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JUST IN: Biden’s Senior Economic Advisor Resigns After Market Crash — Will Work for Harris Campaign
https://www.thegatewaypundit.com ^ | 08/5/2024 | Cristina Laila

Posted on 08/05/2024 10:07:19 AM PDT by bitt

Joe Biden’s senior economic advisor Gene Sperling resigned on Monday after stocks tumbled around the world.

Japan’s Nikkei lost 4,451 points on Monday, its biggest single day loss since 1987.

The ‘Magnificent Seven’ will shed $1 trillion in value, Reuters reported.

Apple and Nvidia led the sell-off.

The DOW tumbled more than 1,000 points on Monday.

Gene Sperling stepped down as Biden’s senior econ advisor to go work for the Harris campaign.

“Under Gene’s leadership, the American Rescue Plan has delivered economic relief to cities and counties across the country, protected millions of union pensions, made the largest-ever federal investment in public safety, and kept thousands of small businesses afloat,” Biden said

Full statement from Joe Biden:

When I took office, our economy was reeling, a pandemic was raging, and hundreds of thousands of small businesses across the country were at risk of shutting their doors. Having run Recovery Act implementation for President Obama, I knew I needed an American Rescue Plan Coordinator with the expertise and experience to hit the ground running. I’m glad I picked Gene Sperling.

Gene joined my administration as the only person to have ever directed the National Economic Council under two presidents, and has helped me execute a rescue plan that has led to one of the most equitable and resilient economic recoveries ever. His work helped nearly 40 million working families get unprecedented child tax cut relief and over 8 million renters get emergency assistance to help keep their families housed. Under Gene’s leadership, the American Rescue Plan has delivered economic relief to cities and counties across the country, protected millions of union pensions, made the largest-ever federal investment in public safety, and kept thousands of small businesses afloat.

I also looked to Gene as a trusted advisor on the economy and gave him some of the toughest assignments, including serving as my liaison to the Big 3 automakers and UAW as autoworkers fought for – and secured – record contracts.

Having traveled from Delaware to D.C. every day during my Senate career, I know a thing or two about long commutes. I’m grateful to Gene’s wife Allison, his children Nina and Miles and his godchildren Derick and Samantha for allowing Gene to lend me his wisdom, his counsel, and his friendship. They should know our nation is stronger and more just because of the families that Gene has spent every day fighting for over the past three-and-a-half years.


TOPICS:
KEYWORDS: bidenadm; genesperling; kamala; marketcrash
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1 posted on 08/05/2024 10:07:19 AM PDT by bitt
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To: null and void; aragorn; EnigmaticAnomaly; kalee; Kale; AZ .44 MAG; Baynative; bgill; bitt; ...

dow is -898 right now..


2 posted on 08/05/2024 10:08:34 AM PDT by bitt (<img src=' 'width=30%>)
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To: bitt

IOW< ‘I’m not even good enough for Joe Biden’s Administration, but hey, Kamala, I think I’m good enough for you!”


3 posted on 08/05/2024 10:09:03 AM PDT by lee martell
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To: bitt

will work for (Ineligible) Harris campaign?

after wrecking the stock market?

ha ha ha ha ha

well at least he’s qualified to work for the (Ineligible) Harris campaign! he’s proven he’s got what she wants


4 posted on 08/05/2024 10:11:39 AM PDT by faithhopecharity ("Politicians aren't born, they're excreted." Marcus Tullius Cicero (106 to 43 BCE))
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To: bitt

How appropriate. He goes from one rat-infested sinking ship to another.


5 posted on 08/05/2024 10:11:52 AM PDT by mass55th (“Courage is being scared to death, but saddling up anyway.” ― John Wayne)
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To: bitt

Ah, he’s after the Gold Medal in the sought-after “multiple and continuous failure” award. He has active competition from EVERY Biden Clown Show loser.


6 posted on 08/05/2024 10:12:25 AM PDT by Da Coyote
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To: lee martell

Makes perfect sense ... but only if you’re an America-/American-hating, anti-capitalist member of the Democrat/Communist Party.


7 posted on 08/05/2024 10:13:02 AM PDT by glennaro (2024: The Year of The Reckoning, lest our Republic succumb to the "progressive" disease of the Left)
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To: bitt

Out of the frying pan and onto the burning spatula.
(or something like that...)


8 posted on 08/05/2024 10:16:05 AM PDT by null and void (I identify as a conspiracy theorist. My personal pronouns are told/you/so.)
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To: bitt

It’s not even September.


9 posted on 08/05/2024 10:19:33 AM PDT by AndyJackson
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To: bitt

Ouch...My daughter has all kinds of retirement monies in stocks.


10 posted on 08/05/2024 10:21:47 AM PDT by Sacajaweau
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To: bitt

Absolute personification of the Peter Principle. Rising to the level of one’s own incompetence.


11 posted on 08/05/2024 10:29:28 AM PDT by donozark (Presbyterians wear elbow patches and drive on recapped tires.)
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To: bitt

Perfect.


12 posted on 08/05/2024 10:30:57 AM PDT by Pajamajan (Pray for our nation. Pray for President Trump. Never b"e a slave in a new Socialist America.)
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To: Sacajaweau

Historically you don’t lose until you sell. The market will come back.


13 posted on 08/05/2024 10:40:55 AM PDT by JayGalt (Fight! Fight! Fight!)
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To: bitt

The market according to the Dow is down 4% this last week after recording gains throughout the year. The author should us the term correction and not market crash, but then of course that would take away from the rhetoric.


14 posted on 08/05/2024 10:43:30 AM PDT by Retain Mike ( Sat Cong)
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To: bitt

Prices of houses and stocks got to absurd levels.

There are corrections underway.


15 posted on 08/05/2024 10:45:28 AM PDT by Brian Griffin (Ask Congress to send middle class property/income tax cap amendments to the states.)
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To: JayGalt

They’ve already retired...They need “X” to supplement their SS..and only my son in law is collecting right now. She’s 60.


16 posted on 08/05/2024 10:46:39 AM PDT by Sacajaweau
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To: Sacajaweau

That is difficult. I anticipate that if Trump wins the markets will be much better by 2nd quarter 2025. They all have to have their hissy fits first.


17 posted on 08/05/2024 10:49:10 AM PDT by JayGalt (Fight! Fight! Fight!)
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To: bitt

“when I am president, I will take on price gouging and bring down costs; I will ban more of those hidden fees and surprise late charges that banks and other companies use to pad their profits; I will take on corporate landlords and cap rent increases; and take on Big Pharma and cap the cost of prescription drugs for all Americans.”

https://www.whitehouse.gov/briefing-room/speeches-remarks/2024/07/31/remarks-by-vice-president-harris-at-a-political-event-houston-tx/


18 posted on 08/05/2024 10:51:34 AM PDT by Brian Griffin (Ask Congress to send middle class property/income tax cap amendments to the states.)
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To: bitt

Economic Catastrophe? Rule#1. Deny Deny Deny


19 posted on 08/05/2024 11:05:33 AM PDT by griswold3 ( Robespierre and Pol Pot were “unburdened by what has been” Harris the "Year Zero" candidate)
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To: bitt
Its the KAMALA KRASH !

Traders realized that Kamala is serious about being elected and it was sell, sell, SELL!




20 posted on 08/05/2024 11:12:03 AM PDT by Candor7 (Ask not for whom the Trump Trolls,He trolls for thee!),<img src="" width=500</img><a href="">tag</a>)
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