Yesterday, we pointed out that the first half of the year was the worst for stocks since 1970. The S&P 500 dropped by around 20 percent, just shy of the 1970 bear market record of 21 percent. The Nasdaq Composite was down by 29.5 percent, the worst decline ever. The Dow Jones Industrial Average fell 15.3 percent, the worst since 1962. Biden’s economy sees worst first half for stocks since 1872!
We must confess, however, that things were even worse than we thought. Those declines are in nominal terms, meaning they do not take into account the massive inflation we’ve experienced in the first half of this year. Stocks were falling in dollars terms, but those dollars themselves were declining in value. As we’ve pointed out, again and again, inflation introduces chaos into financial calculations that can often conceal deep points of economic stress.
Read the full article by John Carney with Breitbart here.
Statement by Donald J. Trump, 45th President of the United States of America
NARA lost a whole hard drive full of HIGHLY SENSITIVE information from the Clinton White House—more than 100,000 Social Security numbers and addresses, Secret Service and White House operating procedures (EXTREMELY SENSITIVE!), political records, and who knows what else. They left the hard drive in an unsecured location, and didn’t realize it was gone for months—some say the data could have filled millions of books, and NARA admitted the material was “personally identifiable,” impacting thousands of White House staffers, visitors, and even one of Al Gore’s daughters. NARA actually had to offer a large ($50,000!) reward to try and get the information back. What else have they “lost”? How can Americans trust a system like this? There is no security at NARA. I want my documents back!