The DOW Hits 40,000, as the Rich Get Richer Under Bidenomics
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- Опубліковано 17 тра 2024
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*“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”-Henry Ford*
Dow Jones up? Okay cool, my wages aren’t.
This president is the worst ever.
u gotta learn to use that bus pass mayn
Dow Jones is a scam anyways. It's 30 stocks. 30! Who cares about the DJIA. S&P 500 is at least ...500 stocks. 50 "Blue Chip" stocks held by mutual funds isn't anything.
The 𝘗𝘦𝘥𝘰tato.
Xiao Bi-DUNG, the Manchurian candidate.
Publix grocery posted 40 percent greater profits post pandemic. They would love to hear you placing the blame elsewhere. Hate is the oldest currency isn’t it.
The rich love Joe, and the poor prepare for an inevitable dynamic reset.
Many poor people voted for Joe don't know any better.
You vill own no sing und be happy
@@robertmanley2687welfare recipients will always vote democrat
Define "rich" because I consider myself somewhere in the upper middle class and I hate the guy!
@levioneill9677 If your grocery bill causes you to worry, that's what I mean, not just poverty level.
I couldn't tell you the number of apologists for the current admin that have told me "the economy is fine! Look at the stock market".
I tell them to go to their local dillons, buy groceries, fill up their car, and come back here to tell me how much the stock market mattered along the way.
Dow Jones Industrial Average is a scam stat. It doesn't mean anything. It is comprised of just 30 "Blue Chip" stocks. Companies that barely matter anymore. NASDAQ on the other hand is all the tech stuff, which is likely more notable. S&P 500 is far more of a market indicator than the DJIA.
Well if you invested in Costco and you shop there. You’re making money. That’s kinda how capitalism works. But if you don’t know how to game the system then yea you will be poor forever
Groceries cost less as a share of income than they did in 2019 according to the CBO. And the stock market matters a lot since most retirement accounts are linked to it
@@grimaffiliations3671
To base the health of the economy around factors that do not tell the whole story is nonsensical is the point I'm making.
Saying "economy is fine because the stock market is fine" is the absurdity I have experienced when I know of goods, products, and foods that have doubled in price over the past fifteen years when paychecks for the same jobs have not.
Pursuing higher pay went from doing so to buy more into doing so to buy the same amount of things they used to before. We are either in a gradual rat race to keep up with inflation, or knowingly cutting back on grocery spending because of it.
@@grimaffiliations3671 LOL...fake stats. Do you even know what the Dow Jones Industrial Average consists of? It is meaningless. 30 stocks.
It's easy to make money when inflation is high for businesses. They get record profits because they take advantage by gouging customers. Well above the rate of inflation.
Biden's making me stronger.
Now I can carry $150 worth of food at a time... .
😂 silver linings!
Contained in a single, individually wrapped starbust in my 5th pocket 😂😂😂
Classic pre-crash melt up.
Think SDS, SQQQ, DXD, SDOW
Exactly! A BIG crash is coming! It’s inevitable at this point.
This. Same thing happened in 08.
Were not there yet. It’s going way higher.
@wigletron2846, We don’t currently have the same conditions to repeat the real estate deleveraging of ‘08. Housing supply is in deficit and average time on market is just below 3 months. It’s was about 10 months during the worst of the GFC.
I fondly recall the left smugly reminding us that fluctuations of the stock market benefit the super rich and don't affect everyone else financially.
Eh even a broken clock strikes twice a day.
stock market isn't the economy, but they economy outside stocks is very strong too
the list of things the democrats said trump would do but they themselves
have done must be getting long.
The low wage poor during the Great Depression had more buying power than the low wage poor today, let that sink in.
Yeah, lots of things were better during the Depression than they are now.
The value of dollars in '64 and back were based on what they were made of, but after that it was replaced with fiat (valuable because the rulers say so).
'64 federal minimum wage in the old dollar (.834 oz of silver) is worth around $26/hr in modern dollars as of the time of this comment.
in '38, the minimum wage was $0.25 (or .18 oz of silver) which is worth about $5.70/hr now.
@shadetree2992, That’s because depressions are deflationary events and are (in many ways) the opposite of inflation. If we had a Depression next month suddenly houses, cars, stocks, and other assets would all be incredibly cheap compared to today.
source?
I just came back from the store. The prices were still extremely high.
Publix posted a 40 percent increase in profits post pandemic. Let that sink in.
I think most people miss the point, we pumped 2 trillion into the market and gdp only went up 3%... That isn't good, in fact that is pretty bad.
That is indeed really bad considering 2 trill is more than 3% of the GDP lol Where the f did the rest of it go? The gdp is about 27 trillion (roughly)
Who is this 'we' you speak of?
