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Breitbart Business Digest: Trump snarling at Musk as market pushes bearish

The man whose mother called him François-Marie Arouet, but called by all Voltaire, was asked if he would abandon Satan and all his creatures when he died. Voltaire refused, on the grounds that “now is not the time to make new enemies.”

Donald Trump is definitely not Voltaire. The former and possible future president of the United States mocked the news that Elon Musk announced that he would next vote for the Republican candidate.

“Wow, Elon Musk didn’t tell me until now he only voted for Democrats,” Trump said. company, fake twitter, wants to be republican because democrats are “hate party”. I would have told him that a long time ago, but it was really a pile of pain, greed, corruption, and really terrible politics. Good luck Elon, have fun!!! ”

@realDonaldTrump/Truth Social

Trump is not afraid of making new enemies, he is happy about it.

Ironically, Trump actually supports Musk’s main complaint that Twitter is counting the number of fake accounts on its platform. Note that if Truth Social really does work and Musk buys Twitter, the two will have competing social media platforms. So expect some competitive criticism.

Surprisingly, Musk has so far refused to respond, while not shying away from responding to critics. Perhaps, like Voltaire, he decided that now was not the time to make enemies.

The market moved strongly on Friday. The stock tumbled later in the morning after opening higher overnight after mostly positive futures. The S&P 500 has entered bear market territory, defined as a 20% drop below its recent high. Then things changed again and stocks were almost unchanged. S&P dropped Only Less than 19 percent of January is near the top, so we’re officially out of the bear cave.

The S&P has been down for the seventh week in a row. See also Nasdaq Composite. According to Dow Jones, this is the longest consecutive loss since 2001. But the truly impressive past is the Dow Jones Industrial Average, which has fallen for eight consecutive weeks. This is something the market has failed to achieve since 1932, when the country fell into the Great Depression.

Trader Patrick King was working on the trading floor of the New York Stock Exchange on May 12, 2022, in New York City. (AP Photo/John Mincillo)

President Joe Biden’s approval rating has dropped to its lowest level since he took office in May, according to a new Associated Press poll. What is truly unusual is what the AP calls “a deepening pessimism emerging among members of its own Democratic Party.” Sixty-two percent of Democrats said Biden’s policies could hurt the economy or nothing has changed. Sixty-five percent of Democrats rated the economy worse than 50 percent in March.

Not surprisingly, the inclusion of Republicans and independents in this mix makes the numbers even more bleak. Overall, two-thirds of Americans disagree with Biden’s handling of an economy that hasn’t changed much in the past few months. Just 18 percent of Americans say Biden’s policies have helped rather than hurt the economy, compared to a pathetic 24 percent in March.

It almost comes to our minds to say that things might not be getting worse for the Democrats as we approach the midterms, but then we go back to stock market returns and remember that you can always lose another 20 percent until you hit zero.

Source: Breitbart

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