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(CNBC)   Biden's policies should drive stock market higher, likely allowing the Dow and S&P to magically transform into something relevant to everyday people   (cnbc.com) divider line
    More: Amusing, Vice President of the United States, Tax, Barack Obama, Joe Biden, Democratic Party, United States Senate, Corporate tax, John Kerry  
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994 clicks; posted to Business » and Politics » on 20 Jan 2021 at 2:50 PM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



96 Comments     (+0 »)
 
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2021-01-20 1:24:29 PM  
The Market is happy today.
 
2021-01-20 2:02:42 PM  
Jack Hylton - Happy Days Are Here Again (1930)
Youtube JW-0kbIcf1E
 
2021-01-20 2:50:55 PM  
Inflationary policies tend to drive the stock market higher due to the declining value of the dollar.
 
2021-01-20 2:51:42 PM  
The market isn't happy that it might be facing more regulation, but it's happy that some cheese wheels are no longer trying to overthrow the government for now.
 
2021-01-20 2:52:54 PM  
The stock market won't represent regular people until wages are high enough for your average American can afford to buy stocks.

As it stands right now, the stock market is just a mood ring for the 1%.
 
2021-01-20 2:53:15 PM  
Stocks are fiercely overvalued.  That's why all my money is going into Egyptian cotton.
 
kab
2021-01-20 2:53:31 PM  
Magically widening the gap between the haves and have nots, sure.

Oops, I keep forgetting how many people own fridges.
 
2021-01-20 2:53:41 PM  
I'm pretty sure it was Republicans pointing to the DOW and proclaiming happy times were here again.

I'd go find the relevant Trump tweet, but I don't feel like it. Please just take my word for it.
 
2021-01-20 2:55:04 PM  

Soup4Bonnie: Stocks are fiercely overvalued.  That's why all my money is going into Egyptian cotton.


Do you have a newsletter?
 
2021-01-20 2:55:43 PM  
Biden caused the market to hit record highs today!

Fark user imageView Full Size
 
2021-01-20 2:56:08 PM  

MattytheMouse: The market isn't happy that it might be facing more regulation, but it's happy that some cheese wheels are no longer trying to overthrow the government for now.


Yep. One thing the market loves more than anything else is stability.

And the past 4 years have been anything besides that.
 
2021-01-20 2:56:19 PM  
i.imgflip.comView Full Size
 
2021-01-20 2:56:30 PM  
BiTcOiN nOw
 
2021-01-20 2:56:33 PM  

vikingfan73: Inflationary policies tend to drive the stock market higher due to the declining value of the dollar.


Money printer go brrrrr for the foreseeable future.
 
2021-01-20 2:57:13 PM  

Soup4Bonnie: Stocks are fiercely overvalued.  That's why all my money is going into Egyptian cotton.


I'm making a deal with the Germans to bomb their own airfields in exchange for silk.
 
2021-01-20 2:58:11 PM  

vikingfan73: Inflationary policies tend to drive the stock market higher due to the declining value of the dollar.


Let me guess, you had no issues with that the past four years huh?
 
2021-01-20 2:59:10 PM  
pbs.twimg.comView Full Size
 
2021-01-20 2:59:45 PM  
Fark user imageView Full Size
 
2021-01-20 3:00:07 PM  
My electric car battery company stock shot up 27% so far today.  Thanks, Joe!
 
2021-01-20 3:00:15 PM  
Again, I don't care about what happens with the stock market, whether it's under a Democratic or white supremacist President.  I care about wages, quality of living, people receiving healthcare, etc.  I expect them to go up during Biden's presidency...but won't be too disappointed if that doesn't happen.
 
2021-01-20 3:01:15 PM  

Mrtraveler01: MattytheMouse: The market isn't happy that it might be facing more regulation, but it's happy that some cheese wheels are no longer trying to overthrow the government for now.

Yep. One thing the market loves more than anything else is stability.

And the past 4 years have been anything besides that.


Stability and perpetual revenue.
 
2021-01-20 3:02:20 PM  

vikingfan73: Inflationary policies tend to drive the stock market higher due to the declining value of the dollar.


You know what else drives up the view of the stock market?

