No. of Recommendations: 20
Dope1: The economy has been weak for a while; the stock market is finally deciding that a lot of the AI boom is meh in terms of making money outside of NVIDIA and that the Stronk Jobs Market was really the government hiring people to dig/fill in ditches.
Gee, the federal government hired 16.6 million individuals? Where'd you get that nugget of wisdom... the Trump Cult newsletter?
Biden added jobs for 48 consecutive months, tying the second-longest period of employment expansion on record and was the first US president to oversee monthly job gains for the entirety of his presidency.
Biden took the unemployment rate from Trump's 6.4% and brought it down to 4.1%. The unemployment rate hit a nearly 54-year low of 3.4% in January 2023.
Real GDP growth and GDP per capita were both running at their fastest pace during a presidential administration transition since 2000.
From Biden’s inauguration on January 20, 2021, to January 16, 2025, the S&P 500 had a total return (including dividends) of 63.77%. Today, the Nasdaq is down 4.8% and the Dow is down 1100 points.
During the last two years of the Biden presidency, the S&P 500 posted its first back-to-back annual gains of over 20% since the late 1990s.
The number of uninsured Americans hit an all-time low of 7.2% in the second quarter of 2023, while the number of people who signed up for an Obamacare plan for 2024 surged to 21.3 million.
The consumer price index peaked at 9.1% in 2022 and fell to a rate of 3.1% in less than two years. In the 1970s, inflation took eight years and five months to drop to 3%.
Household net worth rose to a record $156.2 trillion at the end of the fourth quarter of 2023, from $131.4 trillion at the end of 2020.
Dope1: There's a lot of rot that needs to fried out of the economy before it gets better. Gotta re-grow all the chickens Biden killed. Gotta bake out his inflation.
"Re-grow" chickens Biden killed? Yeah, I understand Trump's going to build walls to protect them.
Inflation was 3.0% when Biden left the presidency, handing Trump a Goldilocks economy which he's destroying along with the federal government and our relationships with our allies.
He does love him some Putin, though.
The Trump cultists really are idiots.
