Ever hear of quantitative easing (QE)? Anything that happened in the stock market for the last four years means nothing because of QE. The federal government (Obama) transferred $85 billion a month for almost four years from the taxpayers to the stock market. The last few months it has come down to $65 billion a month. The stock market is a mirage, a giant bubble that will pop.... Originally Posted by JD Barleycorn
Just for the record, the Federal Reserve ended QE entirely late last year. The program's positive effect on the stock market was much more indirect than you suggest. It wasn't Obama "transferring $85 billion a month... from the taxpayers to the stock market." It was the Fed buying long-term Treasuries and MBS, reducing the amount of those securities held by the private sector and increasing excess bank reserves on deposit with the Fed. While there are plenty of reasons criticize QE, it wasn't an Obama program and it didn't add to our taxes or debt. It was monetary policy, not fiscal policy.