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This Is Biden’s Soft Landing, and He Deserves Some Credit (newrepublic.com)

submitted 11 months ago by MicroWave@lemmy.world to c/politics@lemmy.world

174 comments fedilink hide all child comments

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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[-] SmoothIsFast@citizensgaming.com 1 points 11 months ago

while Bezos will spend his buying shit up on the cheap, and will walk out of the ordeal owning everything

I love how you conviently forgot that these billionaires' values are 90% derived from stock holdings and intangible assets. They won't have money to buy up everything, liquidating their stock options would only work with buyers being able to pay Bezos out of his positions, or you know a bailout like what happened in 2008 but you seem to forget that and associate it with deflationary policies that where not happening at the time.....

That's what happened in 2008

No what happened in 2008 is before the banks that bet bad failed, we bailed them the fuck out setting ourselves up for hyper inflation where riskier and riskier behavior is rewarded at scale due to to big to fail ideologies constantly bailing out failing businesses due to the capital they control.

you people will buy it hook, line, and sinker, because you can't understand an explanation that doesn't have a bad guy.

No one is saying we need a bad guy, we are pointing out the very flawed system we operate in, while you try and defend it saying this is how it should all work, when in reality these principles you think will balance everything are avoided through captured regulatory agencies implementing loopholes for big businesses, like market maker exemptions for naked short selling, or constant bailouts for to big to fail banks.

[-] Aqarius@lemmy.world -1 points 11 months ago

No one is saying we need a bad guy, we are pointing out the very flawed system we operate in, while you try and defend it saying this is how it should all work,

Wow. Incredible. Not only do you misread what I wrote, you can't even understand what you're writing. Amazing. 100%, completely illiterate.

[-] SmoothIsFast@citizensgaming.com 1 points 11 months ago

Nice deflection turned to insult, such great literary and debate skills on display here folks. Bravo

this post was submitted on 19 Nov 2023

277 points (86.7% liked)

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