The headline in the Wall Street Journal typifies the reaction to the Dow Jones Industrial Average closing above 40,000 for the first time in its history — “Dow at 40000 Is Welcome News for President Biden.”
The Journal calls it “the latest sign the economy has shrugged off the threat of recession,” and says it’s “welcome news for President Biden, whose approval — and re-election prospects — are being held down by public dissatisfaction with the economy …. The Dow is up nearly 30% since Biden was inaugurated in January 2021. That is slightly higher than where the Dow was at the same point in Donald Trump’s presidency.”
The Biden campaign couldn’t have said it better! In fact, the first thing his campaign did was parrot that opening, with a post on X mocking Donald Trump in a split screen showing Trump predicting a market crash should Biden get elected and […]
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