Kamala HQ mocked Donald Trump for predicting market crash under Joe Biden
in May 24, 2024, the Democrats took to X, on what was then an account for Joe Biden’s reelection campaign, to mock Donald Trump’s prediction. During an interview in May 2020, Donald Trump predicted that if Joe Biden were elected, the markets would see a crash. That account, now “Kamala HQ” addressed this prediction, and continued by bragging about how the stock market reached its highest levels in history. As has been seen over the past few days, another one of Donald Trump’s predictions ended up becoming true.
From Intelligencer:
On Friday, new data dropped showing the unemployment rate in the U.S. rising to 4.3 percent, higher than expected. Historically, this is not a high reading, but what matters here is the speed at which the jobless rate has risen lately. In the past, a sudden spike in unemployment has indicated a recession is on its way. This observation is called the Sahm Rule — named for former Federal Reserve economist Claudia Sahm — and it is one of the key triggers that economists look for in gauging the health of the economy. Last week, this gauge tipped over into pointing toward a recession.
Now, there are reasons to think that the unemployment report looks worse than it actually is, since those numbers reflect both higher than normal layoffs in temp jobs and an increase in people looking for work from higher immigration. Those details, coupled with an encouraging Monday manufacturing report, shows “an economy in transition rather than one on the brink of collapse,” said Matthew Martin, an economist at Oxford Economics. It is simply too early to say if this means a recession is going to happen, and some of the most time-worn indicators of an economic downturn have been deeply wrong since the pandemic, as the trillions of dollars of stimulus has seemingly dispensed with old assumptions about how the economy actually functions.
Still, there are “heightened recession fears,” said George Pavel, general manager at Capex.com. Goldman Sachs has upped the odds of a recession to about one-in-four.
Additional Reading:
Dugan, K. T. (2024, August 5). Why is the stock market crashing today? Intelligencer. Link.
Category: 2024 Election, Donald Trump, Economy, Kamala Harris, Society
So…..this apocalyptic shitshow is gonna get worse before it gets better. Great
Again… just sayin’:
Anybody that’s been paying attention should note that the stock market peaked right after the Trump assassination attempt. The thinking at the time was that Trump would almost certainly be reelected.
But then the Democrats conspired against Biden and forced him out and along came this socialist lady from California, now it looks like she might have a shot. Combine that with some vastly updated numbers on employment, and here we are.
You can see here how badly the bureau of statistics has been lying to try to support a Biden reelection. They were numerous problems with this because the numbers didn’t match reality.
Well there’s a few factors rolling right now from what I read – besides US inflation screwing us every day that is no help thanks to the crazy billions of overspending and the Inflation Reduction Act BS those idiots in DC passed that is…
One low key item I keep reading about very lately was the Bank of Japan finally started raising rates to bring some strength back to the yen vs. the US dollar. Which sent a lot of panic to folks that have been in the currency markets buying cheap yen on margin, converting it to dollars and buying US (and other) investments on the cheap.
Time to pay back one time cheap but now more expensive money forces selling of other investments to cover the losses.
My dad (retired banker) and I had constantly discussed how this recent rally is driven by emotions and “borrowed money”; not solid economic numbers.
Course the job numbers are a bit BS right now too since I don’t think they correctly project that a lot of that “full time” employment is actually one person working two or even three part time jobs to make ends meet right now.
Japan market is crashing too.
Wasn’t that one of the factors of the Crash of 1929? Buying “on the margin”? And unable to pay back “the call”?
Yeah. Looking for another bunch of bankers committing suicide and uber-rich assholes to go broke. What’s that song, “Jump You Mothers, Jump!”. Something like that.
Outside of paying for salaries and Social Security, pretty much everything the govt. has been spending is “borrowed money”. The intake is no where near sustainable levels of the out go at the rate of spending of the govt. It’s not even within sight of each other.
Nah, I’m sure we’re just too stupid to understand economics or how the economy works… right?
Trump having another “I told you so” moment will surely make those against him, and us by extension, have a splodey head moment.
Personally, I find it funny when the dems chickens come home to roost.
I should have included more than a few Rinos in the above statement. There’s a bunch of our “betters” who are no cleaner than the driven slush.
Maybe, but you should see what happens when you piss off the cat ladies. Republican cat ladies went on TV in Arizona and denounced him. Never underestimate the cat ladies.
I love cats. The other white meat. I just can’t eat a whole one by myself.
Chinese restaurant in the town we used to live in got busted by the health department for selling cat and dog.. One of our favorite places before that happened..
How about a trigger warning for any vegans who may frequent this blog? Hack only eats free range tofu.
This whore just needs to go back to doing what she does best…sucking di*ks.
There is no higher pinnacle to achieve. She will have to suck all by herself from here on out.
On it!
Jus’ sayin’…
Don’t worry, the Harris-Biden Administration will once again redefine the meaning of recession. We are currently being burdened by what not has been.
yup
and
One for our communist.
Speaking of…. has anybody here heard from him, or is this not the longest he has gone before returning.
Don’t anger zer/zim.
Joe Biden is currently in the Witless Protection Program. No joke.
🤣
And he insists on being called ‘ King of the United States of Ukrainistine ‘
And I’m sure this is all Trump’s fault because he said it would happen.
Dow dropped 1000 points today…500 points in ’87 triggered a bad few years. Note, however, that in 1987 the Dow was at 2700, so it dropped 20-25%. The Dow started today at 40,000, so it dropped about 2.5%. a tenth of what it did in ’87.
Perfect timing for my retirement account.. FJB
Japan lost 12.5%.
Tehran just said they don’t care if their righteous punishing of Israel triggers a regional war.
Three US troops were injured at Al-Asad.
This Monday has been an eventful week.
As if Monday wasn’t eventful enough.
https://theconservativetreehouse.com/blog/2024/08/05/congressman-jamie-raskin-seriously-and-strategically-promises-to-incite-a-civil-war-by-blocking-trump-from-office-if-president-trump-wins-in-november/
Kamala and DJT BOTH had rallies in Atlanta last week, it’s apparent that kamala had some rapper preform at her rally, and as soon as she started speaking people left en masse. Yeah, she used the rapper to draw a crowd! Here’s the video comparing them:
Trump PACKS Atlanta Arena!! Black Citizens SHOW UP And DEMOLISH Kamala!! (youtube.com)