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.
He ran on being able to work with them. Which was a giant crock of shit, just like all the “he’s the most progressive evar” nonsense we’re expected to buy now.
Who would have believed that? Republicans supporting a Democratic president and helping pass legislation? It was hard enough to get Manchin, a supposed Democrat, to go along with it and typically zero Republican senators will.
And yet, it’s what Biden ran on.
Biden ran on “elect someone but Trump jfc”. Just like the republicans had no stated platform for 2020, he didn’t really need one besides that.
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