The last time this happened, voters didn’t credit Bill Clinton. That may be a bad omen, or a good one.

The last time this happened, voters didn’t credit Bill Clinton. That may be a bad omen, or a good one.

If the stock market chose presidents, Joe Biden would be a shoo-in for reelection in 2024. The market rallied this month amid growing optimism about the economy, with the S&P 500 zooming 1.9 percent Tuesday on news that the consumer price index rose only 3.2 percent in October (compared to 3.7 percent in September). Stocks rallied again Wednesday on news that the producer price index fell 0.5 percent. Commentators are no longer debating whether the economy will experience a “soft landing” (i.e., a reduction in inflation without recession). The only question now is when it will arrive. The S&P 500 seems to have decided it’s already here.

But the stock market doesn’t choose presidents. Voters do, and polls continue to show they think the economy is in terrible shape. A Financial Times–Michigan Ross Nationwide Survey conducted November 2–7 is absolutely brutal on this point.

  • FuglyDuck@lemmy.worldEnglish
    52·
    1 year ago

    “oh pity poor me, I can’t do ANYTHING!” is a bad look for a president. He’s done a fair bit, most of it is of the ‘taking care of business’ variety.

    Yes, he needs to work with congress- that’s part of his job. I’m not asking him to do anything that isn’t part of being… you know… the president. Just because he’s better than a field of alternatives, doesn’t mean he’s not also worse than… I don’t know, a progressive democrat? By and large, the president sets the political course for his party; at least while in office.

    but again, there’s things he CAN be doing. Like, going after monopolies; breaking up companies that are much too large- actions that increase competition and bring direct price actions. they can go after people for unfair (or fraudulent) practices in the sectors hurting people most. Instead hes focused on… ticketmaster… and airlines. yeah, they’re scummy companies. they should be dealt with. What about Kroger, Cargill, Nestle. Student loans. predatory landlords.

    There’s a lot that Biden could be doing. Or more specifically, directing his federal agencies to be doing.

    • squiblet@kbin.social
      61·
      1 year ago

      The FTC just wrapped up a major antitrust suit against Google. Not sure how you missed that one.

      But anyway, could Biden be less of a corporate Democrat and work more effectively as a populist? Sure. I’m not sure who you think was disagreeing with that. As far as breaking up large corporations in 5 different industries all at once though, and taking executive action on duties of the legislative branch, I think you’re expecting a bit much, which is not even remotely the same thing as “pity me I can’t do anything”.

      • kmaismith@lemm.ee
        1·
        1 year ago

        I think this thread has lost sight of the original argument. We shouldn’t elect a republican because breaking up a monopoly is so politically complicated that we know they cannot pull it off, therefore any republican promise to do so should be treated as a farce.

    • Flying Squid@lemmy.world
      62·
      1 year ago

      Yes, he needs to work with congress- that’s part of his job.

      They don’t want to work with him. Or have you forgotten that the only Republican goal anymore is “own the libs?”

      • Ensign_Crab@lemmy.worldEnglish
        2·
        1 year ago

        He ran on being able to work with them. Which was a giant crock of shit, just like all the “he’s the most progressive evar” nonsense we’re expected to buy now.

        • squiblet@kbin.social
          2·
          1 year ago

          Who would have believed that? Republicans supporting a Democratic president and helping pass legislation? It was hard enough to get Manchin, a supposed Democrat, to go along with it and typically zero Republican senators will.