Yes, it’s time to celebrate. We’re in a historic bull market. GOP conservatives keep fighting the wrong war, against the Obama economy. Meanwhile, the Obama bull market keeps roaring ahead!. And the long term looks even better: Bullish pundits predict stocks will continue climbing into the 2016 presidential election. Folks, this stock market has been roaring since March 2009 when the DJIA bottomed at 6,547, a painful 53.9% drop from the October 2007 high of 14,164 during the Wall Street bank credit crash in Bush’s last year as president. The S&P 500 also bottomed, at 676, a 56.6% drop. However, since March 2009 the stock market has been steadily climbing. Over five years. And the DJIA’s made a remarkable recovery, to just under its next big milestone, 17,000. While the S&P500 is nearing 2,000, headed up. Yes, market gains over 250% … and still climbing!
So what can we expect from the stock market by 2016 and the election of the next American president? More! Fabulous 250% gains so far. And bigger gains possible coming in the next couple years till we elect a new president. Maybe over 300%. Gains likely to favor a Democrat. Get it? GOP conservatives may have been successful in slowing America’s economic recovery. But the stock market is actually getting surprisingly stronger from this political war. With every Obama progressive move — Obamacare, ERA regulations, equal pay for women, gay rights, minimum wages, stem-cell research, immigration, Osama bin Laden, deficit cuts and so much more — GOP conservatives and the tea party learn little, only hear enough for another attack on Obama, offer no solutions, just opposition.
Yes, the Great Obama Bull Market would be one for the history books. So, yes, in spite of the relentless GOP opposition, the attacks, legislative gridlock, economic headwinds, and global macroeconomic land mines put in his path, in spite of the ever-possible, unpredictable black swan, the Great Obama Seven-Year Bull Market, as financial history books will likely call it, may just keep thriving, overcoming obstacles, and roaring ahead predictably, hopefully till the next presidential election on November 3, 2016. And that label will stick no matter who gets elected the next president
Steve Benen: An emphatic answer to the ‘Where are the jobs?’ question
…. The new report from Bureau of Labor Statistics shows the U.S. economy added 288,000 jobs in June, well ahead of forecasts. The overall unemployment rate, meanwhile, dripped to 6.1% – its lowest point since September 2008, nearly six years ago.
…. April’s totals were revised up from 282,000 to 304,000, while May’s figures were also revised up, from 217,000 to 224,000.
Overall, the report suggests the jobs landscape is clearly improving, which is no doubt proof that American employers are in on the conspiracy to distract Americans from Benghazi.
…. June was the 52nd consecutive month in which we’ve seen private-sector job growth – the longest on record.
At this point, with the year about half over, 2014 is currently on track to be the best year for U.S. job creation since 1999.
Business Insider: US Jobs Report Demolishes Expectations, Unemployment Rate Plunges to 6.1%
Job creation in June was much stronger than expected as signs grow that the U.S. economy is accelerating.
The U.S. added 288,000 jobs in June, blowing away expectations for an addition of 215,000 in nonfarm payrolls. The unemployment rate also fell to 6.1%, the lowest reading since September 2008. Expectations were for the unemployment rate to remain unchanged at 6.3%.
Last month’s jobs report was also revised, with non-farm payrolls growing by 224,000 in May, better than the previously reported 217,000.
The report also showed April non-farm payrolls were revised up to 304,000 from 282,000.
I‘m going to speak to this just from a personal perspective. I’ve watched many Presidents in my day. I didn’t just become interested in politics when PBO came along. I volunteered for Clinton, Gore, John Kerry and then President Obama. I sort of watched Bush because my kids were over there fighting in that gawd awful war so I was tuned into cable and read the Washington Post religiously during his Presidency.
Times have changed so much with the progression of technology and the internet I have to say that of course President Obama’s Presidency is the most visible. White House dot org was a nothing site before this administration. Being able to follow PBO daily gives me an insight into his Presidency that was never available to me before.
