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S&P 500 closes above 2,000 for the first time in history.

Posted: Aug 26, 2014

Stocks moving to all time highs. Companies are doing great, economy looking up.

Time for our representatives in Congress to get busy raising the minimum wage and sharing the wealth with the workers that make these companies very, very rich.

;

Federal reserve determines this......not a - President..... sm

[ In Reply To ..]
for those that think the federal reserve is part of our government, it is not a government agency. It is a private entity unto itself, which is why it needs to be done away with. Most need to learn Economy 101

Wow! "Most need to learn Economy 101." - sm

[ In Reply To ..]
You said: "Federal reserve determines this......not a President......for those that think the federal reserve is part of our government, it is not a government agency. It is a private entity unto itself, which is why it needs to be done away with. Most need to learn Economy 101"

In what alternate universe are you living in where the Federal Reserve Bank is the only determining factor in the performance of the 500 stocks on Standard & Poor's stock market index from the NYSE and NASDAQ that is a bellwether for the U.S. economy? Sure, the Fed keeps the interest rates low, and this helps, but there are far more determining factors that go into the performance of stocks. If the performance of the economy was poor, you'd surely be blaming the POTUS for it, but let the market hit new highs and you credit/blame the Fed. It's as if you guys aren't happy unless the country is failing along with the markets so you can play the blame game.

Please explain your version of Economy 101 and include an explanation for the reasons that a president who gets all the blame for a bad economy should not get at least some credit for signs of a good economy. If you'd like to learn a little bit of what the S&P is in the real universe and what the 2,000 milestone means to the economy, please follow the link below.

Wow back - Poster was right. A president does NOT determine S&P500 - You need to learn economy 101

[ In Reply To ..]
Take your own advice.

Your information is not correct. - sm

[ In Reply To ..]
The regional Federal Reserve Banks are privately owned, but those banks are controlled by the Board of Governors. The Board of Governors is the federal agency that sets monetary policy, and the Federal Reserve Banks then execute that policy. The Board is appointed by the President of the United States and confirmed by the Senate (12 USCA §241). The Board determines open market policies, sets the required reserve ratio for member banks, sets the Discount Rate, and monitors the health of the U.S. economy. The Board reports to Congress periodically on the state of the U.S. economy.

All the key monetary policy decisions that affect interest rates are made by a government agency whose members are selected by the President of the United States. The Fed may be privately owned, but it is controlled by the government.

It would be more accurate to describe the Federal Reserve System as a quasi-government agency since it contains elements of both the private sector and of government control.

Economy 101..... and the actual truth.

Your information is not correct - sm

[ In Reply To ..]
The president does not determine the S&P going up or down. That is determined by the federal reserve.

He does not control the S&P each day.

Just like when the S&P was at it's all time lowest we were told here the president does not control the market.

Can't have it both ways.

How desperate and sad. - sm

[ In Reply To ..]
You're posting things I didn't say and telling me they're incorrect.

The federal reserve sets interest rates; they don't set the stock market prices of the 500 different companies on the S&P 500 index. The free market and investors buying and selling stocks do, and that movement reflects an improving economy. It's sad that the economy improving is not good news to the vocal minority and that they're not happy unless economic indicators are down. I guess all this rooting for Obama's failure isn't panning out by the looks of the market indicators lately, but take heart; the Fed should ease up soon and interest rates will probably creep up maybe a 1/2 percentage point, and then you and your ilk can blame Obama for it. These things rise and fall all the time. My point was that TODAY the S&P closed for the first time ever at over 2,000..... and it did.

This political chat board was not in existence when the S&P hit its all-time "lowest" so the scenario you describe there is quite impossible. You can continue to appear obtuse about market indicators by posting further impossible nonsense and things that I never said, but I'm done here.

OMG. Wake up. It's because we are printing - bogus money. Like Monopoly money.

[ In Reply To ..]
Jeez.

This has nothing to do with the O - Unfortunately....

[ In Reply To ..]
Companies are not doing great and the economy is not looking up.

I sit here shaking my head at what you wrote. Do you really not understand what this country is going through?

None of what you wrote is the truth.

Everything I wrote is the truth, and some of it was my opinion. - sm

[ In Reply To ..]
Facts are easily searchable.

The S&P 500 is a list of stocks of 500 companies. The stocks are indexed and weighted, and these companies are doing great, as today this index closed for the first time ever at over 2,000. That is an economic milestone. These companies are making record profits, thus the value of the companies measured in monetary numbers is going up.

I'm sorry if the economy doing better and the economic indicators hitting all-time records doesn't fit your political agenda. Oh, wait! No, I'm not. I love my country and don't root for its failure.

My agenda? - ROFL

[ In Reply To ..]
Sorry to burst your bubble, but I have no "agenda". Maybe you do, by posting false information it fits into the agenda you want.

You may state your opinion, but you cannot change facts.

Nobody is rooting for the failure of the country. In fact we are routing for a better economy. The creatures in charge do not want a better economy or country.

