Biden's Response on the Stock Market Plunge Is Classic Biden
By Nick Arama | Nov 27, 2021 3:45 PM ET
Yesterday, the Dow plunged more than 1,000 points, ending up closing the day at 950 points down, after the announcement of a new COVID variant in South Africa.
People immediately envisioned more crushing government restrictions coming.
From Politico:
The S&P 500 was down 2.3%, on pace for its worst day since February. Airlines and other travel stocks sank as health officials in Europe and the U.K. moved quickly to propose suspending air travel from southern Africa. The price of oil fell more than 13% amid worries of another slowdown in the global economy.
The blue chips were down 950 points by midday trading to 34,857. The Nasdaq Composite was down 2%.
Marketwatch said it was on track to be the worst Black Friday in 70 years.
As we reported, the Biden team was in utter confusion in response to the announcement of the new variant, with Dr. Anthony Fauci appearing on CNN and saying they weren’t thinking about banning travel yet from affected areas. Then Joe Biden, a couple of hours later, saying he would be banning travel from eight African countries based upon Fauci’s recommendation to do so, earlier in the day before he went on television. What a clown show. Then having made that decision, Biden said it wasn’t going to go into effect until Monday, which makes no sense if you’re trying to respond immediately to it.
A reporter managed to track Biden down on his Thanksgiving holiday in Nantucket, RI, where he’s staying at a billionaire’s compound with family members, and asked him what he thought about the precipitous dive in the stock market.
Biden’s response was classic Biden: basically, ‘how dare you suggest anything that happens under me is bad? How is this bad?’
https://twitter.com/RNCResearch/status/1464369222977568772more
https://redstate.com/nick-arama/2021/11/27/bidens-response-on-the-stock-market-plunge-is-classic-biden-n482425
