The month or so market rise that ended last week coincided with gas prices going down, Manchin caving and passage of misnamed “Inflation Reduction Act”, and Biden primarily staying out of sight on back to back beach vacations. I think many overlook the stock market movement in how it effects people’s psyche.
From first of year until into July, the first bear market since 2009 bit hard. Tech off 40% or more, broad market down over 20. Millions of voters have a 401 k that has suffered and added to the high gas prices, high inflation. In July early August there was a snap back rally of more than 50 % of those losses. I think this likely aided the gains the Dems had in last month. Now I don’t deny that some of the Trump backed candidates that won with a plurality in senate races are not a problem, but seeing one’s net worth dropping does add to one’s pissoffness (coined it).
Now for all I know the market may end up for the week. But it’s down about 650 today. Most businesses now plan to cut back on hiring. The NBC poll just out shows that the majority of people think we are in a depression and believe the best days of country are behind us.
If the market tanks and it’s obvious that the economy is going into the dumper before election, it will have a profound influence on spending, employment and the election.
thehill.com
From first of year until into July, the first bear market since 2009 bit hard. Tech off 40% or more, broad market down over 20. Millions of voters have a 401 k that has suffered and added to the high gas prices, high inflation. In July early August there was a snap back rally of more than 50 % of those losses. I think this likely aided the gains the Dems had in last month. Now I don’t deny that some of the Trump backed candidates that won with a plurality in senate races are not a problem, but seeing one’s net worth dropping does add to one’s pissoffness (coined it).
Now for all I know the market may end up for the week. But it’s down about 650 today. Most businesses now plan to cut back on hiring. The NBC poll just out shows that the majority of people think we are in a depression and believe the best days of country are behind us.
If the market tanks and it’s obvious that the economy is going into the dumper before election, it will have a profound influence on spending, employment and the election.
Record percentage says US headed in wrong direction: NBC poll
Nearly three-quarters of voters in a new poll said they believed things in the U.S. were headed in the wrong direction. An NBC News poll revealed just 21 percent of voters feel the nation is headed…
thehill.com
