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Joe Biden Trashed Americas Economy

Original post made by Michael Austin , Pleasanton Meadows, on Jun 29, 2022

The stock market has lost all gains it made since Joe Biden was sworn into office.

S&P is down 151 points below where it was 01/2021.
Dow jones industrial Averages are down 876 points from where it was 01/2021.
Nasdaq Composite is down 530 points from where it was 01/2021.
Blue Chips* are down 21% from where they were 01/2021.

401 (K) have lost $1.4 Trillion. IRAs have lost $2 Trillion.
Public pension funds have lost $1 Trillion, impacting Municiple workers, police, fire, city staff, etc.

The Pleasanton city council majority removed $1 Million from the rainy-day fund.
Inflations is up over 8% since 01/2021.
Joe Biden shut down Keystone pipeline. Price of gas soared to $7 gallon some areas.

*Microsoft, Tesla, Amazon, Waren Buffet Berkshire Hathway:

After all this sad news, I wish to end on a positive Note:

Series I Bonds are on sale with rate of 9.26% return. The I Bond must be held for a year. The US Treasure will pay a semiannual dividend, if purchased July 1, first dividend will be paid 01/2023, second dividend will be paid 7/2023.

Maximum purchase allowed is $10K per person. If sold before 5 years, the previous 3 months interest is not paid. As long as Biden is in Washington, I do not see inflation deflating much. I Bond with fixed rate 4%+ is indexed to inflation which provide the present rate of 9.26% return.

Comments (24)

Posted by Kevin
a resident of Castlewood
on Jul 1, 2022 at 5:39 pm

Kevin is a registered user.

Even though statistics in this piece are correct, the conclusion that Biden is to be blamed for everything is suspect and smells more political than analysis based on data and facts. I do agree with recommendation for I bonds and want to add one more nugget that the author forgot - you can invest in I bond every year with $10k max per year.

Also, what is this?

*Microsoft, Tesla, Amazon, Warren Buffett Berkshire Hathaway:

Did the author forget to end this sentence?


Posted by Michael Austin
a resident of Pleasanton Meadows
on Jul 1, 2022 at 6:24 pm

Michael Austin is a registered user.

Note the asterisk on Bue Chips*? Text omitted, later inserted bottom of article.

Note the last paragraph, "Maximum purchase allowed is $10K max per person". It was also noted I bond must be held for one year. Rate change would determine future purchase.


Posted by Michael Austin
a resident of Pleasanton Meadows
on Jul 1, 2022 at 7:03 pm

Michael Austin is a registered user.

Continuing with democratic president in power:

Obamas presidency damaged the democratic party. During his presidency, democrats lost over nine hundred state legislature seats, twelve state governors, sixty-nine U.S. House seats, Thirteen U.S. Senate seats. that was two terms eight years. Biden is on pace to surpass that in two years of his first term.

Regarding the recent rage from Kamala Harris not getting respect. Respect is earned. It is not about title. When people respect you only because of your authority, they will give you minimal effort.

Kamala Harris problem is her morals, her personal behavior. the manner she applied to climb the ladder to position herself, is well documented. that work ethic is public knowledge and has been confirmed. Difficult to garner respect for that work ethic.


Posted by Kevin
a resident of Castlewood
on Jul 1, 2022 at 8:35 pm

Kevin is a registered user.

The author is now moving from economics to elections in his strong criticism of Democrats. It will be interesting to see how this type of political rant would impact voters. There are less than 80 views of this piece on PW so far, mostly from me and the author, and Democratic candidates have won their elections with over 60% and 70% of support from voters. I can imagine it must be difficult for the author to reside in California.


Posted by SHale99
a resident of Village High School
on Jul 2, 2022 at 11:16 am

SHale99 is a registered user.

ha, this is like when Trump took credit for any day the market was up and ignored it when it was down.

Yeah, Prez gets blame for the markets. <sigh>

You believe that, please don't invest.


Posted by Get the Facts
a resident of Another Pleasanton neighborhood
on Jul 2, 2022 at 3:07 pm

Get the Facts is a registered user.

Funny how the Republican presidents get us into recessions, and the Democratic ones get us out: Web Link


Posted by Michael Austin
a resident of Pleasanton Meadows
on Jul 2, 2022 at 3:55 pm

Michael Austin is a registered user.

@Get the Facts:

Your link is to opinion piece written by Michael Gordon.
Fact is Michael Gordon is a democratic party strategist, served in the Clinton White House.

