As economy spikes, Republicans are still waiting for the 'Biden depression' that Trump predicted

[DonViejo]

David J. Lynch 4 hrs ago

Throughout last year’s campaign, President Donald Trump issued a series of increasingly dark predictions about what would happen if Joe Biden were elected. “If he gets in, you will have a depression the likes of which you’ve never seen. Your 401(k)s will go to hell and it’ll be a very, very sad day for this country,” Trump said in the Oct. 22 candidate debate.

Instead, the rebounding economy is headed for its best year since 1984, according to the International Monetary Fund. The U.S. economy likely expanded in the first quarter at an annual rate of 6 percent and should accelerate in the months ahead, economist Ian Shepherdson of Pantheon Macroeconomics told clients this week. More than 1.3 million jobs have been added since the election.

By Trump’s preferred metric — the stock market — Biden is outperforming his predecessor at this stage of his presidency. Last summer, the Republican said stock values would “collapse” under Biden. But through Thursday, the Dow Jones industrial average was up nearly 16 percent since Nov. 7, when the Democrat was declared the apparent election winner, compared with a 10.5 percent gain over a similar period following Trump’s election.

“There wasn’t much behind President Trump’s predictions other than aspirations that he’d be reelected,” said economist Michael Strain of the American Enterprise Institute.

more/NO PAYWALL
https://www.msn.com/en-us/news/politics/as-economy-spikes-republicans-are-still-waiting-for-the-biden-depression-that-trump-predicted/ar-BB1fX3wZ

[Diamond_Dog]

1. I have a modest investment

It went DOWN by 15% when Orange Ass was in charge.

It has rebounded back to where it was before and then some since Biden took office.

PLUS

My Marketplace health insurance monthly premiums went UP by 23% when Orange Ass was in charge.

And they were recently LOWERED by 62% thanks to the Biden Administration.

Those are facts!!
Suck it, Republicans!

[wryter2000]

6. Wow

Your health insurance went down that much? That's impressive. If that happens to large numbers of people, it'll really help with elections.

I get my health insurance through medicare and my old employer, so I'm not up-to-date on where premiums are.

[Demsrule86]

19. I checked in with the ACA the first time hubs was laid off...the premiums were huge...

we were able to get catastrophic but that was it...this time I was surprised how much more affordable they were. Hubs has a job but insurance won't kick in until July.

[ailsagirl]

8. I've had similar results!!

[former9thward]

12. Whatever your investments are in you need to rethink.

The Dow on January 20, 2017 was 19732. On January 20, 2021 it was 30930. That is a 57% gain. You need to fire your financial advisor if you have one.

Politics and economic predictions rarely mix. On election night November, 2016, Paul Krugman said the Dow would plunge the next day and NEVER recover. Instead, much to his embarrassmnt, it went up.

https://www.nytimes.com/interactive/projects/cp/opinion/election-night-2016/paul-krugman-the-economic-fallout

[IronLionZion]

2. Ending the pandemic and stimulus money helps most Americans

While Trump's lies about the pandemic last year definitely hurt most Americans. His tax cuts didn't trickle down much but I bet Biden's infrastructure plan with tax raises for the wealthy will help trickle up from working people.

[AZ8theist]

3. As if ANYONE other than an imbecile..

Would believe what a pathologically lying treasonous pig would say....

[Escurumbele]

4. The TRUE "Economic Cycle"

1. Republicans take power, the economy gets destroyed
2. Democrats take power, they fix the economy
3. Republicans take power, the economy gets destroyed
4. Democrats take power, they fix the economy
5. repeat

Let's be real, and smart...The Economy doesn't do anything to itself, this bullshit from republicans about an "Economic Cycle" which they invented to justify their lack of governing abilities and ideas to allow the country to prosper, is just that, "bullshit". It is the decisions that politicians make that creates the ups and downs of the economy, it is not a cycle, it is no coincidence that the economy goes down when republicans are in power, and it goes up when Democrats are in power. Any other explanation is fantasy.

