Please disable your Ad Blocker to better interact with this website.

Connect with us

President Trump Just Set The Most Unbelievable Record In American History

Published

on

The bull market turns 3,454 days old on Thursday and that set a record for the longest period of uninterrupted gains in American history. The remarkable run began on March 9, 2009, in the ashes of the Great Recession and the scariest financial crisis since the Great Depression in the 1930s. At the time the S&P 500 was at 676 points, hard hit by the Great Recession.

So what exactly is a bull market? It is a financial market of a group of securities in which prices are rising or are expected to rise. The term “bull market” is most often used to refer to the stock market but can be applied to anything that is traded, such as bonds, currencies, and commodities. Investors willingly participate in a bull market in the hope of obtaining a profit. Bull markets often lead to the overvaluation of the stocks as the investors tend to become overly optimistic, believing the stock will always go up.

The opposite of a bull market is what is known as a bear market, typically characterized by a bad economy, fewer jobs, recession and falling share prices. Essentially, the decline in stock market prices shakes investor confidence, which causes investors to keep their money out of the market, which in turn, causes the decline in the stock market.

When the bull market began in March of 2009, the S&P 500 was at 676 points, hard hit by the Great Recession. Now as Fox News reports, some “nine-and-a-half years later, and the S&P 500 has rallied about 323 percent. The tech-heavy Nasdaq Composite has been the biggest winner, with a 611 percent gain, a clear testament to the strength of the tech sector. The Dow Jones Industrial Average has appreciated about 300 percent.

Trending: Cory Booker Sexual Assault Accuser Posts Update & We Now Might Know Why He’s So Theatrical

“What does this mean for investors? For those who invested when the market was at or near the bottom, their pocketbooks should be heavier. While the S&P 500 gained about 323 percent, the biggest gainers among current S&P 500 constituent stocks saw far larger gains. Top-ranked GGP returned over 7,000 percent, so far, in this bull run.”

“A look at the biggest losers paints a different picture. Over the period, the stock that experienced the biggest decline was Mosaic Co., whose shares fell 27 percent.”

The recession that hit caused nervous consumers to crimp spending, but in this bull run, there has been a major behavior shift. As it has continued, consumers have become more confident and as consumers have opened their purse strings, consumer-focused companies have benefited. So far in this rally, consumer discretionary, goods and services that are non-essential but desired by consumers if they have the disposable income, have led the performance.

What happens from here? As the bull market has aged there have been some concerns that it would run out of steam. But, many believe it has plenty of room to run. Consumer spending makes up about two-thirds of U.S. economic growth, and economic data shows that consumers are confident in their finances. Just on Wednesday, when discussing the latest quarterly results, Target’s CEO Brian Cornell said, “We’re currently benefiting from a very strong consumer environment — perhaps the strongest I’ve seen in my career.

“Companies have been particularly positive about tax reform, which President Trump signed into law in late 2017.

“As the bull market has aged, some have grown concerned that it’s only a matter of time until its momentum runs out. During an interview with FOX Business’ Neil Cavuto, Peter Eliades, editor of Stockmarket Cycles, said bear market indicators are evident in the markets, adding that he’d be “amazed” if the market moves above its current position 10 years from now. Other market experts are much more positive. Jeff Carbone, a managing partner at Cornerstone Wealth, said in a statement, “While this bull may be showing some age, we still think there is plenty of room to run, and that stocks will again set all-time highs later this year.’”

Zero Hedge reports on the bull market, stating: “it still has room to run in terms of percentage appreciation: from its March 2009 low, the current level of the S&P is 321% higher; it will need to gain another 4% to surpass the Great Depression bull market of June 1932 – March 1937 which saw a 325% rebound. To become the greatest bull market ever in percentage terms, the S&P will need to gain nearly another 100% from here, to surpass the 417% increase posted in the October 1990 – March 2000 market, which culminated with the dot-com bubble.

“Breaking down the bull market by sector shows that huge gains for companies such as Amazon and Apple helped propel the outperformance of the consumer discretionary and technology sectors.

“How about valuation? As shown in the first chart below, stocks recently were the most expensive on record relative to their long-term average of 15.1 on a forward basis and 17.2 on a trailing basis. However, the recent Trump tax-cut inspired burst in corporate profits helped pulled valuations back towards the norm. The question, of course, is whether the current global trade war (or any other black swan event) will make a mockery of projections. One possible such “unexpected event” is a spike in yields: as the second chart below shows, stocks have been supported throughout the run by Fed policy which kept interest rates low, permitting corporations to engage in a record amount of buybacks. The recent modest rise in yields, coupled with a spike in market volatility, helped to cause a recent market correction.”

