Posted on 05/19/2022 5:26:20 PM PDT by Kaslin
The monster 1,160 point stock drop on the Dow Jones Industrial Average Wednesday, the highest drop since the advent of the pandemic in 2020 was kind of a ... nothingburger for the Biden White House.
According to the Washington Examiner:
The White House downplayed Wednesday’s drop in the stock market and defended the Federal Reserve’s independence after interest rate hikes to curb high inflation.
The Dow Jones Industrial Average fell 1,160 points in the worst day of trading since June 2020 as investors expect further rate increases despite assurances from Federal Reserve Chairman Jerome Powell. Many economists think the Fed has been too slow to act to control the price spikes.
“Nothing has changed in how we see the stock market,” White House press secretary Karine Jean-Pierre told reporters at Wednesday’s briefing. “That’s not something that we keep an eye on every day.”
Seems the Sleepy Joe White House is doing its sleeping. And why wouldn't they? The private sector is full of price gougers, tax cheats, hoarders, wreckers, and other bogeymen of the left. It's not about people's 401(K)s, which is how normal Americans see it. Of course they don't watch stocks, unless perhaps they are in Congress and there's some inside trading to be had. Joe, of course, watches money matters intensely too no matter what he claims as a matter of feathering his nest. The abandoned Hunter Biden laptop emails reveal that well enough.
Besides that, Biden has this pattern as the defining feature of his presidency -- ignoring events, dismissing anyone warning about them as a conspiracy theorist or callin the problem non-existent or all in our heads -- until it gets too big to ignore. We've seen this in Biden's organization of the Afghanistan pullout, in his COVID response,
(Excerpt) Read more at americanthinker.com ...
Wonder what they’ll say if the Dow keeps falling to 25,000 later this year and a recession arrives. They can’t blame Trump or Putin for that.
Let’s face it. Politicians are not the cream of the crop, and they should never be put in charge of an economy.
Hogwash!
Don’t worry. There won’t be a recession. Dem’s will just change the definition of recession to suit their Lies.
They don’t keep an eye on gas prices either.
There's ZERO confidence in the market or the ByeDone economy right now, so expect a bottomless drop!
Noted
Keep digging
“They can’t blame Trump or Putin for that.”
They can. They will. “81,000,000” will believe them.
Down With People
Up With we
The commercials write themselves for the midterms
Markets are way beyond the capabilities of the current administration and the DNC.
They have yet to grasp the concept of inflation due to printing money.
Heck , they think men can get pregnant!
You bet, just like our borders.
“They have yet to grasp the concept of inflation due to printing money”
They will continue to raise the dept limit and print extra money on top of that. The money they print eventually rolls into bidding up the price of homes and stocks. Where else can it go?
File this in the pile marked “transitory inflation”.
Don’t worry. There won’t be a recession. Dem’s will just change the definition of recession to suit their Lies.
—
That sounds crazy, but why not. After all,l the definition of “vaccine” was changed.
Why should they watch it? Potato Head is not the only one in the WH that wouldn’t have a clue what they were looking at.
And they have no idea what critical businesses the FDA is shutting down either.
Let me know when it gets back down to 5000. That is more than it is really worth. It nothing but a casino now.
DNC wouldn’t miss the drop if Trump were prez.
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