Is It Obama or Trump Who’s Driving Up the Stock Market?
There is some truth to this meme, but in fairness, euphoria about tax breaks for corporations and the super-wealthy, as well as the sheer joy associated with destroying the environment with financial impunity are weighing in here. The S&P 500 is completely indifferent to human health and happiness.
Craig,
I wonder if the stock market was depressed you’d be claiming it was Obama fault ?
I wonder how happy people (especially Americans) would be without the economic and social benefits provided by the S&P 500 companies?
Very few people were happy during the great depression ! Oh, and how did the environment benefit from those old Soviet bloc “worker’s democratic paradises”. ( We’re still cleaning up the pollution).
Talk about biting the hand that feeds you !
Romantic idealists always rant on about the evils of free enterprise while enjoying the peace,prosperity, and immense benefits provided by a complex modern world economy.
It’s not possible to revert to an idyllic past, of happy rustic farmers, because it never existed ! Life was short, harsh and dirty for the majority, full of disease, and bad (rancid food).
Try visiting a dentist of the last century and you’d quickly learn a lesson in “happiness” , as well as an appreciation for modern living.
Still got doubts ? Well, just leave the comfort of Santa Barbara and join me in Jenner Junction, Pennsylvania. C’mon down and meet former democrat voters living below the poverty line. Meet the residents of Somerset County with a male median income of $26,163 and $22,688 for females, more than 30% of households with less than $15,780 pa.
Meet regular American working folk, whose lives of poverty and despair have been transformed by the opening of a new coal mine where workers can earn $100,000 per year.
Meet their jubilant their jubilant families and admire the compassion they’ve shown to the unfortunate couple whose property overlooks the new mine.
Of course some long term inhabitants (many families back to early 1800’s) of Jenner Township and Somerset County are less sympathetic to the plight of residents Mike and Mary Jo Picklo whom they see as ‘outsiders’.
Mike and Mary Jo Picklo are typical of affluent retirees from the city who bought up distressed properties cheaply during the economic crisis.
These retirees were attracted by the rolling hills and close proximity by automobile to the amenities of Johnstown and Cambria County.They were also attracted by the bargain prices caused by the closure of old industries.
A certain amount of resentment was to be expected, but this has been exasperated by the Picklo’s becoming celebrities among more “outsider’s ” such as ‘green’ activists like NextGen Climate President Tom Steyer etc.
The mine owner, Corsa Coal, offered to buy the Picklo property at a premium and pay for relocation, only to find it’s offer portrayed in the NYT as “Trump’s Coal collaborators driving locals out of their family homes “.
Naturally, with seven new coal mines, 11 scheduled to close remaining working, and two new steel mills re-opening, the residents of these rust belt cities are now enthusiastic supporters of the President.
Less puzzling is the antipathy by the locals of nearby Boswell who read to their amazement the claim by PennEnvironment Executive Director David Masur,
” Residents in small townships such as Boswell are typical of Pennsylvanians in consistently expressing their support for action on climate change, with a majority in favor of efforts to reduce carbon emissions such as through the Clean Power Plan “.
None of the 1400 residents of Boswell can recall ever taking part in any “poll” ! (but do recall voting for Trump !). Boswell is no longer a coal town, hasn’t been since the 70’s.
But hey, c’mon, take a road trip. You’d be really surprised how erudite, tolerant, warm and friendly are the locals folk in these small, and often forgotten communities.
As the Mayor and president of the Chamber of Commerce pointed out, it’s not just the jobs created (or retained) in Coal and and Steel, but the the prosperity felt in the shops, services, schools and the whole community which creates hope and confidence.
As one local, a long term Democrat voter explained:
“Obama was a good man, but he never understood. He offered us more welfare, more social workers, but folks just move away and our towns were dying. He only cared about the big cities. Trump gave me a job, he made us feel valuable to America. He brought hope. Hell, I know he’s got faults, but for us, he’s our President.
Jenner is pretty typical of 80 % of the towns we’ve visited so far.
it always pay’s to get both sides of the argument.