The last time this happened, voters didn’t credit Bill Clinton. That may be a bad omen, or a good one.
If the stock market chose presidents, Joe Biden would be a shoo-in for reelection in 2024. The market rallied this month amid growing optimism about the economy, with the S&P 500 zooming 1.9 percent Tuesday on news that the consumer price index rose only 3.2 percent in October (compared to 3.7 percent in September). Stocks rallied again Wednesday on news that the producer price index fell 0.5 percent. Commentators are no longer debating whether the economy will experience a “soft landing” (i.e., a reduction in inflation without recession). The only question now is when it will arrive. The S&P 500 seems to have decided it’s already here.
But the stock market doesn’t choose presidents. Voters do, and polls continue to show they think the economy is in terrible shape. A Financial Times–Michigan Ross Nationwide Survey conducted November 2–7 is absolutely brutal on this point.
y’all can quote me economic statistics all day, what I know is that in the last few years I’ve gotten two promotions with raises and I still have less left over at the end of the month than I did before covid.
This is the truth. The fact that this is all due to inflation that was caused by Federal Reserve money printing during the Trump administration will be lost on most people.
Granted that was all due to COVID (and exasperated by ignoring it for a time), but still, Biden will be blamed.
Biden does bear some blame though. He repaired the economy for the top 10 percent. Even an acknowledgement that it’s not done or that Congress is blocking things that would help the rest of us would help him.
Instead it’s another round of, “my rich friends are happy, why aren’t the people voting for me?”
Because to him and everyone else at the top it’s just them in their walled gardens and we really are just numbers. It’s basically impossible to really comprehend our lives from theirs.
Granted that was all due to COVID (and exasperated by ignoring it for a time), but still, Biden will be blamed.
Worse most of it came from over 17trillion given to the banks before covid during trumps administration. This started the inflation climb which was then exacerbated by covid and supply chain issues. And you have the cftc prolonging swap reports almost endlessly to hide short positions being built in equity swaps with those banks. But no one will look to the fed reserve because it was “Biden’s fault” not wall street making bad bets again and getting another handout to balance collateral.
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Clearly a signal that you can switch jobs.
“the market has spoken”
Probably because 90 percent of voters don’t live off of stock dividends or stock backed low interest loans.
Maybe it’s time to stop pretending the stock market is the economy?
I heard your comment in my head in the voice of Kai Ryssdal.
I don’t know if that’s meant as a compliment or not but I like the idea of having a radio voice so I’ll go with it.
The Democrats’ propaganda game is miserable in 2023. The big difference is that Clinton promoted himself effectively. Remember when George Stephenopolous called George HW Bush on Larry King’s show back in 1992, just to humiliate him? Remember Clinton’s bulldog communications officer, James Carville? Back in the 1990s, Democrats knew how to puff up their accomplishments and tear down their opponents. Now, they’re too timid to try. Time to drop this pathetic facade of objectivity and civility and fight, HARD. Their lives as a political party depend on it. OUR lives depend on it.
The Democrats have been bringing spoons to a gunfight since the 70s.
You mean there is a flaw to the strategy of repeating, “listen, Jack, the economy has never been better, and you’re an idiot if you don’t see that”?
The current Democratic party doesn’t want to fight. It’s pathetic, and it is difficult to vote for “pathetic” even when the alternative is… well… you know.
In a just world the news shows would have a real income ticker instead of the Dow.
Or some other tracker that shows values actually relevant to the average American.
I’m voting for that Dark Brandon guy.
I’d write in dark brandon as a bit if joe wasn’t running against the ronald mcdonald of fascism
That is a wonderful description.
Lets not forget that while the stock market doesn’t define the economy it certainly affects it. When stocks are down, companies freeze or lay off employees, raise prices or change their products. Everyone’s still complaining about grocery prices but the real win here is that it’s not worse, which it was predicted to be over and over
He does genocide BUT the stock market went up!
One doesn’t do genocide. One commits genocide.
Also no, Joe Biden does not commit genocide lol
