And Biden will blame it on Trump.
I’m in Rhode Island.
The price of a loaf of decent bread can be $4 to $7 a loaf.
In Barcelona I paid .99 Euros for a great loaf of bread at Carrefour. The beard was being put out and it was warm and the crust was crisp.
Food is about twice as expensive as it was in Spain.
.
The discount rate at which future expectations are "present valued" gets really high when the future looks uncertain...and the present value estimate (i.e., the stock market) goes down as the discount rate goes up.
And, boy-oh-boy, do we have a lot of uncertainty right now.
When gold took a big dip back in October, I made a six-figure sale of stocks and bought gold bullion from a local dealer. No more stocks for me.
The Trump economy was so strong it took them a couple years of hard work and waste to finally destroy it....
> the Biden administration’s spending imperils every American <
I must gently object to that statement. Biden could not spend wildly without the help of Republicans in Congress. Also (and it pains me to say it) when Trump was in office spending followed the same upward trajectory as when Obama was president.
This is an equal-opportunity problem. Absent someone like Rand Paul taking change, I see no solution. So some sort of crash seems inevitable.
So what are the markets saying about Biden?
Janet is Yelling and scraming to print 1T USD a week in order to float this admistration across the finish line.
How could the markets go down when the currency is being devalued and pumped at a rate Italy in the 60s would have been proud to sustain.
The fleecing of Americn has turn into outright theft and rape of the economy. The democrats are throwing a fit as they are being shown the door.
The DNC went for broke in turning this nation into a communist hellhole. They may have suceeded for the moment, but the markets will not crash until they someone stops printing the ca$h.
Time to roll out the American Dollar - the Americans North-South heir to the EUro.