Nasdaq

“Don’t be a PANICAN,” the President shared on his Truth Social account this morning, as the Dow was dropping 900 points. This is Donald Trump’s new word for his tariff critics, who he has grouped together as the “new party based on Weak and Stupid people!” There is another way, the President insists: “Be Strong, Courageous, and Patient, and GREATNESS will be the result!” It’s another post in a long line of all-caps messages shared by the President over the weekend. “ONLY THE WEAK WILL FAIL!” was Friday’s update. “WE WILL WIN. HANG TOUGH,” was Saturday’s inspirational message.

If you’re the sort who rarely checks your 401K and other investment accounts, you may be blissfully unaware of what a dismal year (plus) its been for the stock market. Many prominent media personalities, particularly ones on CNBC, promised us that Biden would be a boon to the stock market because Trump was too erratic. But while the market started hot in 2021, it's mostly been ice cold ever since, with a few fake rallies thrown in to tease us. How bad has the Biden era been for stocks? Consider some numbers I crunched prior to the market opening on December 12.

COVID-19 is still raging, with little sign of coming under control. The economy is already a tenth smaller than it was at the start of the year. Joblessness is soaring. And the budget deficit? Don’t even ask. But, hey, perhaps we shouldn’t worry about any of that. As the President of the United States keeps pointing out, the stock market is doing great, and, in his opinion, anyway, that means America, to borrow the kind of slogan that fits neatly onto a baseball cap, is great again as well. There is a problem, however, with Trump’s breezy 21-character analysis. It is not really true. The main equity indices reflect many different things, and the health of the economy is not always one of them. https://twitter.