LogFAQs > #935591786

I moved my retirement account to cash a few months ago. I also updated my resume/CV in case one day Id need to look for another job.

Why is it called the Obama-Biden recession?

1) The magnitude of the current stock market crash is abnormally high compared to historical pandemics. (SARS was more widespread, yet the stock market only declined by 10%.) It crashed by this much due to financial excesses and imbalances created by a decade of 0% interest rates during the Obama-Biden administration. Unprofitable startups were being valued at $50-100 billion because hedge funds were borrowing money at 0% and making speculative gambles. No doubt Obama had a hand in pressuring the central banksters he appointed to keep 0% rates and QE going as long as possible; unlike Trump who is far more open about his preference for lower rates, Obama prefers to push levers behind closed doors, the same way he personally interfered in the 2016 & 2020 Democratic primaries.

2) Investors are clearly spooked by the prospect of increased regulations and higher taxes that would be enacted in a potential Sanders (when he was frontrunner for 2 weeks) or a Biden administration.

So, what are you doing to prepare for the upcoming Obama-Biden recession?

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