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.
Pretty sure everybody needs to eat.
…I’m not entirely sure what you’re trying to say.
The world does not stop because prices fall, people still have needs and wants. Just because money will be worth more down the line does not mean people will suddenly stop impulse buying or purchasing necessities. It means superfluous spending would drop. Billionaires would loose enormous wealth as people stop playing with futures, it would not kill an economy it would kill the wealth gap and wealth classes. The biggest problem is the US sells its debt but in a deflationary time said debt loses value not gains it. But even that you can reverse to still encourage growth. The biggest “issue” is the common man drives the economy in a deflationary period by purchasing nessacities instead of bullshit waste to drive growth numbers.