DOW 30,000 ?

[ShivaFan]

May as well just post it now.

Because the DOW is going to 30,000. So why bother with "DOW 25,000" - it may hit 25,000 by tomorrow... or even today.

Never have been swimming in so much wealth in my life. And then, not just the markets, but due to some "fork" in the block chain, all of a sudden a bunch of "Bitcoin Cash" (yet another crypto different than bitcoin itself) just appears in my account like free money, I didn't even buy it. Something about anyone owning bitcoin in August gets this without even doing anything.

Nevermind that, the markets alone are incredible. Bubble? Well, nothing is forever, but if you didn't get on this back just after the election, well, too bad now. But this is going to be a great next few years.

At this rate, maybe I will build a new Hindu Temple myself. I probably can afford it.

 

[BSM1]

It's amazing how many "good economy deniers" are out there. Just to show my big heart I hope their crow is seasoned to their liking.

 

[metis]

Just a reminder that we are still under the "Obama budget" as the "Trump budget" has not yet been passed.

 

[BSM1]

Just a reminder that we are still under the "Obama budget" as the "Trump budget" has not yet been passed.

Really has nothing to do with the economy. In reality the Federal budget of any administration is more of a hindrance than a boon to the general economy.

 

[metis]

So, a national budget has nothing to do with the economy? Well, maybe tell Paul Ryan and the other Republicans that because they were in quite a joyous mood last night.

 

[BSM1]

So, a national budget has nothing to do with the economy? Well, maybe tell Paul Ryan and the other Republicans that because they were in quite a joyous mood last night.

Again you are misreading the reaction. BTW they weren't celebrating the budget, they were celebrating the tax reform. That will definitely effect the economy in a positive way.

 

[metis]

"Tax reform" has a direct correlation with the "budget" as they themselves have claimed many, many times over, and the CBO estimate his it that it will likely raise our budget deficit by $1.5 trillion over the next 10 years.

 

[Father Heathen]

It's amazing how many "good economy deniers" are out there. Just to show my big heart I hope their crow is seasoned to their liking.

Tout it when you think it's your guy...

Really has nothing to do with the economy. In reality the Federal budget of any administration is more of a hindrance than a boon to the general economy.

...then dismiss it when it turns out to be the other guy.

 

[Quetzal]

Great news! I don't know anything about the economy so maybe someone can help me out. @BSM1 maybe? Is this a sign of a bubble? I am excited that the numbers are high I just dread something bad might happen not long after...

 

[suncowiam]

Again you are misreading the reaction. BTW they weren't celebrating the budget, they were celebrating the tax reform. That will definitely effect the economy in a positive way.

The Tax Reform is a huge part of the budget. Where do you think the US Government gets most of their money from or just any government in general? That's right... Taxes.

Spending is the next part...

 

[metis]

Is this a sign of a bubble? I am excited that the numbers are high I just dread something bad might happen not long after...

It could create a "bubble" but that by itself shouldn't spell any doom & gloom. However, right now the DOW is high, so it's very likely to take at the least a bit of drop but, hopefully, not a catastrophic one that could create panic-- and it's panic that is the single biggest potential threat.

Instead, there are three long term problems likely to be created, with one of those being a reduction of essential services down the road, another being an increase in those without medical insurance that may rattle insurance companies and raise rates, and a third being a greater disparity of wealth that even scares conservative economists, such as Alan Greenspan.

So, expect to see cuts in Social Security, Medicare, and Medicaid, along with no significant amount of money going in to help our infrastructure. Also, roughly 35% of investment savings will go to foreign stockholders, thus $ leaving this country.

And in 10 years, anyone making under $75,000 will see their taxes go up from where it is now.

IOW, it's like "death by a thousand cuts", but not likely an eminent threat at this point.

 

[BSM1]

Great news! I don't know anything about the economy so maybe someone can help me out. @BSM1 maybe? Is this a sign of a bubble? I am excited that the numbers are high I just dread something bad might happen not long after...

Everything is a bubble, there are never any guarantees. There are a lot of mitigating factors, but what you are seeing now comes mainly from confidence by manufacturers in our economy again. They believe in the long term and they believe we are just starting the long term. Simply put, they are hiring people to produce the goods and services that these same people will be buying. The present administration has done away with over 60 business killing regulations enacted by Obama; and Trump has got better deals for us with our foreign markets and suppliers. Fear not, Q. Go and spend. Be happy. BTW, I am only going to answer you on this because you can already see that any debate with the "deniers" will be a waste of time and ink...uhh...memory space.

 

[ShivaFan]

And actually, I think exactly the opposite of some naysayers are saying, it is probaby a great time to invest in REITs while the going is still relatively cheap because I bet they go up up up over the next year.

So you might consider ETFs or mutual funds and indexes that are REIT based, there is great opportunity there.

 

[Quetzal]

The present administration has done away with over 60 business killing regulations enacted by Obama

I didn't follow these developments very closely, what got the ax?

BTW, I am only going to answer you on this because you can already see that any debate with the "deniers" will be a waste of time and ink...uhh...memory space.

I don't know enough about economics to debate. I will take the @Revoltingest approach and wait n'see. Meanwhile, it looks like we might see some tax reductions as early as February, that will be a nice change. Not sure of the long term effects but for now, I am willing to see where this journey takes us.