Friday, December 30, 2016

NOBEL PEACE PRIZE WINNER receives another award:

Jimmy Carter also won a Nobel Peace Prize....
THE WALL STREET JOURNAL: A Preview of Obama’s Post-Presidency. If the link doesn't work, a back door may be here.

The comments were mostly pro-Trump, but I found this Obama advocate's comment interesting:
Well, I don't know about you, but we're up 150% in our 401k plans and our kids are home safely from the war GWB started for no reason. Thanks to Obama for pulling us out of the financial pit the Bush administration put us in, saving the auto industry and providing health care for millions.
Looking back at the data using the Dow Jones Industrial Average as a proxy, the average market growth rate over almost any multi-year period is about 7.2% - or 174% over the 8 years of the Obama admininstation. Looking at just the Obama years, the average growth rate has been 10.6% - or 224%. Looks like our Obama acolyte is not the sharpest knife in the investment drawer, since 150% is just slightly better than the return of 10-year treasury bonds.

Another interesting point: since the beginning of the Eisenhower administration (1953), the average growth rate for Democrat administrations is 9.6%; that for Republican administrations, 6.8%. So if the stock market is a proxy for wealth then Democrats, not Republicans, are the 'party of the rich'.