Jay Weber Show transcript 12-8-20 6:40am
So....the talking heads on the left have been attributing this good stock market run to Joe Biden.
They have been insisting that this recent market boom in November was ‘all about’ the American people being optimistic again because trump was leaving office and Joe Biden was going to be restoring the country and the economy...
Oh...this is excitement over Uncle Joe.
And it hasn’t been, of course.
The markets have boomed-despite the fact- that Trump lost. And they have for several reasons including that Republicans will likely keep the senate and we will have divided government.
One -very reassuring- thing for Wall Street was knowing that Biden’s 4-trillion dollars in new taxes, new taxes on capital gains taxes, new taxes on paychecks and corporations- weren’t going to materialize.
That was one reason for the good market run. Another one was the series of good news stories on the coronavirus vaccine. They caused new market runs.
And now- well into the new year- we should have dribs and drabs of positive news related to getting more people inoculated...getting more businesses and entire blue states opening up more fully....
This has nothing to do with the fact that Biden is going to be president and trump is out.
And I can prove it to you.
There’s a new small business survey out today that shows small business confidence has dropped to its lowest level on record following the election of Joe Biden.
And this isn’t from some conservative source:
Small business confidence drops to all-time low after Biden election
Let me put that in context, because it’s incredible: small business owners in America...are more negative on the economy under Joe Biden than they were about an economy under covid-19 last spring.
Now-that!-is saying something. America’s small businesses-do not-like the idea of Biden being president.
It is incredible how ignorant liberals are.
Even liberal business owners.
If you are a small business owner and-don’t think-that having a democrat president in office is going to have a negative effect on your business- you weren’t paying attention in econ class and you don’t know how the democrats bloat bureaucratic agencies at the expense of businesses.
No small business owner should be a lefty unless you are selling BLM t-shirts...or riot insurance in the inner city....
Otherwise-you should know better than to rely on democrats to help your business.
But this is an immediate and dramatic shift: small business owner confidence is down to its lowest level in the history of this survey....because Joe Biden won...and they know what that-really means-for their businesses.
After a great four year run of Trump’s policies.
These market rallies-are not-investors, owners, and suppliers – jubilant over Joe’s win.
It’s an idiotic claim.
Story source: CNBC
Photo credit: Getty