Economy Stock Market Near 35,000: Where Is All the Media Giving Biden Credit?

[steveflynn]

I think it's a messaging problem more than anything. The stock market and the economy do better under Democrats but their messaging usually does not emphasize this at all.

 

[steveflynn]

Today was the biggest sell off in a year. That Biden's fault?

S and P 500 is up over 18 percent for the year and is up over 30 percent year over year.

 

[EndlessCritic]

Here's an interesting example of the double standard between right wing media and legitimate news sources: Remember when Trump was President, every time the stock market reached new records it was all over the place in right wing media... credited directly to Trump.

Then the MSM used to present the "counter argument" of "Obama economy." That is a great example of one of the fundamental dynamics of the media. One side drives a ridiculous narrative without any factual basis, then the MSM responds to that narrative, pointing out that it is without factual basis, but this creates the illusion of public debate-- as if there is some legitimate disagreement on facts, when there is not in any objective sense.

The point to note here is that there WAS a big public argument about how much credit Trump deserved for the hot economy/ stock market. Implicit in this debate was the idea that he deserved SOME-- perhaps a LOT-- of the credit. Just by engaging in the debate the media was strengthening his case.

Well, the stock market has been in record high territory since July, but you probably haven't heard about it much in the media. And you certainly haven't seen scores of articles crediting it to Biden personally. Just another example of why it really is a false narrative to suggest that right wing media is some sort of logical corrective to the "liberal bias" of the MSM.

Not sure if trolling.

The stock market doubled in the time Trump was in office, and that includes the COVID/gas crash. It's up about 10% since Biden took office, and he still has 3 years for disaster.

 

[steveflynn]

And yet you gave credit to Obama for it.

Trump was not a very good President at all for growth or job numbers though. He had a net loss in jobs and his annualized GDP rate for his 4 years in office was barely above 1 percent.

 

[My Spot]

Trump was not a very good President at all for growth or job numbers though. He had a net loss in jobs and his annualized GDP rate for his 4 years in office was barely above 1 percent.

You should make a thread about it instead of derailing this one.

 

[steveflynn]

Not sure if trolling.

The stock market doubled in the time Trump was in office, and that includes the COVID/gas crash. It's up about 10% since Biden took office, and he still has 3 years for disaster.

But he's right. Since Biden's taken office, the S and P 500 is up nearly 14 percent and has hit dozens of highs (though today, obviously, was a sell off) and this has not gotten nearly the same attention that Trump got when he was in office. Total wealth in the country has also hit numerous highs but that also has not gotten any kind of play at all.

 

[steveflynn]

This year for me is 12.7%
YTD 26.50%
Year-to-date is much higher due to the drop/recovery because of covid

Nothing to write home about.

I was averaging about 4% under Obama.

The stock market nearly doubled during Obama's two terms in office, so you averaging only four percent under him was a significant underperformance.

 

[ocfightfan]

What specific policy by Biden has contributed to this result? Again, be specific.

 

[steveflynn]

What specific policy by Biden has contributed to this result? Again, be specific.

The March 2021 Jobs Act and the Innovation and Competition Act have surely helped strengthen business and the overall economy both for the present as well as into the future. I am sure there are other things as well (but these were both top of mind).

 

[Mark Hunts FIST]

The stock market nearly doubled during Obama's two terms in office, so you averaging only four percent under him was a significant underperformance.

Maybe. Just reporting the facts.

 

[reveler]

because the stock market is bougie and the media is stuck on the woke setting.

 

[Blayt7hh]

Stock market isn’t all that affected by the president. That holds true when it’s a Republican or Democrat in office

 

[Mark Hunts FIST]

The stock market nearly doubled during Obama's two terms in office, so you averaging only four percent under him was a significant underperformance.

I guess so.

 

[Pride23]

Isn't Biden attempting to raise corporate taxes?

 

[pinger]

The American stock market has been artifically inflated for 10+ years with Quantitatuve easing.


PE ratios do not support it. It's due for a massive correction.

 

[HARRISON_3]

Part of the reason Biden isn't getting credit is because Biden isn't constantly running around taking credit, besides right now his main concerns are covid and getting his infrastructure bill passed.

Lol, there's a tweet for everything

 

[deadshot138]

Inflation has it up so no credit

This plus price gouging

 

[Sketch]

The American stock market has been artifically inflated for 10+ years with Quantitatuve easing.


PE ratios do not support it. It's due for a massive correction.

Never happening.

 

[luckyshot]

I think it's a messaging problem more than anything. The stock market and the economy do better under Democrats but their messaging usually does not emphasize this at all.

True. It's the only damn thing Drump ever talked about (besides how unfair life was for him).

 

[M3t4tr0n]

Makes sense. Trump just rode out the Obama market boom and now that Biden is in office it's skyrocketing again.