Biden Sinks U.S. Markets, Trouble Ahead
President Biden is on a roll!
In another sign that is warning Americans that we are doomed, it has been learned that the inflation number for August came out to an eye-popping 8.3%!
According to Fox Business, This new 8.3% inflation rate came out higher than expected by economists and the Biden Administration is shocked.
LOOK:
Today’s consumer prices report has busted Biden’s spin – inflation is still surging.
Consumer prices have been at or above 5% for 16 straight months. Real wages have been negative for 17 straight months, ever since Biden passed his “stimulus.”
Biden is the Pay Cut President. pic.twitter.com/9VmotvkdOT
— Tommy Pigott (@TommyPigott) September 13, 2022
This terrible news has resulted in the U.S. stock market dropping more than 800 points!
It’s worse than even that actually, according to CNBC, the Dow Jones Industrial Average dropped 924 points which is 2.9% and The S&P 500 tanked by 3.1%, the Nasdaq Composite dipped 3.9%. Nearly 500 stocks that are in the S&P 500 dropped in value.
This new drop in the stock market virtually erased all of the gains made in recent days.
CEO of KKM Financial Jeff Kilburg explained, “The velocity of this move has been breathtaking, however the market has recovered substantially off of recent lows. That this 4,000 level is still holding for the S&P 500 does reveal the fact that markets are bothered, but markets are not panicking.”
President Biden and his administration need to do something before matters get worse.
