The last time this happened, voters didnāt credit Bill Clinton. That may be a bad omen, or a good one.
If the stock market chose presidents, Joe Biden would be a shoo-in for reelection in 2024. The market rallied this month amid growing optimism about the economy, with the S&P 500 zooming 1.9 percent Tuesday on news that the consumer price index rose only 3.2 percent in October (compared to 3.7 percent in September). Stocks rallied again Wednesday on news that the producer price index fell 0.5 percent. Commentators are no longer debating whether the economy will experience a āsoft landingā (i.e., a reduction in inflation without recession). The only question now is when it will arrive. The S&P 500 seems to have decided itās already here.
But the stock market doesnāt choose presidents. Voters do, and polls continue to show they think the economy is in terrible shape. A Financial TimesāMichigan Ross Nationwide Survey conducted November 2ā7 is absolutely brutal on this point.
Not true. Itās also a measure of how effectively customers are being gouged.
Both can be trueā¦
Hence the āalsoā.
āthatās not true but itās also trueā
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Itās not true that itās just exploitation of workers. Itās also price gouging.