On the rare occasion some idiotic Obama lover engages with me about the economy, without exception, they point to the stock market as proof that Obama fixed our economy. From that point, with difficulty, one has to judge how much the Obama supporter actually knows about the stock market. (Usually they know very little.)
Typically, I start by telling them the stock markets always go up after bottoming out, as witnessed by our previous recession (minor)recovery. But, is it true? Is our stock market really some much better than what it was in the past?
Well, let’s go to our biggest stock market, the NYSE. In fact, let’s go directly to the NYSE site!
As we can see, the week of Oct 26, 2007 is slightly hirer than it is today. Indeed, the NYSE has never got much more higher than it was a little more than 8 years ago.
Now, adjust for inflation …… now adjust for the Fed’s QE …….. now adjust for the ZIRP (the Fed’s zero interest rate). Yeh, Zero sure fixed the stock market. It holds less value today than it did nearly a decade ago, and that’s after being artificially pumped up by the Federal reserve (supposedly independent of Federal government).
Right now, the only question I have is if Zero can get out of office before it crashes again. It’s due.