Kamalanomics Melts Stock Market, World Economy Tanks On Her Watch

Vice President and presumptive Democrat nominee Kamala Harris repeatedly insisted that "Bidenomics is working." However, investors and voters, the ultimate arbiters of whether a given President's economic policies are working beg to differ.

The latest Rasmussen Reports national telephone and online survey finds that 45% of Likely U.S. Voters believe the Biden administration’s economic policies have been generally successful, including 21% who see them as Very Successful. Fifty-three percent (53%) consider Biden’s economic policies unsuccessful, including 40% who say Biden has been Very Unsuccessful on the economy.

Just 22% think Harris's economic policies would be better than Biden's policies, while 38% believe her policies would be worse and 33% see Harris and Biden about the same in terms of their economic policies.

Less than a quarter of voters think Vice President Kamala Harris would do a better job on the economy than President Joe Biden, who isn’t considered very successful on the issue.

By contrast, 51% say former President Donald Trump's economic policies would be better than Biden's policies. Thirty-eight percent (38%) think Trump’s economic policies would be worse and just five percent (5%) consider Trump and Biden to be about the same in terms of their economic policies.

With voters expressing such little faith in the ability of the Democrats to maintain the stability of the American economy, let alone spur economic growth it is little wonder that the stock market tanked after the latest unemployment numbers were released.

The jobs report documented a sharp upturn in the unemployment rate from 4.1% to 4.3%, the highest level since October 2021. The Biden administration has been trying to argue that its policies have worked to broaden the employment base and raise wages, even as inflation has eroded Americans' buying power.

The Dow Jones index dropped 800 points on the news after losing nearly 500 points on Thursday. The S&P 500 index dropped 108 points, or about 2%, while the Nasdaq Composite fell by 384 points, or 2.2%.

The Dow is now down ~1,000+ points, the Nasdaq shed 1,000+ points for the first time ever, and cryptocurrency markets are tanking amid "extreme fear" of a Kamala Recession.

Kamala pushing to raise taxes on 91% of Americans and a higher business tax rate than socialist Venezuela, markets will not respond favorably to her Radical Left lunacy and turn around any time soon.

CNBC reported with the global stock markets in the grip of a deepening rout, investors turned to one of the most time-tested indicators to determine whether the U.S. economy is in a recession: The "Sahm rule," which is named after an economist and predicts when the economy is headed into a recession.

The so-called Sahm Rule has observed without fail that the initial phase of a recession has started when the three-month moving average of the U.S. unemployment rate is at least half a percentage point higher than the 12-month low.

The weaker-than-expected July jobs report on Friday officially triggered the Sahm Rule. The data led investors to worry that the Federal Reserve may be behind the curve in cutting interest rates to fend off a recession.

The Trump campaign was quick to point out who bears responsibility for the economic disaster, “Kamala Harris has proudly and repeatedly celebrated her role as Joe Biden’s co-pilot on ‘Bidenomics.’ She cast tie-breaking votes in the Senate for spending that put inflation on steroids, and despite the evidence that America’s working families are hurting she tells us these failed plans are working."

"The basic necessities of food, gas and housing are less affordable, unemployment is rising, and Kamala doesn’t seem to care," the Trump campaign concluded.

• 2024 Election

• Democrat contributions

• Kamalanomics

• 25th Amendment

• Stock Market Crash

• recession

• ActBlue donations

• Donald Trump campaign

• Kamala Harris campaign

• Kamala Harris senate record

• vice president vetting

• Michigan Governor Gretchen Whitmer

• North Carolina Governor Roy Cooper

• Arizona Senator Mark Kelly

• Minnesota Governor Tim Walz

• Pennsylvania Governor Josh Shapiro