As Americans look to turn the page on what was one of the worst years in decades, Joe Biden has chalked up another grim milestone.
Despite plentiful proclamations that his big-spending, big-government policies had saved the economy, the stock market has officially closed out its worst year since 2008, when the nation nearly suffered a financial collapse. The S&P 500 finished a whopping 19.44 percent down, while the DOW knocked off 8.78 percent. The NASDAQ melted off 33.10 percent as tech stocks took a beating.
BREAKING: Wall Street records worst year since 2008, with S&P 500 finishing 2022 down nearly 20% – CNBC
— Breaking911 (@Breaking911) December 30, 2022
I’m sure we’ll be back to pretending the stock market is just for the rich in no time, but that wasn’t the Biden administration’s narrative during happier times. White House Chief of Staff Ron Klain infamously dropped this brag in 2021.
— Ronald Klain (@WHCOS) November 2, 2021
Biden himself also lauded his supposed brilliance, taking credit for the stock market rising in 2021, though he’s nowhere to be found on the past year’s massive losses.
Happily for Democrats, Biden has claimed his bragging rights. Even better, he’s trolling Trump with Trump-like swagger. “The stock market is surging,” Biden crowed in a speech honoring labor unions. “It’s gone up higher under me than anybody.”
A “Trump-like swagger,” they confidently proclaimed, as if someone’s presidency ends ten months into their term. Though, to be fair, many probably didn’t think Biden would make it this far.
Well, where’s that swagger now? Because normal Americans are getting absolutely crushed between their retirements dropping like a stone and inflation continuing to run punishingly high. When you look at the cumulative effects of the president’s tenure, it’s a murder scene of bad news. Americans are stuck paying about 14 percent higher for goods and services today than they were the day Biden was elected, and millions have had to delay their retirements due to their investment accounts taking hits as high or higher than 25 percent.
Then there are the interest rate hikes, meant to cool inflation. Those have made it impossible for most Americans to purchase a home or finance business opportunities. Speaking from personal experience, the fact that I’ve got too much cash tied up in the market, coupled with current interest rates, has forced me to completely change my plans. My only saving grace is that I’m young enough to wait it out. I feel for those at retirement age who now have to spend several more years that don’t have time to try to recoup their losses.
No worries for Biden, though. He and his family are currently vacationing (again) in St. Croix on another partially taxpayer-funded trip. The president is living the life he always dreamed of, and all it cost Americans was nearly everything.
Really, it’s hard to imagine how Biden’s second year in office could have been worse. The economic woes have been bad enough, but then you have to consider that Russia literally invaded Europe and that the Souther Border is at full-blown crisis levels. Never mind the cultural decay that has occurred, which is at top of mind for many, especially parents.
2022 has been an absolute disaster, and the buck stops with one man: Joe Biden.