 

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.

Trending Now on Right Wing News


BREAKING: Migrant Caravan Swells Massively Overnight – Invasion Imminent At Border

Published

on

...

* By

Yesterday we had reports that as many as 2000 Central American migrants had turned back.

According to reports, thousands joined the caravan out of the blue overnight, though. Numbers now range at over 7000 in the group. Apparently Mexican forces are standing down or being overwhelmed.

We need the military on the border ASAP!

The L.A. Times is reporting:

“A caravan of Central American immigrants started walking north into Mexico early Sunday, blowing past police and immigration officials as they continued their journey toward the U.S. border.

A group of several thousand immigrants set out before dawn on the only road out of the small Mexican border town of Ciudad Hidalgo. They were headed for the city of Tapachula, about 18 miles away.

It was unclear whether the police planned to stop the group. At one point, a large contingent of federal police officers blocked the road before retreating. At another point, a small group of police watched as members of the caravan passed, some of them running and skipping.

When a small group of immigration officials tried to stop the caravan to convince its members to apply for political asylum, the caravan swept past them too.

On Friday and Saturday, officials watched as thousands of migrants illegally crossed the Suchiate River that forms the border between Guatemala and Mexico.

Gerardo Hernandez, head of the civil protection agency in the municipality of Suchiate, Chiapas, said 7,233 immigrants were registered over the last three days at a shelter in Ciudad Hidalgo. He said his agency has been asked to help provide the immigrants with food and shelter.

The caravan left the impoverished and crime-ridden Central American nation of Honduras more than a week ago, and its participants began arriving late last week at the Guatemalan border town of Tecun Uman, just across the river from Ciudad Hidalgo.

The migrants say their intent is to cross into the United States. The Trump administration has vowed to stop their advance and has threatened Mexico and Central American countries with economic reprisals if they fail to stop the migrant group.

President Trump has made the caravan a campaign issue at his rallies in the closing weeks of the U.S. midterm election campaign, labeling the assemblage of bedraggled migrants a threat to U.S. security and saying he would call out the military should the migrants make it to the U.S.-Mexico border.

Mexican President Enrique Peña Nieto, under pressure from Trump, has said that no migrants will be allowed to enter the country in an “irregular” manner.

On Friday, Mexican authorities put on a show of force when several thousand caravan participants tried to storm the official Mexican border crossing into Ciudad Hidalgo. With tear gas and police in riot gear, Mexico thwarted the attempt to breach the border, an operation that drew praise from Trump.

The caravan is made up mostly of men but also includes hundreds of women and children, some of whom said they were fleeing violence.”

The Gateway Pundit also reported:

“The illegal migrant caravan is sweeping through Chiapas in southern Mexico on Sunday, their numbers having jumped to over 7,000 overnight from just a few thousand as it became apparent the caravan would not be stopped by Mexico. After blocking the migrants on a bridge Friday, Mexican officials allowed the migrants to swim and raft across a river from Guatemala into Mexico Saturday and then regroup in a riverside park. Mexico also allowed over 600 women and children to legally enter for processing on Saturday.

Reports from the caravan state that on two occasions Mexican federal police stood in formation to meet the caravan as the migrants staged a massive march up a highway. As the migrants approached both times the Mexican police stood down and let them pass. A Mexican official was reported to have said they can’t stop 7,200 people.

Kate Linthicum with the Los Angeles Times reported on the two failed attempts to stop the caravan Sunday: “I’m only just realizing the massive scale of this caravan as they march north into Mexico. It’s several thousand people. Just look…A group of immigration agents stopped the caravan to ask them to apply for asylum in Mexico. The caravan blew past them…The caravan just swept past a large contingent of Mexican federal police, who didn’t do anything to stop them…”

Continue Reading

State Assembly Just Impeached Their Entire Supreme Court – They’ve Had It!

Published

on

...

* By

In what has to be the feel-good story of the day, The Hill is now reporting that the West Virginia House of Delegates actually voted on Monday night to impeach all of the justices on the state Supreme Court. This decision was prompted by reports of extravagant spending on office renovations.

In a series of votes that of course fell along party lines, lawmakers approved 11 articles of impeachment against the four sitting justices. Sending the process on to the State Senate.

State lawmakers had originally voted to impeach Justice Allen Loughry on eight articles after he and his office spent $363,000 in renovations. This became an issue when he was allegedly found to have lied to the House Finance Committee about having a $42,000 antique desk and computers, owned by the state, transferred to his home. And also was found to be using state vehicles for his personal use.

