In One & A Half Market Days...
...of profit taking for the April bargains hunters, the S&P is down 1.7% YTD. Down for the year, to date. It's September!
It has gone from 2,295 to 3,404. This is under 150% is 44 months. Around 12%
The S&P went from 683 to 2,295 while Obama was POTUS. Nearly 335% in 8 years. Around 16% per year.
So, with trillions of fed money helping to prop the markets, the annualized return is WORSE than it was under Obama/Biden.
Why the investor class still leans right, is preposterous. (There's a LOT of libertarianism in the economics community. I've met plenty! So there's that.)
But, their own wallet should be making them rethink the "Rs are good for business" mindset.
Rebounding from the worst recession since the Depression, and still getting 16% on your money, then only 12% when the economy was humming should make anybody challenge their own current notions about economics & finance.
Probably not, though!
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