Joe Biden’s economy is a complete disaster.
The Stock Market just had its worst first half since the 1970s – 50 years ago.
WSJ: Markets Suffer Worst First Half of a Year in Decades
— THE BIAS (@thebias_news) July 1, 2022
A multitude of factors conspired to generate the stock market’s worst first-half since 1970, but they all emanated from one word: inflation.
The cost of living started the year running at levels the U.S. had not seen since the early 1980s.
Worse, Federal Reserve officials, armed with full-year forecasts of “transitory” inflation that now seem almost comically inaccurate, fell behind the curve, endangering a market and economy still fragile from the Covid pandemic.
Six months later, the damage has been severe if something short of catastrophic: An S&P 500 down nearly 20%, a symbol of how risk investing across the spectrum, from crypto to IPOs and even some areas of the commodities market, has collapsed.
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