Giving companies trillions of dollars that they immediately funneled into stock buyback programs.
 
2021-01-20 3:02:33 PM  
I missed the official inauguration thread.

I completed the meme that we have been living the last 4 years:
Fark user imageView Full Size
 
2021-01-20 3:03:34 PM  

Tr0mBoNe: vikingfan73: Inflationary policies tend to drive the stock market higher due to the declining value of the dollar.

Money printer go brrrrr for the foreseeable future.


Which inflates asset prices even more, creating a bigger divide between the rich and poor.

I really wish JPow could actually admit that during the FOMC meetings. But whatever. Buy assets. At least they will nominally go up.
 
2021-01-20 3:04:02 PM  
Hahahahaha.  Yeah. Relevant. 100% with you there subby.
 
2021-01-20 3:04:54 PM  
i.imgflip.comView Full Size
 
2021-01-20 3:07:35 PM  
While a relatively small share of American families (14%) are directly invested in individual stocks, a majority (52%) have some level of investment in the market. Most of this comes in the form of retirement accounts such as 401(k)s.
https://www.pewresearch.org/fact-tank​/​2020/03/25/more-than-half-of-u-s-house​holds-have-some-investment-in-the-stoc​k-market/
Most Americans DO own stock subby. Many working class Americans have their retirements invested in stock.

(I don't know why but I imagine someone will for some reason get angry about me pointing this out.)
 
2021-01-20 3:07:37 PM  
Down with Donald, up the stonks!
 
2021-01-20 3:09:39 PM  

vikingfan73: Inflationary policies tend to drive the stock market higher due to the declining value of the dollar.


You think that's bad? You should see how many loaves of bread a single Bitcoin can buy. The deflation of currency is destroying civilization as we know it.
 
2021-01-20 3:11:55 PM  
I was assured by Trumpkins that the market would crash once Biden was inaugurated.
 
2021-01-20 3:17:50 PM  

Corvus: Most Americans DO own stock subby. Many working class Americans have their retirements invested in stock.


Thank you. You saved me some typing.

There was a period between February and May that I didn't bother looking at any of my 401(K) apps because of the change in "percentage year to date".
 
2021-01-20 3:19:13 PM  

Corvus: While a relatively small share of American families (14%) are directly invested in individual stocks, a majority (52%) have some level of investment in the market. Most of this comes in the form of retirement accounts such as 401(k)s.
https://www.pewresearch.org/fact-tank/​2020/03/25/more-than-half-of-u-s-house​holds-have-some-investment-in-the-stoc​k-market/
Most Americans DO own stock subby. Many working class Americans have their retirements invested in stock.

(I don't know why but I imagine someone will for some reason get angry about me pointing this out.)


Meh, they are invested in 401ks. That is a different kind of planning than owning shares. They don't choose what they own, they don't have access to dividends, they don't get to choose who the 401k uses shares to vote, etc. 401ks are used as political pressures differently than shares, for exmaple, a 401k owner i threatened by politicans all the time, whereas shareholders are praised and supported by politicians.

I'm not angry but I am tired by the "401k is investment" crowd because it is a threat. Nobody asks 401k holders for advice or leadership. They are always told to capitulate, or trust and follow.
 
2021-01-20 3:22:40 PM  
The fact that most Americans need to hope that the stock market goes up in order to retire is fundamentally wrong.  We're throwing all our old-age money at a roulette table.
 
2021-01-20 3:25:14 PM  

Corvus: While a relatively small share of American families (14%) are directly invested in individual stocks, a majority (52%) have some level of investment in the market. Most of this comes in the form of retirement accounts such as 401(k)s.
https://www.pewresearch.org/fact-tank/​2020/03/25/more-than-half-of-u-s-house​holds-have-some-investment-in-the-stoc​k-market/
Most Americans DO own stock subby. Many working class Americans have their retirements invested in stock.

(I don't know why but I imagine someone will for some reason get angry about me pointing this out.)


True.  But weight that razor-thin majority by amount invested, and you see why people "get angry" when pro-shareholder policies are pitched as populist despite the harm outweighing the benefits for all but a tiny few at the top.
 
