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Biden inherited an economy with one of the strongest foundations in history. For months after he took office, the momentum of the Trump economy and practices carried the day, encouraging job creation, growth and a booming stock market. Well, it took a few months, but the fruits of Biden's practices are being felt. A quarter of negative GDP growth. Rapidly slowing growth in manufacturing employment. Housing starts down. Highest inflation in over 4 decades. Now a stock market hard into bear market territory.
Stocks suffered their worst day of the year on Thursday, pulling back sharply and completely erasing a rally from the prior session in a stunning reversal that deepened the market’s losses for 2022.
The Dow Jones Industrial Average lost 1,100 points, or more than 3%. The S&P 500 and Nasdaq Composite fell 3.7% and 4.9%, respectively.
The coming recession seems inevitable. The question is will it be worse than the Carter recession.
This is terrible. I have to console my parents and remind them of what's really important in life... And it isn't money... And I doubt I will be able to convince them of that. Like millions of Americans, they have been forced into the stock market because they have been trying to stay ahead of inflation for years, and the banks don't pay anything meaningful on CDs, savings, etc.
They are beyond disgusted by this regime. And there's a whole lot of other really really disgusted people. The anger is real, and palpable among the general public. While Biden tries to distract everyone with wars on the other side of the world, Americans are taking a hard look around in their country and realizing, they deserve so much better than what they are getting from their elected officials. That includes many republicans, but the democrats are in control and laying waste to everything we have entrusted them with.
This administration is going to go down as doing more harm to average Americans than any in history.
And they are far more concerned with woke social policy than they are with facing the issues that we ALL are dealing with (investment accounts dropping every day, inflation with no end in sight).
Thanks Teleprompter Joey for being so good for your country. You're running it into the ground. Go crap on yourself and thanks for putting us into a recession. It was only a matter of time with your dumb self. You're an idiot and hurting the people of which you are supposed to lead. I can't wait until you and your cronies are out of the white house. Take your crazy woke idiots with you.
Y'all are the biggest set of stupid hypocrites I've ever seen.
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