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jsonstein@masto.deoan.org ("Jeff Sonstein") wrote:
“Other presidencies have begun with stock routs—Barack Obama’s first term, for example. George W. Bush started off even worse, but both were elected during bear markets.
If the current selloff becomes one—the unofficial definition is a drop of 20% from a peak—then the odds of a bear market sparking a recession have never been higher… Nearly all U.S. consumer spending growth lately has come from the wealthiest 10% or so of Americans—people most likely to own investments.”
- Spencer Jakab