Also how did you trade the election…???
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I traded it by not trading.
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We should have confidence that only US citizens are voting, they are only voting once, and votes are counted timely, I see none of that in the states still counting
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And do you??
Cheers
Blackduck
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For a sitting president of the USA to infer that the voting is rigged in his challenger’s favour is despicable. Doesn’t Trump have any moral behaviour?
I’m hoping to see him lose, then dragged out of the White House by marines and dispatched to a mental asylum.
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He has more morals than the goose that looks like being elected and the party he represents.
Truly the performance of the Democrats over the last four years has been reprehensible. Fake Russian dossier. Impeachment over a phone call suggesting that Trump was witholding funds to Ukraine until he got a favour from the Ukrainian PM IE quid pro quo when Biden had done exactly that and admitted it. Not to mention the horrendous treatment of Brett Kavanaugh and his nomination to the supreme court.
Then there is the radical agenda of the likes of bat ■■■■ crazy Democrats like Bernie Sanders Alexandra Ocasio Cortez Ihan Omar Ayarnan Pressley Rashida Tliab. These crazys want free everything open borders legalised drugs no police.
I cannot understand how any sane person with some level of common sense could seriously believe that these idiots are capable of running the largest economy in the world.
Besides Biden has been in office for 40 + years and did nothing then. What makes you think this time round will be any different??
Cheers
Blackduck
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Yeah, I’m with you there. Seems like no suitable alternative, though. Like many country leaders.
But I’m not into politics on this site, and avoided USD in trades this week and next until a degree of sanity returns.
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Fully understand. I am a political junkie and have watch world politics for a long time.
When you look at Trumps record on the economy prior to COVID 19 it was impeccable. Lowest unemployment for 69 years wage growth at 3.5% GDP at close to 4%. Lowest level of black and hispanic employment. No wars 3 peace deals in the middle east and finally a president that stood up to the communist regime of China.
Will still haven’t learnt the full extent of the Hunter Biden dealings with China and how Joe Biden is linked. Biden will sell the USA out to china.
Don’t you think it is suspicious that twelve months ago USA had China on the ropes economically and all of a sudden a virus comes out of China that successful destroys all the good work Trump did and now he is out of office. I’d say job done! China won!
You cannot have a communist country hell bent on world domination both economically politically and military as the largest dominate country in the world.
The only saving grace for the USA is that the Democrats lost ground in the house of representatives and won’t control the Senate.
Cheers
Blackduck
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I have just posted this important post in the "political Opinin thread and I write here to record it as it is equally relevant here
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Who the ■■■■ cares? Just more of the same… statuesque. If you follow politics expecting one candidate or another to enact some kind of real change in the US system, society or culture you are fooling your self and are just as stupid as they want you to be…
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I wouldn’t say it was impeccable. Trump had the advantage during the start of his term of an economy that was already trending upward.
This is in contrast to the Obama administration, which had to deal with the Great Financial Crisis (GFC) or the Bush W. administration, which had to deal with the Dotcom Bubble Crash and 9/11. Unfortunately, for Trump, a crisis occurred near the end of his term versus the beginning.
People tend to forget about the GFC. The economy was experiencing what former Federal Reserve Chairman Ben Bernanke called “the worst financial crisis in global history, including the Great Depression.” In the last quarter of 2008, real GDP plummeted 8.4 percent and the economy hemorrhaged more than 1.9 million jobs.
Trump’s numbers are good, some really good, but they’re not the “greatest” like he loves to boast. There have been periods during other presidents when it was much stronger.
Job Gains
The United States experienced some of its best years of job gains in 2014 and 2015 in Obama’s second term when the economy added more than 225,000 jobs a month. Employment continued to be strong under Trump — until the pandemic hit. Average monthly job gains under Trump peaked at 193,000 in 2018.
Prior to the pandemic, President Trump claims to have delivered the lowest unemployment rate in half a century.
This is true. In February this year, the rate stood at 3.5%, the lowest for more than 50 years.
However, the Obama administration added more jobs to the economy, comparing similar time-frames.
Under Trump, in the three years prior to the pandemic, there were an additional 6.4 million jobs. In the last three years under Obama, 7 million jobs were added.
Economic Growth
Trump says he had the “greatest economy in history” during the GOP convention but it’s not true.
The economy grew just shy of 1 percent in Obama’s first term when the GFC took its toll. Growth improved to 2.3 percent in Obama’s second term. Under Trump, the economy is on track to average slightly above zero in his first term because of the sharp losses from the pandemic.
Excluding 2020, growth in Trump’s initial three years in office was 2.5 percent — slightly above Obama and well below the growth under the Clinton, Reagan and Johnson administrations.
Unemployment
The U.S. unemployment rate hit a half-century low of 3.5 percent in late 2019 and stayed around that level through February 2020. Trump frequently touted the job news, though he often left out that the unemployment rate was a fairly low when he took office (4.7 percent) and has been steadily declining since 2011.
Black Unemployment Rate
A key part of Trump’s argument is the Black unemployment rate, which hit the lowest level ever recorded — 5.4 percent — in August 2019. When Trump took office, Black unemployment was 7.5 percent. But as you can see, it was already trending downward for years. Many of the job gains under Trump did go to Black and Hispanic workers, especially women.
