As the United States’ economy continues to crumble under the Biden administration, experts are warning that stocks and cryptocurrencies aren’t showing signs of regaining positive momentum.
On “Fox & Friends,” FOX Business host Stuart Varney gave a dire warning about what may be to come that will affect millions of Americans across the country. The host noted that he does not see a comeback for stock or cryptocurrency value and that things will only get worse.
In terms of the markets, Varney said he does not see a comeback happening in the near future because the “wall of money” has halted.
“They may come back a little, but they’re not going to come all the way back. So that wealth that has been destroyed comes back itself. I don’t think so. For a start, you no longer have that wall of money coming into the crypto market and the stock market from the Fed and from Congress. And without that wall of money. I don’t see how they’re going to come all the way back, wealth destruction,” Varney explained.
Stuart Varney – The Fed Will Have To Force A Recession To Combat Inflation. Essential Knowledge 💥 pic.twitter.com/4NW8QGuob0
— Romeo Cardinali (@CardinaliRomeo) June 17, 2022
Under the Trump administration, all types of Americans were flourishing, gas prices were low, foreign relations were stable and small businesses were thriving. Now, the complete opposite is true in all of these areas showing that it doesn’t take long to destroy economic and societal potential.
Republican leader, Florida Gov. Ron DeSantis, slammed Biden for his terrible decisions regarding oil. In addition, he called the president out for “facilitating this” regarding rapidly rising gas prices.
Biden sent a scathing letter to the oil industry criticizing them for the costs. Still, the gas companies objected and said that the administration was the one hindering them with their policies.
DeSantis quipped that if he could reverse time and be in charge, all he would do is the opposite of what Biden has done and the country would be booming.
DeSantis said, “I mean, I really think it’s, he’s got a lot of chutzpah to attack energy producers when he campaigned saying he was going to shut down energy production in the United States,” adding, “He said, we’re not going to let them drill, we’re not going to give leases, we’re not going to do any of that. And so then he comes in, he puts really negative policies to try to kneecap American energy production. And of course, that’s been a huge driver as to why we now have gas higher than we have ever seen it before, in my lifetime in this country.”
— Daily Wire (@realDailyWire) June 16, 2022
As stocks and crypto continue to drop, Americans will need to sure up and prepare for increased inflation and a recession that may just test us as a semi-free country.