Here is more on this via Fox News:

“West Virginia lawmakers, seeking to remove every justice on the state’s four-member Supreme Court amid what they called an “over-the-top” spending scandal, impeached three justices on Monday, including Chief Justice Margaret Workman.

One article of impeachment said Workman and Justice Robin Davis signed documents in their roles as chief justices allowing for senior status judges to be paid higher than allowed wages. Lawmakers say the overpayments violated state law and stopped when they were challenged by the Internal Revenue Service.

Earlier Monday, the Republican-led House of Delegates voted 64-33 to send an impeachment article against Davis to the state Senate for trial. The vote came shortly after lawmakers also impeached indicted Justice Allen Loughry by a vote of 64-33. Loughry’s impeachment vote, which came after approximately two hours of debate, took only seconds, NPR reported.

Fox reported that one justice escaped impeachment, but that has now changed:

“Justice Beth Walker is the only current justice who has not been impeached as of Monday evening.

Walker was cleared late Monday of an impeachment article for spending $131,000 on renovations after taking office last year. She still faces another article that accuses her and the three other justices of abusing their authority by failing to control office expenses and not maintaining policies over critical matters. Some lawmakers said they didn’t condone Walker’s spending but said it paled in comparison to other justices.”

The Charlotte Observer is now reporting that another vote was held & Justice Walker has been impeached also:

“The West Virginia House of Delegates has impeached all four of the state’s Supreme Court justices.

The Republican-led House on Monday night impeached Justice Beth Walker and the other justices for abusing their authority. The article says they failed to control office expenses and not maintaining policies over important matters such as working lunches, the use of state vehicles and office computers at home.

Walker was the last of the four justices to be impeached. She had avoided impeachment earlier when the House voted not to pass an article against her for $131,000 in renovations she made after taking office last year.”

Fox News continues:

“The impeachments do not remove the justices from office. The articles will go to the Senate, which can formally remove the justices only by a two-thirds vote.

The charges were largely related to the justices’ use of state funds to conduct office renovations. Davis spent more than $500,000 on her office and Loughry spent more than $363,000 on his.

Loughry is under federal indictment and named in eight impeachment articles, including allegations he lied about taking home a $42,000 antique desk and a $32,000 suede leather couch.

On Monday, Loughry was impeached under six impeachment articles, including for allegedly driving state vehicles for personal use and of using state-owned computers at his home. He was also impeached for his role in assuring higher pay for senior status judges.

Republican Delegate Tom Fast of Fayette County said he had seen the work done in Davis’ office, including track lighting on the floor. He characterized the renovations as “over-the-top” and said the impeachment article “is one of the more easy ones” for him to support.

However, some legislators said they didn’t support impeaching any justice for wasteful spending, only for articles pertaining to lying, cheating or stealing.

Several lawmakers noted that the Supreme Court has a separate budget and is currently allowed to spend as it sees fit. A proposed constitutional amendment this fall would bring the state courts’ budget partly under legislative control.

But State GOP Delegate John Shott, who helped draw up the impeachment articles, said that if West Virginians do not trust their highest court, “we need to take action to try to rebuild that trust.”

Normally, West Virginia has five Supreme Court justices who are elected to serve a 12-year term. However, Menis E. Ketchum resigned from the state Supreme Court in July after he was accused of alleged federal wire fraud. He pleaded guilty to a felony charge of defrauding the state and faces up to 20 years in prison.”

Justice Robin Davis was also impeached after allegedly using $500,000 for office renovations.

Reports are now also adding that state lawmakers had initially overlooked Chief Justice Margaret Workman’s spending of $111,000 on office renovations. So she was also later impeached for her role in allegedly allowing senior-status judges to receive higher wages than allowed by state law. Davis and Loughry have also been accused of this.

Justice Beth Walker was the final justice whom lawmakers voted to impeach after she was found to be guilty of abusing her authority. This article also counted against the other justices. Lawmakers had previously decided to look past her spending $131,000 on office renovations.

The former Justice Menis Ketchum was reported to have stepped down from the bench last month and pleaded guilty to one count of federal wire fraud.

The West Virginia Governor, Republican Jim Justice will be allowed to appoint new justices to replace those who were impeached. He is not required to appoint justices from the same party as the incumbent as well so let the left wing whining begin.

Continue Reading




Latest Articles

Become an insider!

Thank you for your interest in receiving the Right Wing News newsletter. To subscribe, please submit your email address below.

Send this to a friend