Poverty Rate
President Trump claimed in 2019 that he had delivered “the largest poverty reduction under any president in history”.
In 2019, around 4.2 million fewer people were living in poverty in the US compared with the previous year, according to official data.
This is a significant drop, but not the largest reduction in history.
The US Census Bureau has published this poverty data since the end of the 1950s. The largest fall in a single year was in 1966 during the administration of President Lyndon B Johnson, when almost 4.7 million people were lifted out of poverty.
The GFC and subsequent economic downturn saw sharp rises in poverty, which only began to decline from around 2015 during the Obama administration, with a growing economy and rising levels of employment.
Stock Market
If you run the numbers of the stock market close to measure market performance from Inauguration Day through Election Day for the first terms of both Trump and Obama.
Trump’s tenure was certainly a good stretch for investors: The S&P 500 index rose 45.7% over that time, for an annualized return of 10.5% a year.
But that still doesn’t come close to matching the gains seen under Barack Obama. During Obama’s first term, the S&P was up 77.4% for an annualized total return of 16.3%.
Here’s a look at average S&P 500 annual returns under the previous six U.S. presidents:
- Jimmy Carter: 6.8%
- Ronald Reagan: 9.8%
- George H.W. Bush: 12.8%
- Bill Clinton:: 15.8%
- George W. Bush:: -2.4%
- Barack Obama : 12.4%
- Donald Trump 11.8%
In his first four years in office, S&P 500 returns under Trump have been right in the middle of the pack compared to the previous six presidents.
Overall, stock market returns were highest under Clinton and H.W. Bush. Stock market returns were lowest during the second Bush presidency and the Carter administration.
Bottom Line
Trump claims credit for the strong economy, saying that he inherited a “disaster” from Obama and that he “accomplished an economic turnaround of historic proportions.”
However, the truth is that by the time he became president, the economy largely had recovered from the
GFC and was nearing full strength.
It is clear that Trump inherited a strong economy that was still trending upward when he entered
office. Those trends continued…until the pandemic hit.
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I’m guessing that you got these statistics from CNN or Bloomberg or MSNBC. Correct??
Blackduck
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Oh sorry @TradingPanda my mistake the crediable publication the Washington Post.
Speaks volumes.
Blackduck
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More than half of voters feel the exact opposite of you… all that common sense going around and not going around. Two different worlds, two different truths. No answers for you on how to bridge the gap.
This is inevitable. States with marijuana on the ballot.
Arizona, Mississippi, Montana, New Jersey, and South Dakota all passed measures to legalize cannabis. South Dakota became the first state to legalize both recreational and medicinal marijuana. Last I looked, the Dakotas were red. Reform at the federal level will come in time. Politicians can only say no for so long.
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Seriously you only need to watch the news and the endless coverage of congressional and senate hearings to see the pathetic behaviour of the Democrats. All this does is reinforce the fact that there is at least half of the American population that actually agree with thuggish behaviour.
This also reinforces that old saying of “The most Common thing about Common Sense is very few people have got it.”
So many people see just the headlines of the leftist rags and believe the garbage they write. If you take the time to read and THINK LOGICALLY then it is obvious to any sane person that the Democrats are incompetent thugs.
People should read and take notice of excellent free thinking and smart authors like Jordon Petersen, Douglas Murray, Candice Owen, Katie Hopkins.
With regards to legalising drugs.This is a slippery slope to a more psychotic drug dependent society. It is well documented that drugs have a serious affect on the mental health of drug users and that cannot be good for society and the economy.
Cheers
Blackduck
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All of this data are from formal data sources like Bureau of Labor Statistics, Bureau of Economic Analysis, and U.S. Census Bureau, NOT from WaPo.
Some of the charts are visually built by WaPo, but you could take the same exact datasets yourself, import them into Excel, and you’d come up with the same charts.
You may not like what you see, but the empirical evidence is clear.
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The issue I have is that I don’t like what I hear from media hacks and bureau of statistics because most of the time these reports and figures are fudged to suit a political agenda.
As a futures trader I have many contacts in the USA that I speak to almost everyday. I have traveled extensively over the last 5-6 years and during that time I have spoken about politics to many American’s. Some of those people that I have met in my travels are now friends who I continue to communicate with to this day. Most of these people said that Obarma was the worst President America has had and in fact some of them got very angry with me at the very mention of Barack Obarma.
The vast majority of those people say they were far better off under Donald Trump. The farmers I know who are cattle farmers and wheat farmers say that under Trump they have been better off. Only ONE person I have spoken to said they thought Obarma Care was a great idea.
So it is the people who I have spoken to and what I have seen that allows me to make the comments I have made.
I don’t trust the media as most of the media have an agenda. Even our own Bureau Of Statistics was recently been caught out fudging figures to make climate change look worse than it really is and exaggerating the impact of this years bush fires in comparison to previous years again to further it’s agenda on climate change.
I guess I am not going to convince you to change your opinion and I can assure you that I believe that what you have put up is not going to convince me to change my opinion.
Blackduck
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