General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsYesterday, CNN was gloating about how much the Stock Market was going up
because the Thugs took over Congress. Well, it just went up by a few points to my recollection, and is doing about the same today. So much for that lying meme.
unblock
(52,317 posts)from clinton to today, the dow has what, more than quintupled? and probably about 120% of those gains were under democratic presidents.
the market rallies when republicans win election because the people with money are happy, not because it's a better investment.
Politicalboi
(15,189 posts)And we'll see where this is really going.
Xyzse
(8,217 posts)So we are buoyed by the spending, until we find out in January that consumers didn't spend as much as they wanted to.
oldandhappy
(6,719 posts)So if the worlds most loved investment is down -- ??
onenote
(42,759 posts)Not always, but often. The drop in gold prices probably reflects a combination of factors, primarily the fact that stocks are up and also a correction to gold prices getting too high (markets do tend to "correct" -- I suspect we will see a correction in the stock market from its current surge in the not too distant future, but if the pattern of the past few years holds, the correction will go too far in the other direction and will turn around. Which is why I always chuckle when I see people write about the market being in a "free fall" -- that rarely is the case.
gratuitous
(82,849 posts)Happy days are here again, right CNN?
Here's a fun little bit of information on the stock market closing numbers for some randomly selected dates:
Jan. 22, 2001: 10,578.24
Nov. 07, 2006: 12,156.77 An increase of 14.9% over nearly six years
Jan. 20, 2009: 7,949.09
Nov. 05, 2014: 17,484.53 An increase of 120% over nearly six years
By the way, take a look at the difference between the 2006 and 2009 numbers, and remind yourself once again who was the MBA Republican occupying the Oval Office.
Vinca
(50,303 posts)people realized they'd better make their money while they can before the GOP tanks the economy again. Hello 2008.
MoonRiver
(36,926 posts)CNN was predicting a massive gain on 11/5.
hfojvt
(37,573 posts)but then again, much of this was expected for quite some time the media has been predicting it.
Also, "the market" is mostly people in the top 5% and so why wouldn't they be happy with a Republican win?
MoonRiver
(36,926 posts)Jobs numbers, corporate profits, geopolitical crises etc. are market movers. Not a bunch of tea bag loonies.
Dawson Leery
(19,348 posts)belzabubba333
(1,237 posts)MoonRiver
(36,926 posts)wins.
onenote
(42,759 posts)Which is consistent with the fact that no matter how the election comes out, historically the market does well in the six months following mid-term elections.
Over the past 60 years, the best results for the calendar year following a mid-term are (i) when the President is a Democrat and both houses of Congress are controlled by repubs or (ii) when the President is a Republican and both houses are controlled by the republicans (up 15 percent). The next best results are when (i) the President is a Democrat and the houses are split between the parties (up 13 percent) and (ii) when the President is a Democrat and both houses are controlled by Democrats (9.8 percent). The worst results (but still positive) are (i) when there is a repub president and the Democrats control both houses (4.9 percent) and (ii) when the president is a republican and the houses are split (3.5 percent).
The significance of these figures is pretty hypothetical given the relatively small sample size and the fact that many other factors could be impacting market performance. If you go back to 1901 and look at the same combinations, the best results are (i) Democratic President/Split Congress (13 percent); (ii) Democratic President/repubs control both houses (8.6); (iii) Democratic president/Democrats control both houses (8.4); (iv) Repub president/Repubs control both houses (6.4); (v) Repub President/Democrats control both houses (4.9); and (vi) Repub president/split congress (3.2 percent).
Again, I don't think these numbers really prove a hell of a lot.