Good day all. When President Trump was elected, the stock market began climbing to new record levels. Shareholders understood that the socialist, anti-American Obama maladministration was going down hard. The market continued it’s climb during the 4 years of the administration of the Greatest President of the 21st Century.
The only blip was due to the Great Panicdemic of 2020 and the idiotic lock-downs by most of the governors of the United States. The markets dropped, but then started climbing back up to their original levels. Then came the Presidential Election. One of the things President Trump said was that if Biden was elected, the markets would crash.
Since the installation of the worst president* in American history, Joe Bumbles Dementia Biden and his maladministration of Marxist Morons, the stock markets have collapsed and fallen into a Bear market, just as President Trump predicted. Here are the details from the Daily Wire:
A clip of former President Donald Trump arguing that the election of President Joe Biden would lead to a plummeting stock market circulated online on Friday after Wall Street saw a bloodbath.
The Federal Reserve increased targets for the federal funds rate by 0.75% on Wednesday afternoon, sending the Dow Jones Industrial Average, which tracks 30 of the most prominent companies on American exchanges, tumbling more than 500 points. After stagnating on Thursday, the index fell another 500 points by early Friday afternoon to 29,400. On January 20, 2021, the day of Biden’s inauguration, the Dow had closed slightly above 30,900.
As a comparison, the Dow Jones high point was around 36,952 points last January. Now it’s some 6000 points lower. This is when the clip of President Trump’s remarks during the 2020 campaign came out.
“They said the stock market will boom if I am elected,” Trump said during a 2020 presidential debate. “If he’s elected, the stock market will crash.”
While the market hasn’t technically crashed, (It would need to drop probably another 40% from it’s high), it has started a major downturn. All this is directly attributed to the polices of the worst president in American History Dementia Joe Biden and his maladministration of socialist incompetents. On day one of the maladministration, Bumbles Biden killed the KeystoneXL pipeline that would have helped our energy independence and threw tens of thousands of people out of high paying jobs.
The maladministration’s continued assaults on the energy sector, along with the continued lock-downs and vaccine mandates did further damage. Part of the mandates was forcing people working in the transportation sector to get vaccinated with the questionable vaccines. This led to massive disruptions in the supply chain made worse by the incompetence of Secretary of Transportation Pete Buttplug.
We then had the massive out of control spending which has led to the highest inflation rates in 40 years, and the Federal Reserve now jacking interest rates to try and get the inflation they helped cause under control.
Indeed, the United States economy has languished over the past two years under multiple disruptions — including labor shortages, supply chain bottlenecks, and the Russian invasion of Ukraine — all of which have contributed to worsening inflationary pressures.
Dementia Joe has been quick to blame everyone else for his own stupidity and incompetence. Yes, the Russians invading the Ukraine has caused some issues, but if President Trump were still in office, it wouldn’t have had the effect it is having now. There is a good chance that Russia might not have invaded in the first place.
The labor shortages are due in many cases to the welfare payments made by Biden and the Democrats being worth more then getting a job. Add to that the Fed printing money like there as no tomorrow and you have a case study in how cause skyrocketing inflation and crash an economy.
Price levels between August 2021 and August 2022 rose 8.3%, according to data from the Bureau of Labor Statistics, marking a slight moderation from an 8.5% year-over-year increase in July and a 9.1% year-over-year increase in June. Despite the moderation in year-over-year inflation, month-to-month prices for food, shelter, and medical services ticked upward, while core inflation — a metric that excludes food and energy, which tend to be more volatile — continued to rise.
Personally, I think that the actual numbers a far worse, and that the maladministration is not reporting the real data. For instance, the generally accepted definition of a recession is two consecutive quarters of negative growth. In other words, the economy contracts, not expands. We saw that this year. The maladministration’s answer to this? They just redefined what a recession is. They also lie through their teeth.
Officials from the Biden administration have nevertheless claimed that the economy is strong. When Fox News correspondent Peter Doocy pressed White House Press Secretary Karine Jean-Pierre on a poll showing that 83% of Americans believe the economy is “poor or not so good” earlier this year, she doubled down on the notion that the economy has improved since Biden assumed office.
“What I’m trying to say to you is that the economy is in a better place than it has been historically,” Jean-Pierre said. “And so, we feel, here at this administration and other experts as well … we feel that we are in a good position to take on inflation. We are in a good position to really start really working on lowering prices.”
KJP is both a liar and flat out stupid. The economy is poised to slide into a depression, and the meatheads in the White House are jumping up and down on it to drive the economy right into the dumpster. One of the reasons the economy is going downhill is the cost of energy.
Biden has pushed renewable power while leasing less federal land for oil and natural gas drilling than any of his predecessors since World War II. At the beginning of his tenure, Biden also nixed expansions to the Keystone XL pipeline project.
I do believe that the maladministration has been ordered by the courts to start leasing again, and, as is usually the case with Democrats and other socialists, is being totally ignored.
The Federal Reserve has repeatedly increased interest rate targets in response to rising price levels. Officials also announced interest rate hikes of 0.75% in June and July — moves meant to discourage inflation by increasing the cost of borrowing money for businesses and consumers.
Raising the rates won’t fix the root cause of the problem. That is both Dementia Joe and the Congress. These fools have been spending money that even a drunken sailor wouldn’t, and now the bill is coming due. Add to that the Progressive Liberal Democratic Socialists desire for totalitarian control of everything, and regulating all aspects of American life, and you have everything you need for a complete economic collapse.
To stimulate the economy after the lockdown-induced recession, the Federal Reserve had formerly pegged a near-zero target interest rate and purchased government bonds from the market.
That was yet another mistake. There was no need to “Prime the pump.” People were all set to get back to work and start spending on everything. I won’t bother going into the whole lockdown thing. That’s been well covered and is considered to have been both a waste of time and a complete disaster.
My personal finances have suffered thanks to the idiotic policies of Biden and the Democrats. My stock portfolio, both IRA/401K and other, is down a good 40% and I don’t expect it to reverse course any time soon. Almost all of the stocks I have are in dividend stocks, and as long as they keep paying, I can keep reinvesting. I’m not buying anything new at this time.
The one thing I am looking at is Treasury bonds, such as the I bond. Those are tied to interest rates and I have some at 7% and others at 9%. The Fed reworks the interest rates every 6 months and they’re just about due to reset them again. I won’t be surprised to see the rate going over 10%. Of course, if the dollar is worth nothing, then it doesn’t matter what the interest rate is. 10 percent of garbage is still garbage, and we can expect even greater economic disasters from Dementia Joe Biden.
Thatisall
(3 votes, average: 5.00 out of 5)
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