recession it was a bad recession in 2008-2009 but it could, it didn t have to be such a slow recovery, because the president at that time raised tax rates, he increased the number of regulations and that slowed business growth, right? it did indeed and one of the things to remember is the big chunk of the stock market bull market was financial engineering , companies buying in stock, borrowing and buying in stock, and the number of listed companies, half of what it was a generation ago, so big companies did well, but if you look until recently smaller companies which is really the juice for this economy, provides two-thirds of the new job, formation was one of the most awful periods in american history, starting to recover, so this was big company bull market, but for the economy until recently not so good. david: and rebecca it took the market three years to recover to get back to levels before the recession, when president obama was in power. the day after president trump was elect
stock market bull market. in june we hit ten years of expansion without a recession. that s a record. y and the problem is that once we hit a the complete record of nonstop growth, people start to ask the question, how long can this go on for. and there are a number of reason yes you think this is going to approach the end. higher interest rates. the end of the sugar high from the tax cuts and also the trade wars that, i think, we re still going to be in. still going to be problems with china. so i think towards the end of 2019 we may be wondering whether the next recession is already starting or imminent. we re at a trade war with china which will weaken china but china s weakening on its own. or its growth rate is slowing. china is slowing but you d expect the growth rate to slow because been very high for a long time. who would complain about
the reason anybody cares about these yields or these rates is because essentially the higher these rates go the moral kinds of borrowing gets expensive whether that s consumers for home loans or car loans or whether it s businesses, but as more strategists point out we re in a nine-year stock market bull , bull market so even if this week has been brutal for you if you have been in stocks for years, you have still made money and we just put up these levels for the past 52 weeks alone you saw them there but essentially if you average the dow, s & p 500 and nasdac over the past 12 months you re still up 25% and if you re in since the recession you re up something like 200%. neil: it is interesting when you mention about the memo and how the potential of that could be not so much on the details there in, but it could drag out an investigation that s the peer of the unknown. right and we always talk about this cliche which is markets hate uncertainty but it s true and with this pressure
that s creating a little more investment here at home. by and large, though, this is still an extension of the recovery that s been ongoing since 2009 and the stock market bull market if you will that began in march of 2009 that s up almost 300% since then. let s just say that one more time. the stock market since 2009, up almost 300%. ron, thank you. we re going to take a break. next, more allegations of sexual assault in hollywood. we re going to go live to l.a. for the latest accusations made against people in the entertainment industry. patrick woke up with a sore back. but he s got work to do. so he took aleve this morning. if he d taken tylenol, he d be stopping for more pills right now. only aleve has the strength to stop tough pain