@@randacnam7321The tax payer
@@randacnam7321 You pay taxes don't you?
@@aaronburdon221 I imagine some of it is probably still floating around the ether waiting to be spent somewhere. The Inflation Reduction Act (I hate that I have to call it that) has provisions out to 2030.
In the DoW 40.000 there is only inflation
in the grim dark future there is only collapse
inflation raises all shores and sinks all ships.
It’s the opposite of 2008. Stocks crashed, ppl lost 50% of their investments but the inflation stayed relatively stable. So ppls net worth was cut by up to half! Now the investments are way up, but inflation is insane, thereby making everything twice as expensive. So you didn’t loose money, but that money only has half the buying power. That’s why my dad says the market is doing great! And I’m like, yes it is, but everything costs twice as much! So it’s like we all lost half our net worth, like 2008.
3.4% inflation aint insane lol and most od that is just rent
For every American taking two to three jobs just to make ends meet,
There are two to three homeless americans that couldnt make ends meet.
That’s what I told my husband when he feels real sad that we both have two jobs but we still have our modest house
It shouldn't be this way, never forget what (((they))) stole from you.
Most HS want to live that way. Ik it sounds crazy, but it's true. Billions are spent on trying to help them and nothing does. They don't want to live where they have to work and worry about Bill's. Tbey don't want to live in shelters that have rules to follow. 🤷🏻♀️
That's what it's all about.
"They want more for themselves and less for you".
"To those who have everything more will be given, to those who have nothing more will be taken"
Smoke & mirrors up by 50%.
My Brothers job has given employees the option to match their company stocks only up to $200 😅 Everything is being pumped just to save Bidens face 🧐
This is beginning to sound a lot like 1929 all over again with the stock market "booming" making it seem like people were making all kinds of money while in reality very little wealth was generated and most people had it pretty rough, until it all came down in one fell swoop and then everybody had it very rough very quickly...
People no longer know about the Crash and subsequent Depression.
@@monkeygraborange There's a reason very little money was minted between the years 1921 and 1929, despite what history books tell us, the 20s were not fun times for most.
@@monkeygraborangeNobody learns from the past, even as recent as 15 years ago.
@@monkeygraborange We're in for some dark days these coming years. 2020 was just the background arc.
1920’s: global pandemic, increased regional conflicts, soaring financial markets, Depression.
Eerie how history loves to rhyme.
It is not really "richer" if the money you made is Monopoly money and the ink is still wet on the $500 bills
Monopoly Money has a higher denomination than real Money….
yall have no idea what hyperinflation is
The amount of USD in circulation has tripled since 2010.
Funny how Gold almost exactly tripled in the same time frame ...
@robertsmith4681, Gold always accounts for the money supply. It might be delayed, but it’s inevitable.
The politicians in Washington DC are definitely benefiting from it.
Yes, remember the $100 million distributed in just 2 years by FTX founder before he went to jail.
As a retired person living off social security, pension and my investments, I keep telling people this. Obviously my liberal friends don't believe me. They think I'm rich and tight with my .money.
I recall about 20 years ago, an accountant telling my retired mother that her $45,000 pension was equivalent to someone having a million dollars. She actually lived quite well with no financial worries as she had her house paid off
I just retired and have $3 million in savings. With inflation, and the government grumbling about increasing capital gains on the rich people, and needing to transfer wealth to the young, I expect that I won't live half as well as my mother did on a third of what I have now.
@@johnsmithers8913buy land with a spring on it
Oh please. Give me a break
Silver is now over $31 an oz now as well.
Isn't gold like 2200 an ounce now?
@@aaronburdon221 More, it's over $2400
Yep fuck my life
@@rm1042 jesus. That's bad.
@@aaronburdon221 I guess if you're buying.
What we have right here is what I like to call a Potemkin economy.
It looks good on paper but in reality it's pure trash because of all the inflated currency.
And hollowed out industry.
DOW is up, but so is inflation.. So are all my bills, so are prices of everything.. My Wages aren't up...
Maybe this is the real price of everything and after living off credit for decades we're finding out that "minimum wages" "were a terrible idea which had a negative impact on wages overall, there is no point for employers to try to compete with other employers for the best employees by throwing more money at them if even the highly cocmpetent are overpriced compared to technology...
@@robertsmith4681this is the result of printing too much money. Items are always their real value, the problem is our money is being heavily devalued by too much being in circulation. Minimum wages definitely don't help. The bigger issue now is jobs leaving the country and illegals flooding the labor market keeping wages low.
Yet I get warning notices from my pension fund that it's critically underfunded.
Planes are falling out of the sky. Infrastructure is crumbling. People can't afford to eat ... but investors are cleaning up.