When the economy starts getting better that will be a great time for the country. Except for the libs who have their own agenda and would rather see the country burn as long as its a liberal running it.

You can't just make up anything you want about the economy, when the facts are out there. It's bad and it's getting worse. Doesn't matter what your agenda is.

Soon the economy will start making its way back, but not until the country gets rid of the liberals in office.

Excellent post!! - BIG thank you.

[ In Reply To ..]
It's so nice to see some sanity on this board instead of the monopolizing radical left-wing propaganda machine regurgitating spew.

Your welcome - Facts are facts - sm

[ In Reply To ..]
You just cannot change facts. They can say cows can fly all they want, it doesn't mean it's the truth.

Of course cows can fly. Facts are facts. - Things change all the time.

[ In Reply To ..]
The economy is bad because you guys insist it is, right? LOL. Well nobody ever said that everything was great for everybody, in fact, the OP merely suggested the companies were doing great on the S&P 500 and that Congress needed to get busy raising the minimum wage and spreading the wealth to the people that make them very rich companies, and that would be us.

Here's a prime example of the difference between the "left" and "right" thought processes. Righties have a narrow mindset and generally always want to keep the status quo and tell you what is not possible. They want to "take our country back." "Back," right? Always looking "back" and trying to change things "back."

Lefties know that you actually can change facts. Whereas cows used to never fly, the fact is that cows now CAN fly. So facts change, times change, and lefties are not looking back to the status quo. In today's United States, just about everything can fly. Sure, the bigger, heavier stuff flies a tad bit slower, but it gets where it needs to go, no problem. Welcome to the 21st century, righties, where the status quo is now over and the way things used to be is long gone. Cows have been flying for quite some time now. We can fly just about anything to just about anywhere. We actually put multiple other things that can fly (like helicopters) into other bigger things that can fly. It's called the Lockheed C-5 Galaxy, a $64,000,000 flying miracle, and it's one of the most beautiful things you've ever seen on takeoff (see link).

My little chihuahua flew with me to Orlando once, sitting in my lap, had his own little ticket just like mine with his little name on it and everything.

Share the Wealth - Dream On

[ In Reply To ..]
You couldn't raise the minimum wage high enough to pay for the price hikes during this administration. The usual Democrat way.

And the "usual Republican way" is top-salaried - execs paying little to NO taxes.

[ In Reply To ..]
Yeah, and how's that working out for ya? Unless you happen to be married to one of those top-salaried individuals, I'd venture a guess that it's not working out all that well.

I have always done better - under Republican Admin

[ In Reply To ..]
and that was when I was a Democrat. Democrats are known to ruin the economy. That is why they always get kicked out. Clinton killed us with his hidden taxes. We are still paying on that one.

How very special for you that you did well. But - most people dont get the same result

[ In Reply To ..]
under a Pub admin. All they get is being TOLD they're "doing better." I myself would rather have the real thing than a pack of LIES.

You are the exception, actually. - sm

[ In Reply To ..]
According to Fox (yes Fox, link below):

"History actually shows that the U.S. economy, stock prices and corporate profits have generated stronger growth under Democratic administrations than Republican ones."

That's a historical fact, but the article goes on to say that it's not always clear who deserves the credit. That makes sense. How can you honestly blame President Obama for the crazy economy he inherited? I don't think it's fair to blame President Reagan for the fiasco that he inherited from President Carter either, although Reagan just sent the debt and deficits soaring to new heights.

The article further states:

"The best stretch of market performance since 1900 occurred in 1993-2000 under Bill Clinton, who saw the S&P 500 rally an average of 19.9% per year during his presidency, S&P said.

For Republicans, the strongest market action occurred from 1981-1992 when the S&P 500 climbed an average of 13.5% each year under Ronald Reagan and George H.W. Bush.

While administrations may be quick to take credit for GDP and stock-market growth, it’s not always clear who deserves credit or blame given the lag between policy and its impact on the economy."

The statement "Democrats are known to ruin the economy" is not true at all. I guess your personal history is just different from most other people's. What do you mean by "that is why they always get kicked out." How can you say Democrats always get kicked out? The last 2 Democratic presidents have both won 2 terms. The last president to serve only 1 term was a Republican, and he got "kicked out" by the Democrat that won the 2-term limit. I guess you could say Carter got "kicked out," but then so did both Nixon and Ford (who actually won 0 terms).

I think it's fair to say they both are getting kicked out equally, but no one party is going to hold the White House forever. The losing party always comes to its senses and manages to kick back in.

Question.... - sm

[ In Reply To ..]
If you were married to one of those top execs or one yourself, would you still be complaining?

You mean the "usual Democrat way". - sm

[ In Reply To ..]
What you wrote, yeah top salaried execs are paying little to no taxes, however you conveniently left out the fact that that is the democrat way too. Under democrat regimen those tope salaried execs are not paying taxes. In fact these top execs are democrats!

So, yeah, how's that working out for ya.

As a side note middle income has always done better under republicans. When demoncrats come in they they whittle away the middle income so now we are part of the poor.

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