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

[HOLA]

Yeah I get that. I think it’s just an easy metric for a lot of people to understand, even though it’s not a good indicator on the health of the economy.

For whatever reason a lot of people think that the president directly impacts the stock market and I honestly don’t know where trust myth originates. It’s kind of like crediting Santa when your parents bought you presents for Christmas. But even in the war room I’ve seen people making this over simplified comparison. It is usually one side of the political spectrum that makes it too, though I can’t say if both sides believe the president is the driving force or if it’s just that Republicans care more about it than Democrats do and that’s why we hear them bring it up more.

I really only commented because I wish people would stop saying it

People also need to keep in mind relatively few Americans even own stock. Even with how seemingly popular it is nowadays, with all the Robinhood/Reddit GME etc stuff going on, only 56% of Americans own stocks, which is actually still down from before the Great Recession. From Gallup:

 

[Blayt7hh]

People also need to keep in mind relatively few Americans even own stock. Even with how seemingly popular it is nowadays, with all the Robinhood/Reddit GME etc stuff going on, only 56% of Americans own stocks, which is actually still down from before the Great Recession. From Gallup:

That’s interesting to see that if dropped after 2008 crash and still hasn’t recovered

 

[Rand M Arthur]

It's a bubble, driven by all the cash the investor class have and the low confidence in the dollar.

Trumps's bull market was a bubble driven by stock buybacks too, but the corovirus provided cover for the pop, and then opening up the printing presses kicked the can down the road.

 

[chardog]

market is a bit scary right now, down 10K and it sorta hurts...... thanks biden

 

[Ichibanner]

Good job Biden!

Now get to work on inflation since poor people can't eat publicly traded stocks and beef prices rising by 14% is a greater concern to them.

 

[ShadowRun]

Yea Biden

 

[ultramanhyata]

I don't think neoliberals think that the stock market is the preeminent gauge of the economy's health, though the term is vague enough that there could be exceptions.

Coverage of Wall Street's performance by the MSM blatantly says otherwise.

 

[DavidsGhost]

Stocks have been similarly volatile during Biden and Trump.



wanna red pill yourself?



the president has little control over the economy! Yippie

 

[Jack V Savage]

Coverage of Wall Street's performance by the MSM blatantly says otherwise.

It really doesn't, and that's an odd definition of "neoliberal."

 

[SBJJ]

Not sure if this is a troll thread.

DJIA is up about 9% since Biden took office, nothing extraordinary. And it really looks as if a correction is starting.