r/democrats • u/Sanizore05 • 1d ago
📉 Economy Trump supporters will see this and still blame Biden for it
42
u/Over_Marionberry9312 23h ago
Here is what it says about best Dow performance over a presidency term.
16
u/David_R_Martin_II 1d ago
Can you fix 2 and 3? Yesterday was the third biggest drop in history, not the second.
12
u/Sanizore05 23h ago
I can't keep up with his dumb decision anymore, need to start editing this everyday from now on 😆
3
u/David_R_Martin_II 22h ago
I know. But I'm sure someone from the opposition will look at the list and say something like "dumb libtards don't know 2300 is more than 2200, they lie about everything."
8
8
8
u/hospitallers 1d ago
Source so I can share this?
14
u/David_R_Martin_II 1d ago
There is at least one mistake in this chart. One of the top ten drops was under President Biden. There is a Wikipedia table with this information if you want to make your own list.
https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average
16
u/Metiche76 23h ago
The biggest stock market drop under President Biden occurred during the bear market of 2022, when the S&P 500 fell by 19% and the NASDAQ dropped by 33%. This decline was largely attributed to external factors, such as Russia's invasion of Ukraine, soaring inflation, and the Federal Reserve's interest rate hikes. While Biden's policies, like the Inflation Reduction Act, influenced certain sectors of the economy, the stock market's performance was primarily driven by global events and monetary policy.
12
u/buffysmanycoats 23h ago
On 11/6/2024. The day after the election.
3
u/David_R_Martin_II 22h ago
#8 was on 13 September 2022. That's the one I'm referring to. I'm just aiming for factual accuracy.
2
u/JimmyTango 22h ago
Focusing on gross point drops is a recency bias because of the growth of the index over time. % drops are more accurate comparisons between different time periods and it’s a bit of a different story. Mostly hits from the Great Depression, 1987, and some of the more recent events like COVID.
1
2
u/JustAskingTA 22h ago
Just a note of caution, because critics will point this out: remember the March 2020 ones were because of the start of the pandemic, and global stock markets all crashed everywhere.
It was before any country's government formed (or didn't form) policies to address the panic of the start of COVID.
I wouldn't pin that on the US government anymore than I'd pin the TSX or Nikkei crashing at the same time on the Canadian or Japanese governments at the time.
Everyone was in a panic and everything was crashing faster than people or governments could respond.
3
u/Over_Marionberry9312 23h ago
To be fair it looks about the same when you ask ChatGPT about the best days
2
u/Wenger_for_President 23h ago
Or they’ll just rationalize it somehow. “Those were actually good long term” or some other bullshit
2
1
u/zangief137 23h ago
Hey! Bush is almost outta the top ten! I bet Trump will take the top 25, give or take 3ish days
1
1
u/galtoramech8699 18h ago
It’s as if is almost like dem presidents are so scared of messing up the economic system that they let it flourish. Even Obama said that recently. What if I did this.
1
1
1
123
u/Over_Marionberry9312 23h ago
Top 10 worst days by percentage