‘Remember when Trump said…’ Twitter UNLOADS on Biden economy with stock market plunge

The stock market plummeted more than 600 points when it opened on Monday over inflation while President Joe Biden crowed over a revisionist job market and non-existent savings by Americans.

“The job market is the strongest it has been since WWII, notwithstanding the inflation. […] Millions of Americans are moving up to better jobs and better pay, and since I took office, families are carrying less debt on average in America, they have more savings,” Biden said in a speech in Los Angeles.

The S&P 500 is now officially in bear market territory as global stocks tumble and bond yields jumped over skyrocketing inflation. The technology-focused Nasdaq Composite Index, which entered bear market territory in March, dropped another 3 percent as markets opened. The Dow Jones Industrial Average dropped more than 600 points.


(Video: NBC News)

Meanwhile, Americans are seeing the highest gas prices ever and a level of inflation not seen since the Jimmy Carter years. In fact, many contend it has now bypassed that level of inflation and we are in new, painful territory.

Biden’s blaming of Putin and the Ukraine war is not convincing most Americans as they increasingly struggle to make ends meet, and “stock market crash” trended on Twitter Monday morning.

Consumer data on Friday showed that prices rose 8.6 percent year-over-year in May. That’s the fastest rise in prices since 1981. Many Americans are now not only having trouble finding items, they also can’t afford them any longer, just as they cannot afford the cost of gas which is continuing to surge.

“The very fact that it overshot expectations has really frayed investors’ nerves even more and shown how difficult it is to try to keep a lid on inflation,” Susannah Streeter, a senior investment and markets analyst at Hargreaves Lansdown, told the Wall Street Journal. “The worry is that inflation is getting too hot to handle for central banks and they’ll have to dose economies with cold water in the form of tighter policy.”

On Tuesday, the Fed will meet and it is widely expected that the central bank will announce on Wednesday it is raising its benchmark interest rate by half a percentage point adding even more pain for Americans. Expectations that the Fed will be forced to move even more aggressively this year have risen since Friday’s inflation report.

“It seems as though inflation is staying for longer than expected,” Kiran Ganesh, a multi-asset strategist at UBS, stated evidently not getting what almost every American already knows. “People are now beginning to fear that the Fed will have to go further or faster in terms of interest rates.”

Tech stocks had big declines on Monday. Apple shares were down 2.5 percent in early trading. Amazon.com shares lost 4.3 percent. Chip maker Nvidia lost 4.8 percent and Elon Musk’s Tesla was down 3.1 percent. Meta Platforms, the parent company of Facebook, also lost 2.9 percent.

“This is what you call a bear market where fear is taking place and pushing people out of the market and having people empty up portfolios and capitulate,” Todd Morgan, who is the chairman of Los Angeles-based Bel Air Investment Advisors, noted.

Cryptocurrencies also got hammered on Monday after interest-rate fears sparked a weekend selloff according to the Wall Street Journal.

Shares in Asia-Pacific plunged as well on Monday, with Hong Kong’s Hang Seng index, Japan’s Nikkei 225, and South Korea’s Kospi all falling more than 3 percent. European stocks also tumbled, with the pan-European Stoxx 600 shedding 2 percent as a sea of red swept through global risk assets according to CNBC.

“I do think that the probability of falling into a bear market and indeed a recession has undeniably increased as a result of Friday’s punch in the gut, in a way,” Fahad Kamal, the chief investment officer at Kleinwort Hambros, told CNBC on Monday.

He added that there was “very, very little good” in Friday’s inflation report, which he said indicated that inflation has not peaked and has instead broadened throughout the economy. This comes as whispers of a depression are beginning to circulate.

Biden is literally being eviscerated on Twitter as the stock market dives off a cliff:

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27 thoughts on “‘Remember when Trump said…’ Twitter UNLOADS on Biden economy with stock market plunge

  1. It is no longer amazing that everything Donald Trump has predicted over the past 7 or 8 years has, without exception, come true. Like everyone my IRA is in the tank all thanks to Joe Biden and his collection of brainless America hating democrats!!

  2. When President Trump was in office, my savings account was enough to buy 10,000 gallons of gasoline. I have put more money in and not taken any out, but now it is only enough to but 5,000 gallons. My debt may be less, but that is because I have made mortgage payments not because of anything pedo Joe has done

  3. What planet is this guy on???? It’s definitely not the same one I’m on. Doe he think he is fooling the American people by LYING??? WHAT A CLOWN

  4. That’s the fastest rise in prices since 1981.

    Not true. The gubmint changed the way it calculates inflation in the 90’s. Using the method used prior to that in 1981, inflation is about 18% making it the highest since the great depression of the 1920’s.
    Oh Boy!

  5. Those democrats that do not join republicans in a call for impeachment of this hapless fool are traitors to their country. You know what used to happen to traitors.