I can tell you that Bush did very few events and when he did venture out it was to some military facility so that he could attempt to flex his C-I-C creds. It was always just a big photo op. His speeches were boring and you could only stand to listen to him speak for a minute or two before you felt violently ill. (no kidding) He was not well liked abroad because our standing in the World was piss-poor thanks to his Iraq War. Surprisingly Africa is the only country that I can remember that welcomed him warmly. Mainly because his funding for Aids in Africa is probably the only decent thing he did in his 8 years as President.
Clinton was visible and you would see on the evening news that he had traveled abroad or ventured out into DC. He remained relatively popular and was fortunate that the economy was doing quite well during his Presidency so even though he was mired in scandal from the day he stepped foot into the WH his approval stayed quite high. The country didn’t become quite so partisan until the Lewinsky scandal took place and you could feel the shift taking place after his impeachment.
IMO the Presidency was always been given the benefit of the doubt by the MSM. Papa Bush got it until he raised taxes on them. Clinton got it until the blue dress showed up. Bush got it until investigations outside of the media discovered that there were no weapons of mass destruction. President Obama got no honeymoon when he became President. CNN did a report card show on his first 50 days in office. Those bogus, staged town halls on Obamacare were no longer just being talked about on cable. Suddenly we were seeing this crap on the evening news and it was being reported as if it was real outrage by every person in the country. PBO kept right on doing his job. He worked tirelessly and never gave up on ACA and we got that bill through Congress and it is now law and millions of people have health care because regardless of what impact it had on him politically he was determined to see it through. Another testament to the character of this man.
The Republicans along with their enablers our MSM have used every trick in the book to bring him down but he just keeps doing his job. He travels the country from end to end talking to America. Practically every day there is some event at the WH, social media, unconventional media or somewhere in the country that he is involved with. He honors our military constantly and salutes our sports heroes almost weekly. He’s brilliant, handsome, affable, congenial, a great dad and husband and the hippest guy we have ever had grace the halls of the West Wing.
This angers the Right and the media because he doesn’t care what they think of him. He was hired by us to do a job and he is determined to do just that. There has never been a President who has worked as hard for all of America. Half will never appreciate that but it’s okay he’s still there President too. And when the tornadoes and hurricanes sweep through their towns and cities he’ll go and give them assurance that he’ll be there to see them through and help to restore sanity to their life’s.
No poll will ever capture what he does each and everyday for this country. Skewered or weighted it doesn’t matter. The appreciation of our Nation is for the history books. The job of his supporters, those of us who know better, is to make sure that those who aren’t paying attention never forget!
Silly Season is officially in full swing. Let’s see, Boner initiates bogus lawsuit against PBO which serves to energize Dems, increasing fundraising and inspiring intelligent and impassioned mocking via the “SoSueMe#”.
Then the Supreme Court issues a partisan anti-woman decision which served to energize and enrage Dems and make the GOP look like a party out of its time (and mind, next stop, theocracy).
So what narrative is the MSM/GOP pushing?
PBO is the worst president ever according to a biased and bogus “poll”.
Chuck Todd cheerily trumpets this bullshit (its the perfect companion to his “PBO’s presidency is over” nonsense from last week, which was “based” on skewed reading of a single poll question in a single poll).
The MSM/GOP are feeling the heat, so they create anti-PBO headlines through manipulation (and often misinterpretation) of polls. Propaganda 101. The MSM/GOP are attempting to recreate the mood of 2010, but reality keeps interfering with their objective, so they are relying more and more on strategically timed polls to halt any momentum of the Dems.
Trumpeting skewed polls and ignoring or burying news that can be viewed as positive for Dems (or the country) is the current tactic. Unfortunately for the GOP/MSM, this is not 2010.
Dems seem more unified and are more angry at the GOP than they are with their own party.
PBO is leading the party through both words and deeds.
He has no fear of the GOP and is speaking truth.
So is Harry Reid, who has really found his voice recently.
In short, don’t fall for the propaganda which is designed to depress Dems. The over the top nature of their propagandizing tells me they are desperate, subtlety is out the window as they see their influence in dictating perceptions waning.