2021-01-20 3:29:21 PM  
If we were tying the stock market to the "main street" economy, it would be sinking like a stone.

Be glad the two are disconnected, or the middle class would be suffering just as much as the working class. At least in the short term the former are getting by well enough to keep up the donations to the food banks for the latter.
 
2021-01-20 3:36:23 PM  
i.imgflip.comView Full Size
i.imgflip.comView Full Size
 
2021-01-20 3:38:58 PM  
So when do we start taxing Wall Street transactions?
 
2021-01-20 3:41:36 PM  

edmo: The Market is happy today.


I'm still hearing grumblings of investbros talking about when to pull out because the market-freakout is *definitely* coming.

I'm not sure it's gonna happen this time, but I can see how the tradition might still win out in the end.
 
2021-01-20 3:42:32 PM  

edmo: The Market is happy today.


My portfolio is only up 0.55%*, so where's the happy?
 
2021-01-20 3:44:05 PM  

Corvus: While a relatively small share of American families (14%) are directly invested in individual stocks, a majority (52%) have some level of investment in the market. Most of this comes in the form of retirement accounts such as 401(k)s.
https://www.pewresearch.org/fact-tank/​2020/03/25/more-than-half-of-u-s-house​holds-have-some-investment-in-the-stoc​k-market/
Most Americans DO own stock subby. Many working class Americans have their retirements invested in stock.

(I don't know why but I imagine someone will for some reason get angry about me pointing this out.)


Don't forget what pension funds are used for also.
 
2021-01-20 3:53:49 PM  

BeesNuts: edmo: The Market is happy today.

I'm still hearing grumblings of investbros talking about when to pull out because the market-freakout is *definitely* coming.

I'm not sure it's gonna happen this time, but I can see how the tradition might still win out in the end.


Let em, it makes my VXX calls even more erect.
 
2021-01-20 4:05:07 PM  

natazha: edmo: The Market is happy today.

My portfolio is only up 0.55%*, so where's the happy?


Must be all the wrong stocks in your profile bro. At least you're up. I'm essentially even.

Heck, my 100 penny stock shares in a Canadian weed company is down. People need weed! Jeesh

/high roller
 
2021-01-20 4:07:22 PM  
We should really have a flow chart for whether or not the stock market is an accurate reflection of the overall economy. If I like the president and the market is up, then yes. If I like the president and the market is down, then no. If I hate the president and the market is up, then no. If I hate the president and the market is down, then yes. It's as predictable as everything else on the politics tab.
 
2021-01-20 4:10:15 PM  

edmo: The Market is happy today.


the market has been happy for a very long time.  it isn't really connected to the real economy anymore, so it would stand to reason why its been so happy.
 
2021-01-20 4:11:00 PM  

vikingfan73: Inflationary policies tend to drive the stock market higher due to the declining value of the dollar.


the dollar has been declining for 40 years, Sherlock.
 
2021-01-20 4:12:54 PM  

MattytheMouse: The market isn't happy that it might be facing more regulation, but it's happy that some cheese wheels are no longer trying to overthrow the government for now.


the market doesn't have to worry about any real regulation. courtesy of those in Legislative jobs having worked prior in the same industries being "regulated".
 
2021-01-20 4:14:14 PM  

natazha: edmo: The Market is happy today.

My portfolio is only up 0.55%*, so where's the happy?


0.55% doesn't mean anything unless there is a time frame.

0.55% up in the last hour is doing great.
 
2021-01-20 4:15:03 PM  

austerity101: So when do we start taxing Wall Street transactions?


Never

the folks on Capital [sic] Hill know who their daddies are.
 
2021-01-20 4:19:16 PM  

Shaggy_C: If we were tying the stock market to the "main street" economy, it would be sinking like a stone.

Be glad the two are disconnected, or the middle class would be suffering just as much as the working class. At least in the short term the former are getting by well enough to keep up the donations to the food banks for the latter.


the stock market is propped up by the Fed and other government "assistance"
 
2021-01-20 4:20:58 PM  
So, Trump is going to take credit because they were on the rise as he was going out the door.  So this has nothing to do with Biden.
 
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