Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Throughout the year, but especially early in the year, we were told ... oh I don't know how many times, probably dozens ... that the stock market would crash under Biden (I would be happy to find aforementioned posts and threads, if anybody wants me to). Yet here we are, at the last day of the year, and the stock market has not crashed as so many here predicted.
In fact, the S&P 500 racked up 68 new records, and a gain of 25.7%. Compare that to his predecessor's gain of 18.15.
Near midday Friday, the S&P 500 was up over 25% in Biden’s first calendar year in office, compared with a 31.2% gain in the broad-market index under Obama. The equity market return for Biden is better than President Donald Trump’s 18.1% for the same index in 2017.
In fact, the average performance in the first year of a Democratic president since their swearing until the end of first year is a gain of 14.2% on average, compared with a 1.2% loss for the GOP.
In consolation for the Trump fans, the Dow and NASDAQ did better in Trump's first year than in Biden's.
Still, considering how many people were predicting a stock market crash because Biden, it did quite well.
Take credit for any advancement if you can specify any policy Biden spearheaded that lead to the gains.
If not it was probably just momentum and speculation and would have happened regardless of who was in office.
One could have asked the same questions to Trump fans in 2017. Not sure why Biden fans are expected to answer such questions when Trump fans weren't 4 years ago.
The recovery is moving fast, and the American Rescue Plan is integral to that fact.
Inflation hawks will tell you the Rescue Plan was a massive failure, citing only higher inflation. They are wrong, and we cannot allow them to write the Covid history book. Yes, inflation’s been higher and for longer than expected by proponents of the more relief like myself. Put inflation in CONTEXT, and the hawk’s case falls apart.
If you look broadly at what’s happening in the U.S. economy—inflation-adjusted consumer spending, jobs, business investment, and household balance sheets—it’s clear that Americans are winning. That was not the case after the Great Recession when some of today’s hawks led policy.
lets see big surprise when the value of the dollar falls anybody with any brain flees to asset purchase. Its what you do. Of course this benefits those with the ability to actually buy assets for millions of Americans who are finding it harder to buy the basics like fuel, milk and bread, well they can eat Cake. The irony that it was always the Democrat's who touted themselves as the party of the people and said the Republicans were the party of the wealthy and a Democrat's is praising the increase in asset value as the dollar is plunging like a rock.
Conservatives in 2017: "Trump made the stock market go up."
Conservatives now: "Biden didn't make the stock market go up."
Wrong. This is not how we think. Conservatives aren't economic infants like liberals. We know the fed has more impact on the economy than the president and of course Jerome Powell has been at the helm since 2018 spanning the presidencies of both a successful pro-business guy and an utter pants-$h1tting retard. You tell me what the common factor is there, genius.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
