On the phone, on Friday’s War Room, Steve Cortez discussed the collapse of the US economy under Joe Biden in 2022.
In 2022, Biden wiped out $10 trillion in American wealth. This is at the unprecedented devastation level, folks.
CLICK HERE TO JOIN OUR NEWSLETTERSteve Bannon shared a chart from earlier this week that shows how 2022 was an aberration when compared to previous years. That means it was willful because no one, not even Joe Biden, could be that incompetent.
2022 was the absolute worst year for stocks and bonds since the year 1871. Again, willful. The figures are frightening, ugly, and unprecedented.
It’s no surprise that Americans are wondering what happened to their net worth. Where did it go?
Cortes told Bannon in the interview that the United States is usually in the upper right quadrant of the chart above. This is where you should be. But, if you notice, 2022 is in the lower left quadrant. Willful!
VISIT OUR YOUTUBE CHANNELWhere we are now on the chart means stocks and bonds are not doing well at all. It is the outlier of all outliers going back to almost the Civil War era. “This is what Joe Biden has done to this country,” Cortes said.
WATCH:
Biden pushed America into the bargain basement for our competitors in 2022, and the $1.7 trillion deal just signed hasn’t even factored in yet.
Cortes pointed out that conservative senators like Tom Cotton and John Boozman from Arkansas voted for the $1,7 trillion bill. John Thune and Mike Rounds, both Republican senators from South Dakota, also voted for this monstrosity. Are we now witnessing republican politicians in red states falling for the lies and deceitfulness of the Democrats and voting for bills that they would never and should never have voted for? The governors of these states should step up and have a coming to Jesus moment with these politicians because they are not representing the people of their states when voting this way. Did these men think through what their votes were doing to their own people? It sounds like the answer is no.
According to Money, the DOW had its worst year since 2008:
U.S. stocks ended lower Friday, booking their worst annual losses since 2008, as tax-loss harvesting along with anxieties about the outlook for corporate profits and the U.S. consumer took their toll.
How stock indexes traded
- The Dow Jones Industrial Average slipped 73.55 points, or 0.2%, to 33,147.25.
- The S&P 500 shed 9.78 points, or 0.3%, to 3,839.50.The Nasdaq Composite dipped 11.61 points, or 0.1%, to 10,466.48.
For the week, the Dow fell 0.2%, the S&P 500 slipped 0.1% and the Nasdaq slid 0.3%. The S&P 500 dropped for a fourth straight week, its longest losing streak since May, according to Dow Jones Market Data.
All three major benchmarks suffered their worst year since 2008 based on percentage declines. The Dow dropped 8.8% in 2022, while the S&P 500 tumbled 19.4% and the technology-heavy Nasdaq plunged 33.1%.
Stocks and bonds have been crushed this year as the Federal Reserve raised its benchmark interest rate more aggressively than many had expected as it sought to crush the worst inflation in four decades. The S&P 500 ended 2022 with a loss of 19.4%, its worst annual performance since 2008 as the index snapped a three-year win streak, according to Dow Jones Market Data.
“Investors have been on edge,” said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management, in a phone interview Friday. “It seems as though the ability to drive down prices is probably a bit easier given just how crummy the year’s been.”
Stock indexes have slumped in recent weeks as hopes for a Fed policy pivot faded after the central bank in December signaled that it would likely wait until 2024 to cut interest rates.
On the final day of the trading year, markets were also being hit by selling to lock in losses that can be written off of tax bills, a practice known as tax-loss harvesting, according to Kim Forrest, chief investment officer at Bokeh Capital Partners.
An uncertain outlook for 2023 was also taking its toll, as investors fretted about the strength of corporate profits, the economy and the U.S. consumer with fourth-quarter earnings season looming early next year, Forrest said.
“I think the Fed, and then earnings in the middle of January — those are going to set the tone for the next six months. Until then, it’s anybody’s guess,” she added.
Folks, this is intentional. It appears that the Marxists have finally figured out the way to take America down from within. They have wanted to destroy America and replace it with a utopian heaven on earth for over a hundred years. Joe Biden will go down in history as the conqueror of the United States, and he’s doing it from the back pocket of his Chinese handlers.
And don’t think this is simply the darkest days for America. The entire world will suffer by what the Biden administration has done because, like it or not, our allies, and even our enemies, have been riding America’s coattails for a very long time.