  6. :Been there,done that “sitting ‘in gas lines for $5.worth of gas in 1970. WHERE was BIDEN?Apparantly this idiot doesn’t “get it”.It’s 2022 and no gas lines , BUT SKY HIGH gas prices @ the pump. My electric bill. is so far an increase of $20/mos..WITH one A/C unit “in”! WHAT Is WRONG with this MAN!

  7. LOVE TRUMP! “HE” TOLD “US”! His proficiencies are TRUE! The Dems & “the swamp”ARE “RIGHT ON!” So much HATE, Divide by RACE, skin color,oppress & be oppressesd? THIS IS GARBAGE! Never heard peace, tranquility, forgive & forget from ANY of “these”left wing people! . Such foul language. Nothing but HATE, Kill & DESTROY! These people are SICK! AND it’s lead by the Dems.! No wonder that America is”fed” up! Biden “IS” a DISASTER. How Long “will” it last?

  8. Oh, and don’t forget, all those lying POSs in Hollywood that told people Trump was bad and to vote for Biden. Well, I guarantee you they’re not having any problem paying for the things they want and need. They’re insulated in their little fantasy worlds while all the people that they duped into voting for this fool are suffering dearly.

    All I can say is, if you voted for this idiot, you’re pretty much getting what you deserve. I mean, he told everyone from his basement for months exactly what he was going to do. All people had to do was listen to what he was saying. Instead, they chose to only hear that Trump’s a racist, Trump hates gays, Trump this, Trump that. Well, I only feel sorry for those who were smart enough to vote for DJT and have gotten screwed in this whole deal and are now suffering. Trump flat out warned everyone exactly what would happen if Joe Biden were president and he hasn’t been wrong on one thing he said about it.

    If we’re being honest with ourselves, we all know Biden didn’t win. Go watch 2000 Mules and the same “geolocation cell phone data” that our very own government uses for intel gathering was used to prove a lot of the mail in voter fraud. Like, why is one mule visiting multiple mail in ballot boxes on multiple occasions dumping ballots in? Biden and everyone behind the scenes in this admin should go to prison for what they’re doing to the people in this country.

  9. Anyone who stills believes Biden and Dems are for the people you all really need to get some help.

  10. Let’s not forget that every time dems lie, there are millions of fools in this country who will still vote for them. Don’t let these clowns off the hook.

  11. When you elect the dumbest career politician who made his money as a grifter and happens to own the most valuable homes in Delawsre, one who hangs out with racists and has no vested interest in the real capitalist economy and whose strings are pulled by BO, Rice, Klein et al, this is the shit you get. It is appropriate that he has the most incompetent cabinet in history, a whore for vice president, all of whom had to be dumber or more crooked than he is, this is what you get. FJB AND ANY AND ALL WHO STILL SUPPORT THIS FARCE,.

  12. And the unbiased msm still cheerleading for joe and his ilk. How sad, but know mean tweets, right?

  13. It’s all on Biden. The crazy fool conman Biden. There’s no Putin the blame on Putin. Sick as he is it’s not Putin’s fault. It’s an Obama Biden thing.

  14. Things don’t happen all at once by coincidence. This is the Biden’s Handlers goal and they are succeeding.
    What did you think Build Back Better meant?
    You have to tear down to build, and soon we’ll have the borderless one government world with Islam as the policing force that the international left has dreamed about since they snuck Brockobamma in as president. Trump interrupted them, and Biden’s Handlers are doing everything they can to knock America out before the November election.

  15. Only got to second paragraph, Americans carrying less debt, just saw that Americans are in fact carrying more debt. He lies so much it’s pathetic, if Trump had lied this much he’d be taken out of the White house in hand cuffs, they’d find a way to do it. I can’t stand Joe at this point, he is a stupid lying creepy POS. Yes I said it. I don’t take it back you can cancel me I don’t care because it is like we were all cancelled anyway.

  16. “If Biden gets elected we’ll have record inflation and the stock market will crash like in the Great depression ”
    – Donald J. Trump

    Trump was right again.

    1. GO BRANDON. FJB TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TR

    2. IMO this has been the goal for those wanting to destroy America as we know it and rebuild in their image of a Socialist/Communist Utopia. With THEM in charge! It appears they are well on their way, the next election will no doubt be the path to our future. I do not blame the Dams for all of this, many RINOs were also willing to sell their soul and their country for money, power and votes. No matter how this ends, it’s not going to be pretty.

  17. Biden’s statement how good it is, that he must be dreaming of the Successful Trump Years!!

  18. Trump was correct of course! Something the radical Biden leftists never will admit. Biden and the democrat party have destroyed our economy, our defenses, and our justice system just to name a few!

  19. This is why voting was never meant to be a right but an earned privilege from working hard! Since the very beginning of this country, the lazy free loaders have been working to destroy everything that the founding fathers had put together and this is where we are now. Unfortunately, stupid voters so often determine the results of an elections and we end up with morons such as Biden and Pelosi! God help us!

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