Worst start year for markets since1872

 Breitbart:

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Michael Hartnett, the chief investment strategist at Bank of America Securities, ran the inflation-adjusted numbers in a note for clients this morning. He found that this has been the worst start of the year for the S&P since 1872, the year Jesse James and Cole Younger led their gang to rob a bank in Columbia, Kentucky, and ended up shooting a teller who refused to open the vault.

At the time, the country was led by President Ulysses S. Grant, a military hero who was not exactly an ace at economic policy. The following year, the country fell into what was then known as the “Great Depression.” This severe downturn lasted from 1873 to 1879. At 65 months, it is still to this day the longest-lasting contraction identified by the National Bureau of Economic Research, outlasting the 43-month contraction of the Great Depression of the 1930s. Ten states, scores of railroads, hundreds of banks, and thousands of businesses went bankrupt during the 1870s Great Depression.

As bad as that sounds, Hartnett points out that 2022 is looking like the worst year for government bonds since 1865. Government bonds fell 15.4 percent in the first half of the year, even before adjusting for inflation. Year over year, they were down by around twice that. And that is before adjusting for inflation (which is hard to do when measuring bonds issued in a variety of currencies from all around the globe.)

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Democrats must shoulder the blame.  From Biden to Congress Democrats are in charge. 

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