(Mark Pellin, Headline USA) Despite refusing to call the current recession an actual recession, the stock market’s precipitous plummet again shed a harsh light of reality on the Biden administration’s perpetual gaslighting on Bidenflation and its horrible economy.
The market’s main index that tracks the performance of major stocks took a major hit Monday, with the Dow Jones Industrial Average tumbling 330 points and officially entering bear market territory, according to National Review. The bad news was mirrored in the S&P 500, which also set a new closing low for this year.
❌ Dow entering a bear market
❌ Markets have lost almost $8 trillion under Joe Biden
❌ 401(k)s in decline
❌ Inflation still high & rising
🤡 But hey, at least the Federal gov’t got to spend trillions in funny money before the GOP takes back the House in Nov.
We. Will. Win.
— Nancy Mace (@NancyMace) September 26, 2022
The markets opened Monday after a brutal close on Friday that saw the Dow dip below 30,000 and officially erase all to-date gains eked out since President Joe Biden took office.
The Dow’s plunge marked a 20% decline from its close in January, which would meet the accepted criteria for a bear market. Stocks have also lost nearly $8 trillion in value since Biden took office, according to Fox News.
Rep. Lance Gooden, R-Texas, noted that former President Donald Trump predicted the looming disaster that has unfolded since Biden’s alleged election.
“Has the White House redefined the term ‘bear market’ yet?” cracked American Greatness’ Tim Young, and he wasn’t alone asking.
The Dow Jones is down 20.5% from its January 4th record high close, officially entering techinical definition of a bear market.
I wonder how Biden & the Democrats will try to redefine a “Bear Market” like “Recession”.
— Joshua T. Hosler (@JoshuaHosler) September 26, 2022
The White House, in typical tone-deaf fashion, celebrated the stock market tumult by ignoring the issue and focusing on more important agendas.
Inflation. Bear market. Invasion of illegals. Crime-ridden inner cities. Naturally, Biden’s Leftist junta zeroes in on the Tomahawk Chop. https://t.co/2yQR2OpZ7Q
— Biff LaTourette (@BiffLaTourette) September 26, 2022
Biden marked the market’s tanking Friday in similar Nero-in-Chief fashion that he used to celebrate its plunge earlier this month.
“Markets erased two years of gains, dipped into bear market territory, and had their year-end targets slashed this week,” wrote Townhall’s Spencer Brown.
“So Biden is jumping into action to *checks notes* host a televised invite-only White House concert with Elton John, a la Nero.”
Bidenflation led to the Biden Recession and now we have the Biden Bear Market. Vote these people out of power to save our economic future. pic.twitter.com/bBjqXnSxit
— Beth Van Duyne (@Bethvanduyne) September 23, 2022