Re:Nasdaq plummets 4% into correction territory
by thephyber on Thursday November 05, 2026 @04:52PM
(#50384976)
This is revisionism.
It's a "shitty economy" today because
(1) Interest rates were generationally low for an extended period of time from 2009 - 2022. We will likely never see that kind of sugar rush again in our lifetimes.
(2) Trump made a deal with OPEC+ during the early days of Covid to drastically cut supply for some fixed time interval. That agreement hurt our economy coming out of Covid.
(3) Consumers completely changed their behaviors and the supply chain had lots of random kinks in the flow of goods. Some countries still maintained closed borders. Ports had months log backlogs of ships waiting to offload cargo as shipping containers were in short supply where they were needed.
(4) The price of eggs and pork were massively inflated because of avian+swine flu outbreaks which we normally deal with by killing the entire flock.
(5) The west coast had a massive drought and a terrible fire season. This was awful for farming/ranching and we still haven't rebuilt the cow herds that shrunk from those years.
Biden's regulatory regime had almost nothing to do with the efficiency of the economy during his term. Just because he didn't open more of Alaska's wilderness to fresh drilling or because he didn't approve the KeyStone XL pipeline didn't have any noticeable effect on the US economy (except perhaps to keep some more truck drivers employed).
It's a "shitty economy" today because
(1) Interest rates were generationally low for an extended period of time from 2009 - 2022. We will likely never see that kind of sugar rush again in our lifetimes.
(2) Trump made a deal with OPEC+ during the early days of Covid to drastically cut supply for some fixed time interval. That agreement hurt our economy coming out of Covid.
(3) Consumers completely changed their behaviors and the supply chain had lots of random kinks in the flow of goods. Some countries still maintained closed borders. Ports had months log backlogs of ships waiting to offload cargo as shipping containers were in short supply where they were needed.
(4) The price of eggs and pork were massively inflated because of avian+swine flu outbreaks which we normally deal with by killing the entire flock.
(5) The west coast had a massive drought and a terrible fire season. This was awful for farming/ranching and we still haven't rebuilt the cow herds that shrunk from those years.
Biden's regulatory regime had almost nothing to do with the efficiency of the economy during his term. Just because he didn't open more of Alaska's wilderness to fresh drilling or because he didn't approve the KeyStone XL pipeline didn't have any noticeable effect on the US economy (except perhaps to keep some more truck drivers employed).