The jobs numbers are out. The NASDAQ is tanking. And just like that, Joe Biden’s and Kamala Harris’s claims to have “saved” the economy are down in the rising rubble of a fresh-made economic crater.
According to the New York Times:
Stocks skidded on Friday, capping off a turbulent week for Wall Street, as investors were jolted by data showing that hiring slowed and unemployment rose in July.
The spiking uncertainty about the economic outlook, and the question of whether the Federal Reserve has been too slow to cut interest rates, was evident across financial markets.
Which is ugly stuff for the American people as it puts paid to the Biden-Harris camp’s claim to have “rescued” the U.S. economy.
No, they didn’t rescue it. They took the COVID lockdown disaster, pumped a few trillion into the economy for a slew of government spending, creating a sugar high for some, and now are seeing the comedown, the cratering, the acceleration of a major economic downturn that won’t ever be fixed based on anything they ever do. It will stay a nightmare and citizens can only hope it won’t get worse.
But it will get worse.