Mr. Biden has touted the recent rise in stock prices. He's right that his stock has continued to fall over the past 14 months. The S&P 500 index exceeded 5,000 for the first time in history. This is an increase from 500 cases about 30 years ago.

For all its problems, the United States is a unique alpha male nation. The dollar is the only currency that matters globally (the euro and her BRICS are weaker sisters), and the US economy, for the first time, all Socialist Europe combined. Our Magnificent 7 technology companies (Amazon, Apple, Google, Invidia, Meta, Microsoft, Tesla) are moving closer to becoming even more valuable companies than they are today. all Total shares combined in other countries excluding China.

But it's not just Biden's stock market bullish talk that's being policed. Most of the market's gains just made up for the Biden administration's dismal returns. His first two years in office were disastrous, with stock prices losing nearly 15 percent of their value.. In other words, for the most part, the past 14 months have only made up for the ground he lost in the 2022 stock market crash. (Related: Stephen Moore: A True Story of Two Americas)

Yes, it is true that stock prices are at record highs in nominal terms. But one of his first rules of investing is that you need to be careful with your investments. rear– Gains from inflation. If you invest in a widget company and ten years later its stock doubles in value, and all other dollar price levels double, sorry, but what can you buy with that profit? It's not a good idea to judge based on.

So, let's take a look at what happened to stock prices during the first three years of President Biden's inauguration, that is, until the end of January 2024.

During this period, price levels increased by approximately 18%. Therefore, the S&P 500's real (inflation-adjusted) return after three years of the Biden administration will be just 8%. This is pretty poor, and well below the average annual real return since the New York Stock Exchange opened (more than 20% average over three years).

Biden's performance is also far worse than the bull market under Trump. At the time President Trump took office, the S&P was up 36% in real terms, or more than quadrupled.

President Trump has argued that the stock market's rise in recent months is a result of his increased chances of being elected president in November. I don't give much weight to that claim. If the stock market crashes, will he be responsible too?

However, according to analysis by Scott Bessent, ace investor and member of the Economic Council's Prosperity and Liberation Committee, here's how the stock market has moved over the past year. have There was a positive correlation with betting market odds that Trump would win. His approval rating currently stands at just over 50 percent. This relationship may be spurious, and of course the biggest factor in stock valuation is earnings.

One last piece of investment advice. Investors should keep an eye on the Democratic agenda if they win in November. The Biden economic plan includes doubling capital gains taxes, taxing unrealized capital gains, and increasing both corporate and dividend taxes. This is certainly very bad news for stocks.and thatyou can take it to the bank.

Stephen Moore is a senior fellow at the Heritage Foundation and co-founder of the Unleash Prosperity Committee. He is the co-author of the book “Tramponomics”.

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.

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