president is a republican the stock market value matters again.

#4 | Posted by schmanch at 2017-12-15 11:16 AM | Reply | Newsworthy 2

I see, so now that the president is a republican the stock market value matters again.

#4

Yes, and job numbers, derived from the same formulas are no longer "phony" and "fake news".

--------- are such ignorant, self serving ass hats. Comrad Avigdore, lookin at you.

#5 | Posted by oldwhiskeysour at 2017-12-15 12:04 PM | Reply | Newsworthy 1

America's Inequality Machine Is Sending the Dow Soaring

The Great Recession is a speck in the rear-view mirror for America's financial markets. They've advanced far beyond pre-crisis levels. In fact, Goldman Sachs says you can go back a century before 2008, and still not find a "bull market in everything" like today's.

If the real economy had roared back the same way, Donald Trump might not be president. Instead, it's been a grind. While unemployment is near a two-decade low, wages have grown slowly by past standards. They're nowhere near keeping pace with the asset-price surge.

Elected on a promise of better jobs and pay, Trump is about to pull the most powerful lever any government has for firing up the economy: fiscal policy. By slashing taxes on corporate profits, its authors say, the Republican plan will unleash the animal spirits of American business -- and everyone will benefit.

A rising tide does lift all boats -- but nowadays, in the U.S., not equally. Under both parties, recoveries have become increasingly lopsided. The current one has helped millions of people find work; it's also benefited asset-owners far more than people who trade their labor for a paycheck. Income distribution, already the most unequal in the developed world, is getting worse. And that's starting to influence everything from America's spending habits to its elections.

www.bloomberg.com

#6 | Posted by BruceBanner at 2017-12-15 12:17 PM | Reply

I will post #6 separately. It is a good topic.

#7 | Posted by BruceBanner at 2017-12-15 12:17 PM | Reply

"Wow, that title got butchered. Sorry in advance."

Got butchered or just stupidly written?

#8 | Posted by danni at 2017-12-15 12:20 PM | Reply | Funny: 2

Donald J. Trump‏ @realDonaldTrump

Many people have commented that my fragrance, "Success" is the best scent & lasts the longest. Try it & let me know what you think!
8:06 AM - 27 Feb 2013

#9 | Posted by Gal_Tuesday at 2017-12-15 12:25 PM | Reply

"Wow, that title got butchered. Sorry in advance."

Avigdore, I double dog dare you to open this graph and comment oh the rediculosity of your Trumpa$$kissing Headline.

www.facebook.com

#10 | Posted by oldwhiskeysour at 2017-12-15 12:42 PM | Reply | Newsworthy 1

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trump: fake president
the dow: fake measure of market growth

#11 | Posted by IndianaJones at 2017-12-15 01:07 PM | Reply | Newsworthy 1

2 The markets are your measure or Obama? If so you must give credit to QE and making banks TBTF. Get your OWS hat on and explain all 3 would you please race?

A true measure of economic recovery is GDP. Obama's GDP recovery was the WORST one ever recorded after a recession!!!

#12 | Posted by DavetheWave at 2017-12-15 07:11 PM | Reply | Funny: 1

Deadweave,
The thread is about Comrade Avigdore tap dancing about Trump's super dooper market. I responded to that.

Perhaps you noticed, he took a powder rather than engage. The entire world suffered very slow growth after the crash. Which country showed best recovery? Why that would be The USA under President Obama.

#13 | Posted by oldwhiskeysour at 2017-12-15 09:59 PM | Reply | Newsworthy 1

"U.S. markets have added $6 trillion in value"

Because of what? If the tax cut is $1.5 Trillion, isn't $6 Trillion a bit...overvaluing?

#14 | Posted by Danforth at 2017-12-15 10:03 PM | Reply

Avigdore, I double dog dare you to open this graph and comment oh the rediculosity of your Trumpa$$kissing Headline.
#10 | Posted by oldwhiskeysour at 2017-12-15 12:42 PM

I've never disparaged President Obama's actions bring the country out of the depths of the recession.
That doesn't change the fact that the markets have had a major upsurge sparked by the revelation that Trump was elected President.
The title of the article is 'Dow 24000 and the Trump Boom'. You'll need to target your ass kissing statement at them. I usually just use the actual article title, except when RCade stated that Trump wasn't his president. So I usually replace 'Trump' with 'America's President Trump' to twist his refusal of reality a bit and I forgot to remove the 'the'.

Ok, now that I have accepted your double dog dare, and shown that I can see where good things have resulted from either administration, why don't you give a statement on how you think the market has behaved since President Trump was elected?

#15 | Posted by Avigdore at 2017-12-16 10:13 AM | Reply | Funny: 1

I remember (fondly) how broken-hearted liberals cried out in the afterglow of the general election how the stock markets would crash upon our President, Donald J Trump, taking office.

Seems like those liberals were wrong.

#16 | Posted by GOnoles92 at 2017-12-16 10:25 AM | Reply

#16

Unlike Donald Trump, we are not gods.

#17 | Posted by Zed at 2017-12-16 10:35 AM | Reply

But tell me, how much did we get wrong about Donald generally? Because, you know, he's just the bucket of crap we knew he was.

#18 | Posted by Zed at 2017-12-16 10:37 AM | Reply | Newsworthy 1

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