Posted on 01/20/2024 4:28:29 AM PST by FarCenter
The mainstream media is reporting "This record-breaking market just keeps going higher and higher. Hereโs why"
https://www.cnbc.com/2024/01/19/this-record-breaking-market-just-keeps-going-higher-and-higher-heres-why.html
A panel discussion on MSNBC was discussion why Biden isn't getting the credit for the great economy, with inflation coming down and the stock market making new highs.
The reason is that the stock market is actually about 9% lower than it was in December 2021 when adjusted for inflation. According to the Bureau of Labor Statistics inflation calculator, a December 2021 dollar is worth 91 cents today.
https://www.bls.gov/data/inflation_calculator.htm
And what goes for the stock market also goes for wages, Social Security payments, etc.
An income of $50,000 December 2021 is worth only $45,445 today.
From the beginning of the Biden Administration it is even worse. An income of $50,000 in January 2021 is worth only $42,638.21 today.
“I went to KFC last night. It cost me $3 more.”
__________
At least you’re eating well.
A +
On Jan. 4 2022 the S&P 500 set a new price record of US$4818.62. The record high ‘closing’ price back then was on Jan. 3 2022 of US$4796.56.
On Oct. 13 2022 the S&P 500 traded thru US$3500 to a low of US$3491.58. The lowest “Bidenomics” close was on Oct. 12 2022 of US$3577.03.
The high/low total range was US$1327.04, that’s more than a 27.5% drop.
On Jan. 11 2024 the S&P 500 finally traded briefly at 4798.50. That was over TWO YEARS trading below the old record close.
It was not until Jan. 19 2024 with a close of US$4839.81 that the old record was broken. All on Low Joe’s watch.
Well done Bidenomics!!! The new record is 0.89% higher.
We are ‘numerically’ back to where we were two years ago minus inflation. The recently publicly educated may think that is progress.
https://www.advisorperspectives.com/dshort/updates/2024/01/04/the-s-p-500-dow-and-nasdaq-since-their-2000-highs
Graph of the Dow, S&P 500 and NASDAQ adjusted for inflation. This does not include income from dividends, which, after taxes, would increase return a little. Nor does it include capital gains taxes, which are at a lower tax rate but are on mostly the increase due to inflation, rather than the increase in real value.
The AMD stock I own has since Jan 2nd gone from $138.58 close as of friday to $174.23 with after hours up $1.76
UP almost $36 in 14 days of trading. ๐๐ค๐ฐ
From friday close on Jan 12 of $146.56 close to $174.23 on Jan 19 friday.
AMD will have their quarterly results in about 9 days.
The stock will go up even more.
AMD went from Jan 3, 2023 at $64.02 to Dec 29, 2023 close at 147.41
I hope it does what Nvidia did last year that went from about $109 to $450
It is now at $594.91, which is up over $100 in 14 days of trading.
From $481.68 to $594.91
Both make chips for graphic cards and AMD also make cpu chips.
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