The Dow Jones Industrial average came crashing down below 30,000 Friday, officially making the stock market worse off today than it was when President Joe Biden took office in January 2021. The bull market is gone and the bear market is here.
UPDATE - Dow Jones continues to fall, now trading below 29,500 — substantially lower since Joe Biden took office.
— Disclose.tv (@disclosetv) September 23, 2022
The numbers come as the U.S. is in a recession, despite White House claims the economy is strong. Inflation continues to rage and the housing market is cratering as the Federal Reserve continues to raise interest rates.
Dow falls 500 points, S&P 500 and Nasdaq fall 2%, as Wall Street worries the Fed will steer the economy into a recession https://t.co/bOMLb6Gdie
— CNBC Now (@CNBCnow) September 23, 2022
Joe Biden's "best recovery ever" has Americans scrambling to make ends meet and food banks that help Americans in need struggling to keep enough groceries in stock.https://t.co/VvPoLPMzB8
— Spencer Brown (@itsSpencerBrown) September 22, 2022
The Fed announced a 75 basis point interest rate hike — the third consecutive .75 increase and the fifth hike of 2022 — and said there are more increases to come before the end of the year as Chairman Powell tries to force 8%+ inflation down to just 2%. https://t.co/NT3GBztLao
— Spencer Brown (@itsSpencerBrown) September 21, 2022
When asked about the current economic downturn and inflation, driven by Democratic spending, President Joe Biden brushed the issue off as a minor problem during an interview with 60 Minutes last weekend.
President Biden had the audacity to go on 60 Minutes and downplay the worst inflation this nation has seen in 40 years.
— Erik Aadland for Congress (CO-7) (@AadlandforCO) September 19, 2022
Meanwhile the average Colorado household is paying $953 more PER MONTH compared to Jan 2021.
Why won't you take inflation seriously Mr. President?@POTUS pic.twitter.com/oypunp0mr4
One of the most effective ads of the midterm cycle would be a simple reminder telling everyone to check and see what Joe Biden did to their 401k.
— Matt Whitlock (@mattdizwhitlock) September 23, 2022