Joe Biden spoke yesterday, just 1 day prior to his six month anniversary of his office, to address what he claims to have achieved as well as where he believes we are headed. Although many people consider the jobs gained during the Biden administration to be jobs regained once the pandemic simmered down, Joe Biden touted the creation of, "60,000 jobs every three days." Compared to, "60,000 per month, prior to coming into office." He said, in his six months
...the US economy has experienced the highest economic growth rate in nearly 40 years." and that, "the forecasters have doubled their projections for growth in this year in the economy to 7% or higher.
He went on to take credit for saving the economy, "...from the brink.... "although it began to rebound months prior to his administration due to Federal stimulus and strategies set forth during Trump's Presidency. Joe Biden used this opportunity to advertise his Build Back Better Plan stating, "And my Build Back Better Plan will be a force for achieving lower prices for Americans looking ahead."
Despite what some people consider an unprecedented economic scenario that shows indications of retraction and other consequences such as inflation, Joe Biden sticks to his script ending by saying, ". I’m incredibly optimistic about what we’re going to be able to build together in the next six months and the years to come.” When Biden was asked about inflation going unchecked he replied,
There’s nobody suggesting there’s unchecked inflation on the way. No serious economist.
The market responded almost instantly as the Dow Jones saw it's worse day since last October with a retraction of -725.81 points, or (-2.09%). MartketWatch published on article on July 14th 2021, titled, "This one signal says a stock market correction may be on the way", that pointed to multiple trouble signals.
Volume: IPO proceeds were indicative of 1999 prior to huge tech selloff of March 2000.
Tech Companies: Also akin to 1999 tech leads the way now and saw higher second-quarter proceeds. compared to the last two decades.
First day gains: Higher gains than average for first-day IPOs
Historically high valuations
Retail investors: With retail investors participating more in IPO trading price can have larger moves or show more volatility.
Liquidity flood: This is attributed to the rising of the stock market even though indications show there are weak points such as jobs and supply chain challenges. Although it's hard to pinpoint when, eventually there will typically be some pull back in the market after a large rally once peak growth has been realized.
It seems everybody has their eyes on the market as everything plays out day by day and we see massive swings in commodity prices in the short and mid term price ranges. With this uncertainty sometimes comes panic in the market. Joe Biden assured everybody that, "...the fed is independent to take whatever steps it deems necessary to support a strong, durable economic recovery."
For many of us we can see what is on the horizon. With the economic system hanging by a thread, hyper-inflation hitting the retail markets, the Federal Reserve and their Blackrock cronies buying up all the debt and endless spending from an out of control government, we see the beginnings of a major economic decline for the United States. This is a marker for an even more predicted step down of the United States as the global economic leader. All of which is right on point with the new global standard derived from sustainability that is being implemented within the world economy.
To understand this better, we must see that the United States as an global economic powerhouse threatens the new global regime. Economic power must be centralized into a controlling body that is separate from a individual countries and outside of any nations regulatory framework. The ushering in of a socialist economy and authoritative policies in the Unites States is the stepping stone towards that which brings down the economic structure and eventually destabilizes the governing bodies. If the globalist have their way, then we could see this play out in the coming weeks, months and years as China steadies towards the global economic leader and the world reserve currency switches hands. All at the same the United States faces future will face mass uncertainty.