The last time this happened, voters didn’t credit Bill Clinton. That may be a bad omen, or a good one.

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.

  • @SCB
    1•1 year ago

    lack of meaningful and timely wage increases for decades

    Gee, if only there was some way to mandate some sort of guaranteed wage… maybe we could call it a minimum… wage… yeah he’d have to work with congress to get that done. But that’s… kinda part of his job.

    1.4% of Americans are on minimum wage so I’m not sure this will have the impact you think it will.

    I dunno, he certainly could go after monopolies, breaking up companies like walmart, kroger, cargil, and amazon, and all the other joints that have the power to fix prices

    This is going to need some proof.

    • squiblet
      2•1 year ago

      Apparently Walmart and Kroger BOTH have a monopoly on grocery retail.