Michael Gordon is a contributor with CNN, MSNBC, CNBC and other far left organizations.

You should balance your reading diet with John Hawkins columnist for Town Hall and PJ Media.


Posted by SHale99
a resident of Village High School
on Jul 3, 2022 at 2:27 pm

SHale99 is a registered user.

so tell me: was Trump totally responsible for the market increases while he was in the 'office'.

Please, do explain. Asking for a friend.


Posted by Get the Facts
a resident of Another Pleasanton neighborhood
on Jul 4, 2022 at 3:36 pm

Get the Facts is a registered user.

Fine, it's an opinion piece, but it doesn't change the facts:
""Today's NBER news means that over the last 40 years, a recession has begun under every Republican president and no Democratic presidents."

That's true. Since Ronald Reagan's inauguration in 1981, there have been five recessions in the United States. They started in July 1981, July 1990, March 2001, December 2007, and February 2020. There have been four Republican presidents over these four decades, and at least one recession began under their respective tenures in the White House.

Over the same period, there have been two Democratic administrations, and the economy grew during both of their presidencies.

I'm reminded of a quote a prominent political figure said on CNN in 2004: "I've been around for a long time and it just seems that the economy does better under the Democrats than the Republicans."

The person who made the observation was, of course, Donald Trump."
Web Link

Trump was not totally responsible for the market increases, of course, just as he was not totally responsible for the recession as well, Covid was not his fault. How he handled it though...


Posted by Michael Austin
a resident of Pleasanton Meadows
on Jul 4, 2022 at 6:44 pm

Michael Austin is a registered user.

When those republican presidents took office following democratic president, the recession was at the door, the republican inherited it.

Again, you keep quoting, using liberal media sources, MSNBC contributor Steve Benen, ultra-liberal blogger, producer of the Rachel Maddow Show, an of the chart far left personality.

I will not continue responding to ongoing anonymous posters. Identify yourself (verified) perhaps then we can have a conversation.


Posted by Get the Facts
a resident of Another Pleasanton neighborhood
on Jul 4, 2022 at 7:46 pm

Get the Facts is a registered user.

"When those republican presidents took office following democratic president, the recession was at the door, the republican inherited it."

Possibly, just possibly, those recessions wouldn't have happened if a Democrat had been in office. But possibly not, we'll never know, what we do know is that the facts show that Republican presidents cause recessions, Democratic presidents get us out. Those are facts. If you dispute them, show references. I give references, you give opinions.

And sadly, I need to stay anonymous. I was burned once before on this forum when I posted my name, never again. I respect you for posting your name, but I cannot. I also respect if you don't want to continue the dialogue.

I do think the Trump quote is hilarious, I'd love your thoughts on that.


Posted by Dena
a resident of Walnut Hills
on Jul 11, 2022 at 3:58 pm

Dena is a registered user.

The man has been in office what a year and a half??
He inherited COVID and all the fall out a pandemic would cause
Geeez people give the guy a break


Posted by Dena
a resident of Walnut Hills
on Jul 11, 2022 at 4:09 pm

Dena is a registered user.

Michael Austin

Obamas presidency damaged the democratic party.

Wrong Obamas Presidency brought the racist crazy people out from under the rocks and Trump legitimized them and gave them a platform. Certain people can't stand the idea of a black US President

During his presidency, democrats lost over nine hundred state legislature seats, twelve state governors, sixty-nine U.S. House seats, Thirteen U.S. Senate seats. that was two terms eight years. Biden is on pace to surpass that in two years of his first term.

Regarding the recent rage from Kamala Harris not getting respect. Respect is earned.

Not when your a freely elected VP; respect the office

It is not about title. When people respect you only because of your authority, they will give you minimal effort.

Kamala Harris problem is her morals, her personal behavior. the manner she applied to climb the ladder to position herself, is well documented. that work ethic is public knowledge and has been confirmed. Difficult to garner respect for that work ethic.

You no nothing of her work ethic; she's the VP of the United States.

What have YOU accomplished lately?


Posted by MichaelB
a resident of Pleasanton Meadows
on Jul 11, 2022 at 7:13 pm

MichaelB is a registered user.

"Wrong Obamas Presidency brought the racist crazy people out from under the rocks and Trump legitimized them and gave them a platform. Certain people can't stand the idea of a black US President"

Wrong. Obama campaigned as a "moderate" but didn't govern that way.

