Bernie Bags It: Stock Market Surged as Sanders Exited Presidential Race

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Looks like Joe Biden is now the presumptive nominee of the Democrat Party, as Bernie Sanders exited the Presidential race. When he announced his candidacy was done, the stock market surged. Why would that be? Because socialism and capitalism are incompatible. But Bernie’s followers are highly unhappy.

stock market
Twitter- Bernie Sanders

On Tuesday, a disastrous primary election in Wisconsin had some complaining that Sanders should have dropped out sooner. Only 5 of 180 polling places were open, and lines to get in to vote were crazy. Social distancing? Not a chance. According to the Washington Examiner, people were still standing in line at 11 p.m..

As Sanders exited the race…

The reaction was interesting.  As the stock market continued its upward swing at the news, people who stood with Bernie were “gutted” (to use the words of one of them).

One Twitter user wrote: “We donated more than we could afford for you … but understand, this household will *not* vote for Biden. We won’t.”

Twitter photo @Balancement

So what will happen now? Sanders supporters promised violence back in the fall if he didn’t get the nomination. But with him suspending his own campaign, now what will they do? Is the “revolution” dead? Or have they won anyway?

One supporter reminded folks that no matter what people think of Sanders, the Democratic party is now left of center because of him. Maybe. The contention that Bernie’s leftist polices are now closer to mainstream may not be correct, evidenced by the way the party almost fell over itself to vote for Biden during the primaries. Biden is not a moderate, by any sense of the word, but people THINK he is.

Has Bernie lost the race but won the war? It looks that way:

Stock Market

Does the Stock Market think Biden is moderate? The specter of Bernie Sanders and his Communist views getting the Presidency rattled more than just the Democrats. Wall Street threatened to vote for Trump if Sanders made it to the nomination. Now they won’t have to worry, and they still might vote for Trump if Joe Biden keeps sounding like a candidate for a rest home.

“U.S. equity markets rallied to session highs Wednesday after Sen. Bernie Sanders announced he was suspending his presidential campaign.

The Dow Jones Industrial Average gained nearly 700 points, or 3.1 percent, while the S&P 500 and Nasdaq Composite rose 3.1 percent and 2.43 percent, respectively. The gains have lifted the S&P 500 out of its bear market, which would officially end with the index closing above 2,684.88.” Fox

So the volatile Stock Market had a happy morning with Sanders out. Hard hit Carnival Cruise Lines received a large purchase by Saudi Arabia which gave them a boost. And with some area seeing a slight leveling of the virus, the Market was happy. We’ll see what happens tomorrow.

H/T Uncle Sam’s Misguided Children

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