Here is a sample:

Reagan + Bush father, republicans - Economy Destroyed
Bill Clinton, Democrat - Economy Restored to historic highs
G. W. Bush, republicans - Economy Destroyed to historic lows
Barack Obama, Democrat - Economy Restored
donald trump, republicans - Economy Destroyed
Joe Biden, Democrat - Economy Recovery on the way.

[GoodRaisin]

17. Could also be thought of as a "steal" and "give back" cycle,

such as the 2017 Trump tax scam (steal) and the Biden infrastructure plan (give back).

[bucolic_frolic]

5. It's very hard to create depression when the majority of the public is happy

If Trump were a soothsayer, he would own the world because he started on 3rd base.

[COL Mustard]

7. They Need A Department Of Agitation

Like the Soviet Union used to have, and North Korea still does. Someone to make you believe that your life is worse because of...you fill in the blanks.

What's MTG doing these days? She could do some pull-ups, I'm sure.

[Xipe Totec]

9. Not to put too fine a point on it, but Maggots have been on a Biden depression since the election nt

[mnmoderatedem]

10. reminds me of Romney during the 2012 campaign

claimed that if Obama were to be reelected, the unemployment rate would never get lower than 8% wile bragging he would get it to 6% if elected.

The unemployment rate when Obama left office? 4.7%.

[DSandra]

11. Trumpers / MAGATs are the biggest suckers in the history of this country

They have gone where no one else has gone before in their depths of stupidity and gullibility!

[Roy Rolling]

13. Do not be Complacent

A president, unless spectacularly inept like Trump and controlled like W., does not control the stock market. Uncouple those things in your mind. They can help, and hurt in incredibly fast time.

Like a plant from a seed, stocks will grow steadily with a moderate balance of the equivalent of sunlight, air, and water—(sales, earnings, and assets). It takes all three. Plants will grow, but at nature’s pace. It takes time to grow.

Uprooting and killing a plant can occur instantly, so—growth and death are not mirror images. It takes a long time to grow, but death can come in an instant. So it is with stocks.

As Mark Twain said (paraphrased), “April is a particularly dangerous month for stocks, followed closely by May, June, July, August, September, October, November, December, January, February, and March.”

As I say here, I’m staying at the party, but I’m dancing very close to the door.

[FakeNoose]

16. Good advice

Chump kept taking credit for the market when it was up, but it never really had to do with him at all. Then the market went down (mostly for Covid reasons) and he pretended it wasn't happening, or it wasn't his fault.

Those of us with IRAs or 401Ks, or living off our savings, we need to be vigilant at all times.

When Chump was in office the Repukes could have "fixed" the deficit. But did they? Oh hell no, they were feeding at the trough like nobody's business. I'm done with them claiming they know how to handle the economy. They know nothing, and it's always the Democratic leaders who patch us up and keep us going.

[NickB79]

14. Now they're freaking out about hyperinflation

All the prepper sites are pushing gold again.

[BlueNProud]

15. I'm still waiting for Bill Clinton's economic depression

we were told that was coming..

[Deminpenn]

18. Trump depression sounds more like

an emotional reaction to the cultists loss of their leader.

[bucolic_frolic]

20. Trump fights reality with delusional fantasy ideas that MAGAts buy into

Why do we, and the media especially, allow this bullshit to float unchecked?

[WarGamer]

21. That's not quite accurate.

Trump said SEVERAL times that 2021 would be a big year no matter the winner of '20

I'm not sure who writes these articles or what actual research they do.

In typical Trump-speak he also claimed that Biden would lead to a Market crash... but to be honest, many experts feel that we're past overdue for a recession and '22 is the most likely time.

But as an active investor and trader... I'm 100% BULL in '21.

[Penn Voter]

22. Republicans

said the same thing after the Clinton budget was approved. How did that turn out? Clinton left with a budget surplus and more jobs created in his 8 years than in St. Reagan's.

[Demovictory9]

23. waiting hoping