Posted on 09/26/2022 8:02:39 AM PDT by SoConPubbie
Former President Donald Trump reminded people that he predicted the stock market would "crash" if Joe Biden won the White House.
Trump took to Truth Social and posted a Sunday story from the Daily Wire, which reported that a clip of Trump arguing that the election of Biden would lead to a plummeting stock market circulated online on Friday after Wall Street saw a bloodbath.
"They said the stock market will boom if I am elected," Trump said during a 2020 presidential debate. "If he's elected, the stock market will crash."
Trump began his stock market posts with two images comparing the financials under Trump to their performance under Biden.
The first image showed Trump's stock market numbers much higher than Biden's on cumulative and annualized performances with the S&P 500, DOW, and NASDAQ.
The second image showed a NASDAQ comparison chart with Trump's trajectory skyrocketing and Biden's crashing.
A tweet on Friday by InteractivePolls included a clip from a 2020 presidential debate said:
"Nasdaq Performance 612 days in office
President Trump: +44.17
President Biden: -19.24%"
U.S. stock index futures fell on Monday, kicking off another week on softer footing, as investors worried that the Federal Reserve's aggressive push to curb inflation may tip the American economy into recession.
Reuters contributed to this story.
(Excerpt) Read more at newsmax.com ...
Dow below 30K.
“Federal Reserve’s aggressive push to curb inflation may tip the American economy into recession.”
Friggen morons.
When the Dow drops another 10+%, then we can talk about a “crash”. Otherwise, there really isn’t one.
“...investors worried that the Federal Reserve’s aggressive push to curb inflation may tip the American economy into recession.”
Investors need to stop worrying and simply prepare. A recession is required at this point, and the alternatives are much worse. We’ve been through plenty of recessions, they are a normal interlude in our economy.
To be fair, I predicted this, too. In fact, a lot of us here predicted this.
I’m pretty sure my dogs predicted this, and they’re pretty dumb when it comes to the economy.
The Dow is down about 15% from one year ago. It’s a prolonged crash and I don’t see it stopping.
“The Dow is down about 15% from one year ago. It’s a prolonged crash and I don’t see it stopping.”
It’s always been a good sign when people say that.
Housing is absurdly priced in metro NYC, metro DC, metro LA and many other places.
I’m watching for the 3 month T-bill yield to rise above the 10yr T-Bill. Then we’ll know we’re getting somewhere. The sooner we go into recession the sooner we start out and opportunities open up. Been planning for this for a year now, selling off real estate and holding bonds/cash and high paying dividend stocks.
Personally I haven't had an IRA since like 1985 or so.
I learned to trade....and that has done me well.
“Housing is absurdly priced in metro NYC, metro DC, metro LA and many other places.”
Double whammy for those places as they are losing population. The fact that we have a long-term housing shortage that isn’t improving will mitigate some of the prices declines.
This doesn’t look anything like 2008, fortunately. Much different conditions. 2008 brought great opportunities, I predict this recession will be shorter and milder, but will bring good opportunities.
What we need to see next is the 3 month t-bill invert above the 2yr Bond. It’s my most trusted recession indicator, when the 3 month inverts we are usually into the recession. It’s about 40 basis points away so it’s got some work to do.
The only way past a recession is to go through it, and the sooner it starts the better.
And he called it on the stupidity of relying on Putin for energy sources
More than anything else, the stock market is a barometer of confidence — in the future and all things. With Trump as president, one was confident he knew what was going on — and which way the winds were blowing. With Biden, nobody has that confidence that he knows where he is and where he is going — to which the denizens of places like Portland, Oregon are cheering their homeboy on.
And so there is the emergence of a new world order with Putin and Xi dictating the future — while the Mark Zuckerbergs of the world see their fortunes and empires vanish into the Metavoid. The European Union were caught offguard in thinking that Russia would collapse not getting their luxury goods in exchange for essential commodities like oil, gas, natural resources. So now they are left with the uncomfortable prospect of having to burn their currencies for fuel this winter.
Meanwhile, Biden now realizes he cannot inflate the economy into prosperity — but people actually have to be paid to produce something. That’s why we need to contract down to the essentials and the basics, and no more easy money buying things hoping the price will go up the next day and the day after — as a sustainable future.
Trump also predicted Biden would open the border which was obvious, I also vaguely remember Trump saying “Your gas prices will go through the roof, believe me” which to me was obvious as well as Biden did say he was going to war against fossil fuels. Bottom line though, is the election was stolen. Nobody will ever convince me there are more radical leftists in this country than sane people.
The DOW is down $7,000 since the first of the year.
Found some opportunities. Bought an 11-month CD this week that pays 3-1/2 percent. Last month bought one paying 2-1/2 percent. I had shifted half out of the stock market last year into cash, waiting for opportunities to make more than piddling interest in banks. Bargains happening in real estate as prices sink, invested some there last month. As Biden destroys the economy, there are opportunities opening up for those with savings.
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