General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsStock Market struggling today (DOW -800 so far)
Reaction to Trumps new tariff threat and to the EU saying enough is enough.
Now Trump and his oligarchy owned media won't stop crowing about the stock markets and your 401K, like this is some unprecedented. It's not, it's a solid year, but not spectacular.
The DOW as an example is up 9.2% in the 13 months since he took office. It's up 8.2% from the Biden highs. It's good gains, about average, but this isn't some banner 13 months of 20% gains. Average return is 10.4% yearly the last 30 years. So we're just below average.
So the next time you hear someone talking about how amazing stocks are, remember that we're seeing slightly below average returns the last 13 months. The market goes up, it's what it does over time, so some new milestone like 50,000 for the DOW or 7,000 for the S&P isn't really meaningful.
I keep hearing the media and message board posters talking non stop about some crazy run in the markets that just isn't really there. It dominates the conversation when we're seeing the jobs market tank epically and growth slow to a crawl. Don't let them skew the narrative on this. Joe Biden had a better economy that Trump by every measure. By real wage gains for working people, by job growth, by GDP growth, and yes, by stock market growth. Trump and his economy killing tariffs have done long term damage.
spooky3
(38,476 posts)Than did US markets.
Johnny2X2X
(23,930 posts)US markets only did well because we followed the trend of the global economy.
I don't expect the corporate media to report the actual facts regarding the Biden vs Trump economies, Bidens was better in every possible way, especially for the Middle/working Class. But getting the truth out here is a way we can combat the corporate media.
If Biden had these jobs and GDP growth numbers, the mainstream media would be spending 90% of their time demanding he resign.
Happy Hoosier
(9,472 posts)Johonny
(25,873 posts)And they don't want tariffs . . . Taco usually breaks, so let's see how low it goes before the TACO move.
Johnny2X2X
(23,930 posts)It's been 13 months of uncertainty and risk. Jobs market collapsed with virtually no jobs added in all of 2025. GDP starting to lag.
If Biden would have added 184,000 total jobs in an entire year like Trump just did, the media would be staked out outside the White House covering the mob with literal torches demanding Biden resign. It would be 24 hour coverage of the calls that Biden resign.
Johonny
(25,873 posts)Most people trusted him more than Trump. A lot of uncertainty right now and more tariffs at 10 or 15 or what ever diaper rash number is not what people want. They want an end to the trade war. They don't care about his trophy case.
Johnny2X2X
(23,930 posts)People can argue about the Fed until they're blue in the face, but the fact is that the Fed has navigated countless calamities and downturns while delivering a largely stable economy for generations. Getting some zealot in there who would politicize things could be a disaster, like a 2nd Great Depression level of disaster.