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🗓️ 19 April 2024
⏱️ 27 minutes
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0:00.0 | It's Friday, April 19, 2024. I'm Albert Moeller and this is the briefing. A daily |
0:10.6 | analysis of news and events from a Christian worldview. Does it matter whether Donald |
0:16.4 | Trump or Joe Biden is elected president of the United States in November? Well, interestingly, |
0:22.0 | right now, according to the stock market market it doesn't appear to matter all that much big |
0:26.0 | interesting issue here the New York Times has the interest Jeff Summer wrote the article |
0:31.2 | the headline was this Trump or, the stock market doesn't care. |
0:35.0 | And that's because the stock market feels like it's done pretty well |
0:38.0 | under President Biden, but it feels like it did pretty well under President Trump. |
0:41.5 | It has to factor in the COVID-19 crisis and some other |
0:44.6 | things, but the point is the stock market at this point is not really taking sides in the presidential |
0:50.3 | election. Now when you look at this, there's some interesting worldview questions to ask. |
0:55.0 | Number one, would there be circumstances in which the stock market really would have an opinion? |
1:02.0 | And the answer to that is yes. |
1:04.4 | For example, you go back to an election such as, well, 1972, George McGovern on the Democratic |
1:10.0 | left versus Richard Nixon running for re-election as the Republican nominee. |
1:14.6 | Richard Nixon was no radical conservative, but George McGovern was, certainly by the standards |
1:19.5 | of his day, a pretty radical liberal. |
1:21.8 | That would have made a big difference when it came to the American economy and the a pretty between Jimmy Carter and Ronald Reagan. At that point, the investor class |
1:34.0 | was pretty much interested in moving past Jimmy Carter. |
1:38.0 | Ronald Reagan benefited from all of that. |
1:40.7 | And then, of course, you had changes |
1:41.8 | in terms of the market environment. You had the development of individual retirement accounts. More Americans got more deeply involved in the stock market. But then you fast forward to 2004. And I mean mean there's a lot of difference between Joe Biden and Donald Trump. |
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