Posted on 01/02/2023 9:27:24 AM PST by SoConPubbie
You probably don’t need me or anyone else to tell you that 2022 was a brutal year for your stock portfolio. If you were planning to retire in 2023, you may want to put it off, as it may be a while before your retirement fund recovers. It turns out that 2022 was the worst year for the stock market since 2008. You remember the financial collapse in 2008, right?
In 2022, the S&P 500 lost 19.44%, the DOW lost 8.78%, and the NASDAQ lost 33.10%.
Let’s go Brandon!
Last year, Joe Biden was quick to take credit for any positive economic news (which was really the result of the economy reopening after the COVID shutdowns), including the stock market’s rise.
“[The stock market] has hit record after record after record on my watch, while making things more equitable for working class people,” Biden said back in January 2022.
Related: Alibi Biden Didn’t Inherit a Bad Economy, He Created One
Will he take credit for the current state of the stock market?
It’s worth noting here that Donald Trump predicted the stock market would crash under Biden. Once again, he was right.
(Excerpt) Read more at pjmedia.com ...
Sock Puppet’s handlers destroyed the stock market. Joementia couldn’t find his @$$ with both hands and a funnel.
6-8 years of 0% interest rate and shutting down the U.S and abroad over the flu wrecked the economy. Most everyone saw the recession coming, long before it got here.
Unfortunately, his personal brand has become poison (roughly on the same level as Nazis) to half the country, and therefore we have a paradox of an extremely effective policy executor who is nearly unelectable.
We have transcended policies into the realm of ideological tribalism. It is no longer a policy debate.
Biden warned that if you voted for Trump you’d crash the market. Sure enough I voted for Trump and the market crashed.
Uncle joe was given the mandate to destroy Trump’s economy and to put millions out of work. He has fulfilled that mandate well.
You are not completely correct. There could have been a soft landing. Energy prices played a major role causing inflation in every sector. Even the minor ones. Also, the free money that was given away showed many you don’t have to work to live. That caused employers to raise wages to attract the non lazy. Another aspect of inflation and a down economy.
Yep.
I saw a pandemic closed economy growing upon reopening.
Until an anti fossil fuel administration took over, doubling the price of fuel slowing the economy to a crawl, followed by 10yrs too late Powell’s never before seen attack on citizen’s wealth.
Total damage=$17 trillion in lost equity in the stock and bond market so far.
The notion that this was somehow baked in the cake and the most anti fossil fuel and anti business administration in the nation’s history had nothing to do with anything is not accurate.
As an aside, it is much, much, much easier to grow an economy from the bottom than after years of growth. ie not only did Obama have an incredible spot starting at an economic meltdown but Biden’s spot not that long after a pandemic was a decent too.
The voters obviously want the green new deal ..and Joe biden..with his 50 plus years of reliable government service..is the man that will achieve Americas dependency on government by the government..and for the government.
And all the drag queens sing..doot doot foot..
I wish I were an NPC and being played by the media. Unfortunately, these comments are informed by first hand knowledge from interactions with my educated, white, suburban liberal friends, many of whom voted for Bush. The boiling cauldron of sheer malice and hate they feel towards Trump is impervious to reason and argument. They would rather vote for Satan himself than Trump. They are the real NPCs we have to worry about. Cheers and Happy New Year.
While 2022 was a bad year for the stock market, the Dow is higher today than when Biden took office. Jan 21, 2021 31,188.38. Currently 33,147. That’s not great, but far from destroyed.
How far has the Dow fallen since Biden took office?
True.
This is BS....the stock market has been irrationally overvalued for years...even predating Trump.
“his personal brand has become poison”, said the Democrats and CNN.
“an extremely effective policy executor who is nearly unelectable.”
If we pick someone that the machine allows us to pick, have we won anything?
Yes, I agree but it’s a combination of many factors. It’s not so black and white. Market needed a correction 12 years ago, now we are getting it. We could’ve had a soft landing but even we on the right approved of 0% interest rates (when our guy did it) and free COVID money.
Sending billions to Ukraine is not helping either.
Mine has recovered. I’m hoping to get big gains again like a few years ago. Maybe 2023 will be the year!
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