[Jim in CT]

On top of all the other endless policy disasters of this administration, Biden is now presiding over a stock market correction. One of the very few positive things he could point to as a success was the stock market, and now that’s looking shaky.

The S&P500 is down more than 13% off it’s high, which is officially a correction, and it’s nowhere near done. We are barely in the first inning of the many interest rate hikes to come, which will slow things down considerably.

Remember the term for a recession combined with inflation? It’s called stagflation, they had to invent a term for it when Jimmy Carter was president. And this has all
the earmarks of stagflation 2.0.

Time to hold cash.

It’s all Elon Musks fault.