By CASEY HARPER | THE CENTER SQUARE
The U.S. stock market took a major dive Monday as Japan saw its worst stock market day since 1987, raising recessing fears and drawing fresh criticism for President Joe Biden and Vice President Kamala Harris.
As of Monday morning publication, the Dow had dropped 99 points and the Nasdaq a whopping 4%, which experts say is fueled by a fear of a coming recession.
Federal jobs data released on Friday showed far fewer jobs were created than expected.
Overseas conflicts between Russia and Ukraine, possibly imminent all-out war between Iran and Israel and the ongoing threat of a Chinese invasion of Taiwan are also constant stability concerns for global markets.
Former President Donald Trump released a flurry of posts blaming Harris, the presumptive Democratic nominee, for the market downturn, labeling it the “Kamala crash.”
“This is a preview of the world markets without Donald J. Trump in the White House. None of this happens if Trump is in. Kamala and the markets don’t go together,” Trump said in a post online Monday morning. “She’ll destroy the markets. She’s in power now and look at what is happening. One week of the fake media saying better polls and you get a market crash.”
In 2020, Trump predicted that if Biden were to win reelection, the stock market would “crash.”
“Of course there is a massive market downturn,” Trump said. “Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole. Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”
Sen. J.D. Vance, R-Ohio, Trump’s pick for Vice President, warned that the economic situation could get much worse if it is not handled well.
“This moment could set off a real economic calamity around the globe,” Vance wrote no X, formerly known as Twitter. “It requires steady leadership–the kind President Trump delivered for four years. Kamala Harris is too afraid to answer media questions and cannot lead us in these troubled times.”
Renowned investor Warren Buffett of Berkshire Hathaway said over the weekend that he had sold over half his stock in Apple, which subsequently saw a 5% decrease in its stock price.
“He is clearly expecting a correction of some kind or otherwise simply cannot see better investments than Treasury bills,” Billionaire Elon Musk wrote on X Sunday in response to the news. “The Fed needs to drop rates. They have been foolish not to have done so already.”
The closing price for the Dow Jones Industrial Average (DJI) on January 20, 2021, the day Biden was inaugurated, was 31,186.20. So we’re up around 33% in 3.5 years. Not bad.
And those dollars you put in are now worth more than33% less in purchasing power. That’s what is really important its not the number of dollars on the statement.. Its what you can buy with them!
Congratulations, you’re now in new, higher tax bracket!!! Doesn’t matter that you haven’t sold… They want it anyway. “Unrealized capital gains” you filthy plutocrat!!!
Please explain to the folks here on MRAK exactly how Biden in the White House benefitted the stock market?
What executive orders did the President sign that caused the markets to rise? What legislation did he push for that resulted in higher markets?
Unless you can point to a direct cause leads to effect relationship between Biden and the stock market, your comment is meaningless.
Amazing. Grandpa Bloodstains destabilized the world security and economy in 3+ years.
He wanted to be historic. He got it. Even Jimmy Carter couldn’t pull this off.
What? Just last week I saw a picture of the kackling Klown on Mustread with a clip below it saying “Bidenomics is working”
I didnt know she meant the economy was working its way down the drain.
The globalists want their one world CBDCs and they will do anything to get it. We are living through Biblical history in the making. And this NWO will be formed. There is no stopping what God has already started. Buckle up because this second wave, (covid being the first), will be extremely painful. Get right with Jesus because without Him you will loose hope and not survive the next 4 years. Remember there is no physical solution to a spiritual problem. This ship, AKA America, is sinking and no one will stop it it. Not even Trump. There can only be delays in the process to bring more people to repentance. Jesus doesn’t want anyone to perish. We are going to war and it won’t be overseas. The economy is going to crash and famine and more plagues are coming. We ain’t seen nothing yet.
Jesus would tell you to live each day and prepare for the worst.
Don’t wait on Him to rescue you. Rescue yourself.
I am more prepared than most. I have seen this all coming for decades. I knew Covid was coming when Obama put pandemic preps into play during the beta test release of ebola in western Africa. I know how these criminals operate and i have read their game plan. So I wasn’t looking for toilet paper, food and medicine during 2020 like the masses. I already had my house in order. I always say hope for the best but prepare for the worst. But I can’t stress enough that massive war and death coming to America and the west; therefore get your relationship right with Jesus because in the end all the preps won’t matter if a person ends up in hell. Jesus is the most important. Repent and surrender or perish for eternity. Your preps and yourself will never save you. Everything you have can and will be taken from you so what will a person have once they have nothing left to lose?
The Kamala Crash. Love it.
OH MY GOD THE SKY IS FALLING WE’RE ALL GONNA BE POOR! WHAT DO WE DO? TRUMP IS OUR ONLY SAVIOR!
Trump, the guy who wanted the economy to crash so he could “save” it. Trump in January 2024, “When there’s a crash, I hope it’s going to be during this next 12 months because I don’t want to be Herbert Hoover. The one president – I just don’t want to be Herbert Hoover.” How about hoping that the economy doesn’t crash?
Seek help. Your hysterical rants are old.
Buffet sitting on cash reserves of $277B, cashing out of positions at the top, and awaiting to acquire quality stocks on the cheap, smart and strategic move! … “BRK-B” might be a good – wise investment in the near-term.
So the small drop today is due to Bidenomics but the big rise in the past four years is not due to Bidenomics. There isn’t any logic in this.
There is, you just won’t see it.
Trump got significant tax cuts passed when he was POTUS. Those tax cuts expire Dec 31, 2025. The markets have observed Harris polling well, and are adjusting appropriately.
If Cackles were to win, we can expect:
1. Higher indiivdual tax rates.
2. Higher capital gains taxes.
3. Higher death taxes.
4. More penalties for gift taxes.
All of these will go higher, autotmatically, Dec 31, 2025.
Harris has no understanding of econmics, and is a pro tax leftist. Markets are tanking, as expected.
I hope the Financial market crashes.
Then we can start over all the freeloaders would have to find another country to get their free stuff.
This slow spiral of Financial death is taking a long time and is going to hurt more the longer it goes on.
Remember who is causing this to happen.
While I agree with you, it is going to be hard to see so many people/families that did not prepare…at all. I have a couple of neighbors that have their heads in the sand and have done so very little in the way of preparation. It will be hard witnessing the lack of preparation. Would be a good time to get out of Dodge until everyone is done starving to death that will starve to death.
Thanks uniparty your doing a great job destroying our country!
Last week the moron was touting how great the economy was and how many jobs he has created. All I see is stressed out young people at the grocery stores counting their pennies.
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