I foresee some very, very bad times ahead.
infrastructure is finally being addressed, people can afford to eat, and boeng being a lousy company wont cause bad times ahead
Amazon had to dump lots of workers to raise its stock price..
And to keep its prices to consumers lower...but I bought Amazon stock around 2017 so I'm biased
As the Venezuela economy was collapsing a few years back, their stock prices kept rising, their stock market actually crashed up due to money printing.
our economy is far from collapsing lol
The stock market isn't an indicator of the overall economy, quite often, they operate on entirely different principles.
"It's never been easier for millionaires to become billionaires, but it's never been more difficult for someone to make their first million."
I dont think ive looked at my 401K since Biden has been in office.
Lol I haven't either. I don't want to get depressed.
Same. Mine is not horrible, but it was much better 4 years ago.
It’s flat to down. During Trump, mine was up 30-40 percent.
It's a bubble. All bubbles eventually burst.
The correction is going to be a mess. Dow should be at 32,000 at best
I'd say 8000. It's so artificially fake and pumped up over the last 25 years
@@SalahP.Secondz it was 8,000 in the 80’s. Not that low. 28-30,000 is most reasonable
@chrischreative2245 nope dude I lived through the 80s..it was in the 2000s back then...late 90s is what you're thinking of when it was around 8000pts. Since then it's been one fake bubble after another pumping it up artificially (starting with dotcom bubble etc etc)
If only this affected my gas and grocery bill in a good way.
healthy wage growth affects those things
@@grimaffiliations3671 When my job was paying me 11 dollars an hour (four years ago) I was buying a month's worth of groceries, including splurging on treats and convenience meals, for $200.
I'm now making 18 dollars an hour and I spend $250 a week on just the absolute essentials. I don’t even drive a car anymore because gas and maintenance costs are too expensive.
True, haven't increased anything but haven't lost my mind yet, I think. Bidenomics is killing the American Dream.
Blow off top is coming followed by historic crash. Interesting times ahead
DOW was less than half of today's numbers when the 2007 crash went down. When the rubberband snaps back, it's going to be absolute lunacy.
my oil stocks are up 60% since Biden. I mean the price of everything is up like 60%, but oh well we have to find some reason to smile so we don't burst into tears. I also had to buy a tire the other day that cost $320. So there goes my 60% oil stonk money.
as wages go up companies get to charge more money
This cannot continue…
Who believes the price of anything will go down lol???? Get used to it.
i am seeing that 2008 crash all over again. NO ONE learned a damn thing just SPEND SPEND SPEND.......
The crash is gonna be catastrophic. It might even make the Great Depression look like times of plenty.
lol no
To the 95% of people it's the same shit whether DOW IS 30K OR 40K
You are correct. Once us little people try to put money into the stock market, it crashes. We can't win.
I save more money by watching my 2 kids and growing tomatoes and potatoes than i can working. How the F is that?
It's unsustainable
It's the pump before the dump
Eat your heart out, middle-class.
I’ve had some sick asset appreciation since 2021. All my crap combined is probably up nearly half a million.
I’m still not voting for Biden.
Whoopee! My retirement account is growing!
Oh, crap! My grocery bills are growing faster!
I'm sure Pelosi knew just which stocks to buy once again. Man she's really good at stocks
remember, the tax on short term gains absolutely fucks you. I thought I would buy $10,000 in stock so I could sit in daytrade because I thought it would be fun but all I did was create a tax bomb. Even when you think you're making lots of money, once you figure in the capital gains tax for short-term gains, there's no point unless you're doing it professionally. our Gov just Does not want us to have any money
I saw the 40K #. My mind honestly thought the market was reacting to the fact that Trump is so far ahead in the poles and the market knows that in 8 months we'll have a president who actually knows how to run an economy.
The stock market hasnt stopped going up since November 2016
All it feels like to me is that the Jenga tower just keeps getting taller and less stable.
Good point. But...gold is sitting right around 2400. Looking good for us "stupid gold investors". (Real gold BTW not stocks.)
It's crazy. My 401k has gone ballistic.
I remember the stock market doing really well right before the 08 recession
Some people working multiple jobs are homeless american citizens that would rather sleep in their vehicles than suffer government housing.
The market is a leading indicator and charging in a Trump victory in November.
Yes pre 2000 rent at the apartment was under 700 now it's closer to 1150.
Welp, there goes my Roth IRA account.
My Roth IRA is 100% in energy and commodities. I feel very good about where it will be by the end of this decade (can’t say the same for our economy or nation though).
My 401k is actually making some gains although it isn't much considering how much I have lost under Bidenomics. My 401k has lost well over 10k since Biden took office.
