TJoe fell going UP the stairs to Air Force One.
He also fell down while his bicycle wasn’t even moving.
And now it appears that Joe Biden’s falling streak is extended to the economy…
Today, September 13, was a terrible day for the stock market.
Traders knew that things were bad.
But we’re just finding out exactly how bad.
It turns out that September 13, 2022 is officially in the TOP 7 worst stock market crashes in all of history.
That includes the Great Depression and the Financial Crisis.
Is this was a “return to normalcy” means to you, Joe?
Beyond that, it was also the worst day for the year.
More details below:
Will never be able to get over the image of Joe Biden speaking about how he singlehandedly beat inflation as the stock market tanks over 1,200 points on live television due to inflation.
An all time moment in the history of American presidents. pic.twitter.com/agULMywRSL
— Greg Price (@greg_price11) September 13, 2022
The stock market is presently down a thousand points after inflation hit 8.3%, much worse than expected. And Joe Biden is having a celebration at the White House to praise his administration’s response to inflation. You can’t even make this up. It’s tone deaf insanity.
— Clay Travis (@ClayTravis) September 13, 2022
This is not a cryptocurrency. It’s the U.S. stock market. pic.twitter.com/CgzCC5PNPQ
— Fintwit (@fintwit_news) September 13, 2022
Biden celebrating his awful legislation while the stock market is tanking live on-air and inflation is sky high. We aren’t a serious country anymore with these clowns in charge. pic.twitter.com/pyivWMmK1G
— Hodgetwins (@hodgetwins) September 14, 2022
Things were so bad that President Trump himself weighed in.
Talk a look at Trump’s post on Truth.
Not only is this the worst drop of the year, but it’s also the worst drop in several years!
According to Market Watch:
The Dow Jones Industrial Average closed nearly 1,300 points lower Tuesday as technology stocks led the market to its worst day since June 11 2020, following an unexpected uptick in August consumer-price inflation.
All 11 S&P 500 sectors finished in the red after the August consumer-price index, or CPI, rose 0.1% in August. Though the year-over-year rate slowed to 8.3% from 8.5% in July, economists had been looking for a monthly fall of 0.1% that would bring the year-over-year rate down to 8%.
Meanwhile, the core rate, which strips out volatile food and energy prices, rose 0.6%, for a year-over-year rise of 6.3%, outstripping expectations for a 0.3% monthly rise and a 6% year-over-year pace.
That stoked fears that inflation may be stickier than economists had expected — which in turn might force the Federal Reserve to maintain its aggressive tightening of monetary policy for longer, or at least preclude a pivot back to lower interest rates.
This is going to ruin many people’s retirement plans and strategies.
Coupled with inflation and rising food costs, it appears that a financial crisis is on the horizon.
Or maybe it’s even already here.
Could this be the very beginning?
I put my life savings in the stock market yesterday based on my excitement for the Inflation Reduction Act. Now look what happened!!
— Chef Andrew Gruel (@ChefGruel) September 13, 2022
The U.S. stock market wiped out $1.6 trillion today pic.twitter.com/KzsFvXbMli
— Fintwit (@fintwit_news) September 13, 2022
#BREAKING | The stock market fell the most since June 2020.
The Dow lost more than 1,250 points and the S&P 500 sank 4.3%. pic.twitter.com/300tNKkYyj
— El American (@ElAmerican_) September 14, 2022
Unfortunately, it appears that this IS the beginning.
One of the foremost experts on the subject is predicting a major, major stock market crash.
Per Yahoo News:
A hotter-than-expected monthly inflation report threw the stock market for a loop on Tuesday, and a top executive at the world’s largest hedge fund argues that it’s just the beginning of the pain for investors.
In an interview at the SALT hedge fund conference in New York on Monday, Greg Jensen, co–chief investment officer of Bridgewater Associates, said that the stock market hasn’t fully priced in a recession, and that the U.S. is at the center of a global bubble that has yet to burst.
The co-CIO, a three-time honoree on Fortune’s 40 Under 40 list of rising business stars, made the case that investors are overestimating the Federal Reserve’s ability to tame inflation and that ultimately asset prices will continue to fall as a result.
“I think the biggest mistake right now is the belief we’re going to return to, essentially, prices similar to the pre-COVID,” Jensen said, per Reuters.
Monday’s bearish prediction wasn’t the first time Jensen has spoken out about his fears for the U.S. economy and stock market. In August, the co-CIO told Bloomberg that markets are in the midst of a “de-globalization” trend and forecast that stocks would fall another 20% to 25% as the Fed continues raising interest rates.
But do you think that is bad?
Just wait til you hear what happens next.
Joe Biden went on live TV, and literally started celebrating the economy.
He claimed that his latest “stimulus” bill and his actions on student loans are contributing to a awesome economy.
Watch his celebration below:
Biden Throws Concert Celebrating “Inflation Reduction Act” as Stock Market Plummets pic.twitter.com/cclzj0am9J
— Breitbart News (@BreitbartNews) September 14, 2022
🇺🇸👴📉CNN: "Biden is at the White House celebrating the Inflation Reduction Act but there is this unfortunate split screen right now with the Dow taking a total beating,down 1200 points"
US stock market wiped out $1.6 trillion today… pic.twitter.com/3pZwOJfmsf
— AZ 🛰🌏🌍🌎 (@AZmilitary1) September 13, 2022
Joe Biden: *delivers speech celebrating inflation reduction*
The stock market: pic.twitter.com/NJv4ht2GK1
— Kevin McMahon (@Kevin__McMahon) September 14, 2022
Talk about being out of touch!
How elitist do you have to be to throw a concert and celebrate the economy as the stock market is literally crashing!
The New York Post confirms:
President Biden threw an “inflation reduction” party Tuesday — even as inflation hit a worse-than-expected 8.3%, the stock market tumbled and stubbornly high prices for food and housing continue to slam American households.
Biden, 79, had classic folk rocker James Taylor kick off the White House South Lawn bash with his 1970 hit “Fire and Rain” — a song reportedly about suicide and heroin addiction — to belatedly celebrate passage of his Inflation Reduction Act spending bill.
But Biden, who hailed the 74-year-old Taylor as “a voice that heals our soul and unites a nation,” failed to mention the market rout sparked by the dismal Labor Department’s Consumer Price Index released earlier Thursday.
The disappointing monthly report showed inflation continued to remain near record-high levels in August – despite a continued demand-driven decline in the cost of gasoline.
Cheaper gas was offset by steep 12-month jumps in the cost of food (up 13.5%), electricity (15.8%), rent (6.8%) and health insurance (24.3%).
The Dow Jones Industrial Average fell 4% Tuesday, or nearly 1,300 points — and CNN cut away from the presidential speech to focus on the dramatic stock stumble.
We ask a simple question:
Are you better off or worse off than you were a year ago?
Let us know in the comments section below!