So he’s so confident in his opinion that he changes it to the exact opposite position within hours? And we’re suppose to believe that? Do I believe 8am Charles or 10am Charles?
How do we know that he won’t flip his position again by lunch?
Exactly, and coupled with COVID cases spiking both here in America and over in Europe. There is no corollary to the election right now in the market movement.
That is not actually true at all. I’m sure there are some rabid partisan prognosticators out there pitching doom and gloom, ala Larry Kudlow, but the actual money-men are leaning positively into the news of a projected Biden win being better for businesses and the economy than a projected Trump re-election.
An analysis by Moody’s Analytics finds that if Biden wins and Democrats win a majority in both the Senate and the House and enact his plans, average annual economic growth would be 2.9% and average annual wage growth would be 0.9% through 2030.
Moody’s finds that some 18.6 million jobs would be created over Biden’s four-year term, and full employment would be reached in the second half of 2022. Full employment is typically defined as an unemployment rate under 5%. It is about 8% today.
In contrast, if President Donald Trump wins the election and Republicans win the majority in both houses of Congress, the economic picture dims: 10-year economic growth would average 2.4%, wages would grow by 0.7% over a decade, 11.2 million jobs would be created over four years, and full employment would be reached in 2024.