The DJIA is not a strong predictor of how the average person is doing, only how rich people are doing. Economic broadcasting needs to include a metric that shows how the bottom tier of the economy is doing. I'm just saying, there's a reason the CPI is only reported as a percentage change, rather than a raw number. Granted, the DJIA divisor is changed every time a component changes to keep it consistent.
Dowhammer 40k. In the grim darkness of the stock market.
The stock market soars on the back of workers losing their jobs making companies look more profitable.
DOW under Trump up until just before COVID (Jan 2017 to Feb 2020): Rose ~9,000 points from about 19,900 to 29,900 without massive government spending and with very little inflation
DOW under Biden so far (Jan 2021 to May 2024): Rose ~9,000 points from about 31,000 to 40,000 with massive government spending and record inflation
The stock market was pretty decent a week before the 2020 election as well
@@Shah-of-the-Shinebox Yes. But by that point COVID spending had been into full swing and interest rates were nearly zero.
Knock 20% off the value off that 40,000 points and that’s how much it has really risen with inflation.
One word: JUICE
Nice that the market is up, the dollar is strong, but man every time I go to the grocery store it's nearly twice what I used to pay. :(
not according to the numbers
It's only up due to inflation. Actual value is still down.
Joe and his tribe are Soooooooooooo for the people . . . .His people .
How much longer will people accept this theft and injustice?
The Cantillon Effect.
I pay 3 dollars for a gallon of gas
The clothes for my job has gotten MORE expensive under Biden than the mean tweets guy.
Market will cave by October...
The stock market broke loose at 24k with any semblance of a relation to the economy.
Wallstreet bets is back in action.
Dow historical high was on 9/3/1929, it's infamous crash was just in 7 wks or so from its high, on 10/24/1929 until 10/29/1929, historical low was in 1932. My point is worry about this artificially high Dow.
Great my IRA is up a lot this month, but I can't touch that money without heavy taxes and penalties until I'm 59.5 years old. I'm 37 and my salary has stayed the same for 2 years.
I think they were talking about taxing unrealized gains.
Inflationary meltup
The melt up
you see some of that new tech that they're working on to scan different rock Locations to see what types of rare metals may be underneath there? Curious that stuff really works
Most middle class people own stocks, if they're old enough. If you have a retirement fund, typically it's put in a mutual fund, such as an S & P 500 fund, where it will grow significantly. The S & P 500 has grown 85% in the last 5 years.
Yeah im right there with you. I keep job jumping for pay increases, in the past 4 years i havent stayed at a job longer than 8 months just because i use one job as a stepping stone to leverage more money at another job. Works great although i think now im at a place where i make 35$/hr and unless i move to a more expensive area im kinda topped out. Thats the goal though, my wife can stay at home and raise our daughter so mission accomplished as far as im concerned.
Inflation doing inflation things.
Inflation works on the stonks as well.
Predictably
Home values are rising - but demand has plummeted and people are starting to lose money on home sales when adjusted for inflation.
Also consider in Atlanta 13,000 hones are owned by just 3 corporations.
Home keep rising, value not so much ...
@@stevenaleshire7941 Wonder if any of them take their marching orders from the Chinese ....
I just put my house up for sale on Friday. I am going to try and cash out at the top and then I'll sit on it for a year or two when everything comes falling down.
Every single working person with a 401k puts money in the market every paycheck
Gold is at an all time high as well 2400+
Most stocks are held by private citizens
Through institutions such as BlackRock, Fidelity.
Few even gave the certificates anymore allowing the broker to use as collateral or lend for short sales
Obama had no magic wand,Donald J Trump had a huge magic wand and Bidens magic wand is the walking stick he uses when there are no cameras around. FJB and Let's Go Brandon.
McDonald's sales are down, because the usual (poor) customers can no longer afford it.
Luxury car brand sales are skyrocketing.
Rich are getting richer, poor are getting poorer.
The game of Monopoly ends, when one player ends up with all the money, and it becomes useless.
…or when the majority locked out of opportunity flip the board over.
Well, it’s been good for my retirement account, but I don’t know how much it offsets inflation.
I shoplift food... maybe
Inflation affects the market values just like anything else. If the dollar is worth 77% what it was in 2016 (according to CPI calculators), then 40,000 today would actually be more like 30,800.
Let's use end of 2020 as a basis. The dollar today is worth 83% of the dollar at the end of 2020. The DOW was 30200 at the end of 2020. The DOW at 40000 today is equivalent of the DOW at 33,200 on Jan 21, 2021 -- a 10% increase. This is the Biden economy.
In contrast, the DOW at the end of 2016 was 19825. The dollar at then of 2020 was worth 93% of the dollar at the end of 2016. The DOW at the end of 2020 was 30200, which would be like 28086 at the end of 2016 -- a 42% increase. This is the Trump economy.
QED
The market needs to fall drastically. It needs to correct asap. This is not a good thing