Stock Market has lost $7.6T since Biden "took office".
(twitter.com)
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Xiden's handlers have definitely done as much damage to the US economy as they could. However, the stock market has been used by the bankers to try to control and destroy the US and world economy. The amount of money and talent being poured into the stock market is not remotely proportional to value it has to the economy. A value which is very limited when it works properly. As it works now, it only serves to destabilize the economy (instead of stabilizing it as it's supposed to) and transfer wealth from everyone to the oligarchs doing far more harm than good.
The "stock market" is a way for bankers and the government to get people to willingly throw their money away to finance all the evil shit they do.
That is a part of it. Another part of it is to create booms and busts in the economy so during the busts, the government can transfer wealth from everyone to the people they want and this is usually unwillingly as these corrupt bailouts are almost always unpopular with everyone (both left and right), and yet they keep happening.