Corruption within the Biden-Harris administration has recently come under scrutiny as President Joe Biden falsely claimed that his administration “cured” the economy just days before a significant drop in global markets. On Monday morning, the Dow plummeted by 900 points and the Nasdaq sank six percent amid a global market rout.
President Biden’s bold statement about the state of the economy was made on Tuesday when he was asked about his administration’s accomplishments. However, a week later, concerns began to grow among economists that a recession might be looming. According to CNBC, U.S. stocks experienced a sharp decline as part of a global market sell-off centered around the fear of a potential recession in the United States.
The recent disappointing July jobs report has further heightened investor fears, leading them to worry that the Federal Reserve is falling behind in cutting interest rates to help alleviate an economic slowdown. The central bank chose to maintain its highest interest rate in two decades last week instead of addressing this issue directly.
Public sentiment regarding personal finances appears to be divided based on CBS News/YouGov polling data, which reveals that a near majority (45 percent) of registered voters believe their financial situation would improve if former President Donald Trump were to defeat current Vice President Kamala Harris in the November election. In contrast, only 25 percent hold the same belief if Harris is victorious.
Former President Trump expressed his concerns about the state of the economy and the potential for a recession on social media platform Truth Social, stating that “the stock markets are crashing, jobs numbers are terrible, we are heading to World War III, and we have two of the most incompetent ‘leaders’ in history.” He went on to remind followers of his past warnings about the potential consequences of electing Joe Biden as President.
Additionally, a Twitter account associated with Kamala HQ highlighted the stark contrast between Trump’s predictions and the actual state of the stock market under corrupt President Joe Biden, who has overseen record-high levels in recent years despite initial fears that his election would cause a “crash.
As concerns about the economy continue to grow, it remains to be seen how the Biden-Harris administration will respond to these challenges and work towards stabilizing markets and restoring confidence among investors and the public alike.