All Stock Market Gains Erased Since Biden Took Office

[mystery-ak]

All Stock Market Gains Erased Since Biden Took Office


Sarah Weaver
Staff Writer
June 13, 2022 6:01 PM ET
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The stock market has lost all the gains it made since President Joe Biden was sworn into office, according to recent data reported by Fortune on Monday.

The S&P 500 took a sharp downturn, closing on Monday 151 points below where it was in January of 2021. The other two major indexes, the Dow Jones Industrial Average and Nasdaq Composite fell by 876 points and 530 points respectively, both below where they were when Biden took office.

Cryptocurrency has also taken a hit. Bitcoin lost 15% of its value, and Ethereum lost 16%, according to Fortune.

https://twitter.com/stillgray/status/1536441429911691264

more
https://dailycaller.com/2022/06/13/stock-market-gains-erased-joe-biden-administration/

[mountaineer]

I cannot bring myself to check our investments right now. 

[libertybele]

I cannot bring myself to check our investments right now. 

We're still getting dividends but it's a rough rough road right now.  Cash is king and people might buy into this crash (we haven't hit bottom yet)  Meeting with our advisor next week. A recession and all this crappola certainly wasn't part of planning for retirement!!

FJB!  Lets' Go Brandon!!!   

[Cyber Liberty]

I cannot bring myself to check our investments right now. 

I cannot blame you!  We totally cashed out our 401k in '18-'29 and paid dearly in taxes (never thought I would see two years of 6-figure tax bills, but there it was).  Ate up a lot in taxes, but it was still worth way more than it would now had we kept it.

Instead, we have a paid-for Castle that's in the almost-seven-figure range...much, much more than we paid for it, in a County that cannot raise Property taxes more than a few percent per two-year assessment (the Chairman of the County GOP, near to me being Vice Chair, is the Tax Assessor).

I accidentally veered into a seemingly safe place.  I did know, back in my working years, to shift the whole portfolio into a 5-year horizon a few years before my sudden and welcomed retirement..

[libertybele]

I cannot blame you!  We totally cashed out our 401k in '18-'29 and paid dearly in taxes (never thought I would see two years of 6-figure tax bills, but there it was).  Ate up a lot in taxes, but it was still worth way more than it would now had we kept it.

Instead, we have a paid-for Castle that's in the almost-seven-figure range...much, much more than we paid for it, in a County that cannot raise Property taxes more than a few percent per two-year assessment (the Chairman of the County GOP, near to me being Vice Chair, is the Tax Assessor).

I accidentally veered into a seemingly safe place.  I did know, back in my working years, to shift the whole portfolio into a 5-year horizon a few years before my sudden and welcomed retirement..

We have several tax exemptions on our home and a SOH (Save Our Home) exemption that keeps our tax base rate to when we moved to the area.  It helps.  It's the insurance that I'm worried about.  Some people are having to pay double and some even triple of what they're currently paying.  I'm glad we moved off the Gulf...still on water but fresh water and hopefully our insurance won't jump up a much.

[mountaineer]

Our advisor called a few weeks ago to suggest moving some assets to a CD, so we did. At least for now, it might be better to have cash than stocks or mutual funds.

[DB]

Cash is being devalued at the rate of inflation.

[mountaineer]

Cash is being devalued at the rate of inflation.

True.

[mystery-ak]

Biden ‘really aware’ of stock slide that erased all gains since Trump: White House
 By Steven Nelson   
June 13, 2022 7:14pm

President Biden is “really aware” of the recent stock market decline, White House press secretary Karine Jean-Pierre said Monday when asked about the fact that the Dow Jones Industrial Average has lost all of its gains since Biden took office.

The Dow closed Monday at its lowest point since January 2021 as soaring inflation and rising interest rates spur fear of an economic recession.

Before the recent stock slide, Biden often touted the market doing well, though he usually made a point of saying that he didn’t regard it as the only important economic indicator.

For example, Biden said Jan. 7, “the stock market — the last guy’s measure of everything — is about 20% higher than it was when my predecessor was there. It has hit record after record after record on my watch, while making things more equitable for working-class people. At the same time, we’ve created jobs, reduced unemployment, raised wages.”

On Monday afternoon, Fox News correspondent Peter Doocy confronted Jean-Pierre with that quote, saying, “President Biden once bragged about the stock market hitting ‘record after record after record on my watch.’ How about now?”

“All the gains from President Biden’s time in office have been wiped out,” Doocy added.

more
https://nypost.com/2022/06/13/biden-really-aware-of-massive-stock-slide-jean-pierre-says/

[mountaineer]

If he's really aware of anything, besides pudding, it's only that all is going according to the Obama/Soros/Schwab plan.

[IsailedawayfromFR]

Only the broad market.

I am doing fabulously well with all the energy and pipeline stocks I picked up since he was sworn in.

[Bigun]

I got out of stocks in 2014 and glad I did!  (If your portfolio is not 25% bigger now than it was then you actually lost money.)

$1 in 2014 is equivalent in purchasing power to about $1.23 today, an increase of $0.23 over 8 years. The dollar had an average inflation rate of 2.67% per year between 2014 and today, producing a cumulative price increase of 23.47%.

This means that today's prices are 1.23 times higher than average prices since 2014, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 81.301% of what it could buy back then.

The inflation rate in 2014 was 1.62%. The current inflation rate compared to last year is now 8.58%. If this number holds, $1 today will be equivalent in buying power to $1.09 next year. The current inflation rate page gives more detail on the latest inflation rates.

https://www.in2013dollars.com/us/inflation/2014?amount=1

[catfish1957]

Only the broad market.

I am doing fabulously well with all the energy and pipeline stocks I picked up since he was sworn in.

 

[catfish1957]

DJIA down over a 200 points at mid day trading.

Pedo Joe's economy is swirling around the drain.

[Bigun]

Dow Jones Jan. 2022 36,800 
Dow Jones today        30,300

https://www.wsj.com/market-data/quotes/index/DJIA/historical-prices

[rustynail]

Our Joe is just getting the froth out so the market can build on the fundamentals.

[Right_in_Virginia]

"It's almost as if we were told"  (Video)


https://rumble.com/embed/v15puc7/?pub=4

[Kamaji]

Our Joe is just getting the froth out so the market can build on the fundamentals.

[andy58-in-nh]

Our Joe is just getting the froth out so the market can build on the fundamentals.

When one considers the state of markets, there's nothing at all wrong with Fundamental analysis, but in this case I would defer to Technical analysis.

Because technically speaking: Slow Joe is a demented, drooling idiot who - in defiance of the Ted Kennedy Broken Clock theorem - has never yet been right about anything.

[Kamaji]

When one considers the state of markets, there's nothing at all wrong with Fundamental analysis, but in this case I would defer to Technical analysis.

Because technically speaking: Slow Joe is a demented, drooling idiot who - in defiance of the Ted Kennedy Broken Clock theorem - has never yet been right about anything.

[Bigun]

[Cyber Liberty]

This morning I woke up after the open at Wall Street, and the DJIA was under 30K.

[catfish1957]

This morning I woke up after the open at Wall Street, and the DJIA was under 30K.

482 points until the DJIA is offically in Bear territory.

Pedo Joe is about to achieve the trifecta.

[libertybele]

If he's really aware of anything, besides pudding, it's only that all is going according to the Obama/Soros/Schwab plan.

 

[catfish1957]

482 points until the DJIA is offically in Bear territory.

Pedo Joe is about to achieve the trifecta.

300 points to go.  DJIA down almost 900 today.

I can hear that bear growling from here.