this post was submitted on 19 Nov 2023
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politics

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The last time this happened, voters didn’t credit Bill Clinton. That may be a bad omen, or a good one.

If the stock market chose presidents, Joe Biden would be a shoo-in for reelection in 2024. The market rallied this month amid growing optimism about the economy, with the S&P 500 zooming 1.9 percent Tuesday on news that the consumer price index rose only 3.2 percent in October (compared to 3.7 percent in September). Stocks rallied again Wednesday on news that the producer price index fell 0.5 percent. Commentators are no longer debating whether the economy will experience a “soft landing” (i.e., a reduction in inflation without recession). The only question now is when it will arrive. The S&P 500 seems to have decided it’s already here.

But the stock market doesn’t choose presidents. Voters do, and polls continue to show they think the economy is in terrible shape. A Financial Times–Michigan Ross Nationwide Survey conducted November 2–7 is absolutely brutal on this point.

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[–] HerrBeter 17 points 1 year ago (1 children)

Market is holding on for dear life, banks getting bailou- I mean emergency loans. Bond markets are shit, it's all just show. China has been collapsing too ever since evergrande went bankrupt in like 2021.

And it all started when they shot that damn gorilla.. drags cigarette

[–] doingthestuff 11 points 1 year ago (1 children)

I'm in Cincinnati with my dick out.

[–] 1847953620 8 points 1 year ago

one true patriot