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Why Wall Street is celebrating Joe Biden’s low approval rating

Drumcollie

* See DC's list of Kook posters*
This question is not as off the wall as it might otherwise appear. Not only have researchers discovered a correlation between the stock market and presidential approval ratings, with one major exception that correlation is inverse. That would mean that what’s bad politically for Biden could be good for Wall Street.

Contrarians believe that extreme positions are, at a minimum, exaggerated—whether in politics or economics. That’s why, a year ago, they were not inclined to believe Biden was the savior that many commentators assumed. By the same token, they now don’t think he’s the disaster that many believe.

The notion that exaggerated political beliefs might have an impact on the stock market traces to work conducted by Ned Davis Research. The firm has found that, except for when the presidential approval rating is particularly low (below 35%), there is an inverse relationship between it and the return of the Dow Jones Industrial Average.

Why Wall Street is celebrating Joe Biden’s low approval rating (msn.com)


The question becomes, does Biden suck? According to lefty he doesn't, and Trump did. That means Trump was better for the economy.
 
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