A reminder about Bidenomics, the economy that was the envy of the world, per The Economist:

[IrishBubbaLiberal]

https://bsky.app/profile/ducati5.bsky.social/post/3llxg47cbhc24

A reminder about Bidenomics, the economy that was the envy of the world, per The Economist:

"A final look at how the U.S. stock market performed under Joe Biden"

https://www.morningstar.com/news/marketwatch/20250119180/a-final-look-at-how-the-us-stock-market-performed-under-joe-biden

By Isabel Wang

U.S. stocks closed out Joe Biden's era on a high note as the president bids farewell to the White House.

The 46th president of the United States is bringing his time at the White House to a close with the S&P 500 SPX up over 55% since he took office on Jan. 20, 2021. The Dow Jones Industrial Average DJIA advanced more than 39% over the same period, while the tech-heavy Nasdaq Composite COMP jumped nearly 46%, according to Dow Jones Market Data.

…….Then in 2023 and 2024, a tech-fueled earnings recovery and the artificial-intelligence frenzy propelled U.S. stocks to historic levels. The S&P 500 scored back-to-back double-digit annual gains by the end of 2024 - and is now kicking off its third year in a bull market.

See: The Biden economy: Just how good was it? Here's the highs and lows of the 46th president.

David Russell, global head of market strategy at TradeStation, said there was "an explosive surge" in cyclical sectors of the economy that benefited from the reopening after the pandemic and the Biden administration's landmark Inflation Reduction Act in 2022, which "really spurred industrial activities that in many ways triggered higher interest rates and the bear market of 2022," he told MarketWatch on Friday.

[Dave Bowman]

1. As usual a Democratic President was great for the economy.

Why are these people keep voting against their own interests? It's mind blowing. 🙁

[Johnny2X2X]

2. I was here for years posting the data

Often times taking heat for posting the facts about the Biden economy.

I was born in the early 70s, my entire life all I ever hear was that the rich keep getting richer, and the poor keep getting poorer, and there's nothing anyone can ever do to change that. Well, Joe Biden changed it. The bottom 10% saw more wage growth than the top 10%. The Bottom 50% saw more growth in Net Worth than ever in our nation's history. Real wage growth at the bottom and in the middle was at 60 year highs.

Working people saw gains they hadn't seen in geenrations. People were better off under Biden than they were before Coid, the numbers clearly showed that. Higher real incomes, more savings, higher net worth, lower crime, more people with health care etc etc. But all we ever heard about what inflation. Yeah, we had a bout of inflation, so we threw all the gains away. It's one of the saddest points in our history, that a president delivered a miracle of an economy for working people and his party lost because the media had been bought off by the oligarchs.

Pay attention working class America, and wave goodbye to the Biden economy, it was literally the best economy for you that you will see in your lifetime. You threw it all away because eggs were more expensive.

[Lonestarblue]

3. They also threw it all away because they wanted a strongman to hurt the people they hate.

As he has done with the anti-DEI purge of government workers and agencies and the attacks on major universities to withhold funds unless they end diversity programs and hire only white males and change curricula to teach Republican propaganda on topics like eugenics to support white supremacy.

[Johnny2X2X]

4. That's a big part of it

My point is that the economy that Biden created should have been enough for Dems to sweep into power in 2024, should have been a landslide.

And another point that I made here over and over is this. If I can't even present the facts on DU and have people believe them, then we are really screwed. The push back was non stop. And no, good overall data didn't mean that there weren't still millions of people struggling, but the facts could not have been more clear, Joe Biden was delivering for working Americans like no President had since FDR. If we couldn't even get our own side to rally around our President for creating a miracle of an economy, how the hell were we going to get swing voters to see it?

Dems couldn't even run on an economy that delivered for working people. And now working people are about to lose everything.

[UpInArms]

5. When corporate media sets its sights on propagandizing the people

the truth takes a back seat…

The MAGAts are a cult … they have been fed a steady diet of lies

Keep shouting from the rooftops, Johnny

[Johnny2X2X]

6. The media

Yeah, I truly believe the media is more owned by the ruling elites than ever before. And what they saw Joe Biden doing for the working class was wholely unacceptable to them. Absolutely drove them crazy to hear stories of workers telling their jobs to shove it and going out and getting a 25% raise.

It drives the masses to be more outraged about restaurant workers getting a $5 an hour raise than billionaires getting a $5 Trillion tax cut. I've watched it on social media, I've heard it at bars and restaurants, and I've read about it all over. You want blue collar people to get totally outraged? Tell them that McDonald's workers are now making $16 or more some places, those people will practically take to the streets with pitchforks if some poorer workers than them get something. The people are the puppets now.

Hell, here in Michigan, they mandated sick days for all workers, and other working people literally showed up at the capitol to protest.

[UpInArms]

7. The rulers continue to sow hate between the people

I hope they reap the storm