He was a left-wing radical with a paper-thin resume - and never properly vetted by the press. Any criticism of his documented (left wing) positions on the issues/votes taken/associations was met with irritating and predictable claims just like yours - "it's racism". He introduced and mainstreamed the "America is a greedy/racist nation" that characterizes the out of touch/divisive leadership of the Democrat Party today.


Posted by John
a resident of Birdland
on Jul 11, 2022 at 7:31 pm

John is a registered user.

Dena, what have you done today.


Posted by Michael Austin
a resident of Pleasanton Meadows
on Jul 11, 2022 at 7:58 pm

Michael Austin is a registered user.

Why are democratic candidates ignoring the fatherless homes problem in America?

The three candidates for Alameda County district attorney prior to the primaries did not address the fatherless homes problem.

Why is everyone ignoring it?

Fatherless homes may be America's number one problem." ...Dr. Tom Snyder

For the record: There was no republican candidate running for Alameda County district attorney.


Posted by Get the Facts
a resident of Another Pleasanton neighborhood
on Jul 12, 2022 at 1:16 pm

Get the Facts is a registered user.

"Why are democratic candidates ignoring the fatherless homes problem in America?"

"Democratic" candidates? Surely you jest. The poster child for being an absentee father - and having to get sued to get him to pay child support - is Republican candidate (backed by Trump, I might add) for Senate Herschel Walker. Web Link


Posted by Michael Austin
a resident of Pleasanton Meadows
on Jul 12, 2022 at 1:39 pm

Michael Austin is a registered user.

His campaign admitted, "Walker has four children". He is not ignoring it.

Walker is an undesirable republican candidate for US senate. Republican party needs to move on from Trump. I doubt Walker will be elected. But again, there is Kamala Harris, her score, she is VP of this Nation.

No morals are not an issue.


Posted by Get the Facts
a resident of Another Pleasanton neighborhood
on Jul 12, 2022 at 2:22 pm

Get the Facts is a registered user.

I'm happy you say he's an undesirable candidate, which we both agree on, but he might win. And we can disagree on other things, but we both agree that this country needs to move on from Trump, but there are many, many others that don't agree with us.


Posted by Pleasanton Parent
a resident of Pleasanton Meadows
on Jul 12, 2022 at 5:24 pm

Pleasanton Parent is a registered user.

Democrats are the main ones holding onto trump as a viable candidate ha ha it’s used to stoke their voting body for everything.

Election has been over, Biden won, move on. Deliver on something


Posted by SHale99
a resident of Village High School
on Jul 12, 2022 at 5:55 pm

SHale99 is a registered user.

>>>Election has been over, Biden won, move on. Deliver on something

that's funny. Now go tell Trump's 30% that he legit lost....in a landslide. Might want to be careful that 30% reacts badly to facts.


Posted by Get the Facts
a resident of Another Pleasanton neighborhood
on Jul 12, 2022 at 6:56 pm

Get the Facts is a registered user.

"Democrats are the main ones holding onto trump as a viable candidate...."
Ahhhh, no. Trump wants to run and probably will run, and all the Democrats and most of the independents and many of the Republicans don't want him to, but the 30% SHale mentions are the ones who want him to. They are also the ones who think Trump is the second coming of Jesus, that he has their best interests in mind, that he won the election, and that the January 6th hearings are a show.

And the loss of choice for women will stoke the voting body more than Trump.


Posted by Pleasanton Parent
a resident of Pleasanton Meadows
on Jul 12, 2022 at 7:14 pm

Pleasanton Parent is a registered user.

See….look at that.

Dems are the ones making the the case for him to run again. No moderates want him to, nor believe he won.

Y’all need to move on.

It’s like the cat that finally caught the bird it’s been swatting at but doesn’t know what to do with it so it drops it and keeps swatting at it


Posted by MichaelB
a resident of Pleasanton Meadows
on Jul 13, 2022 at 7:23 am

MichaelB is a registered user.

"Why are democratic candidates ignoring the fatherless homes problem in America?
The three candidates for Alameda County district attorney prior to the primaries did not address the fatherless homes problem. Why is everyone ignoring it?"

Democrats ignore it because keeping people dependent on the government (them) provides a reliable source of votes. Successful/self reliant people (raised by fathers) are less likely to support their counterproductive welfare state/class envy policies that don't solve problems while encouraging irresponsible behavior.


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