To the editor,
I won’t complain about Jerry Grell’s letter of Dec. 16; it was expected and so predictably a regurgitation of words from right-wing media mouthpieces.
Mr. Grell might believe that the stock market hit “an all time low” on some Friday a few weeks ago, but it clearly did not. Perhaps he’s referring to Biden’s entire term, but that doesn’t work either. The Dow was 30,997 on Jan. 22, 2021, and, at the nadir of the Dow’s drop a few weeks ago on Dec. 3, 2021, it was 34,580!
Furthermore, while the Dow might have “hit records 131 times” during Trump’s term, this accomplishment is like Steph Curry’s new NBA record for making 3-pointers. With about 45 games yet to play, Curry will break that record about 200 times over the next couple months!
The stock market during Trump’s term, according to Mr. Grell, was “very stable.” A remarkable statement! There were many brief periods of 600-1,000 point swings (instability). Here are some non-Covid-related Dow Jones figures: Jan 26, 2018, 26,117; Feb. 9, 2018, 24,191; Feb. 16, 2018, 25,219; March 2, 2018, 24,538; March 9, 2018, 25,336; March 23, 2018, 23,533. Similar fluctuations happened all the way to the end of his term.
Mr. Grell diminishes the value of $4.5 billion for Minnesota roads and bridges, and wonders which “three bridges this will cover” by pointing out that “the 2007 Minneapolis bridge collapse cost was 400 million”. The missing context here is that none of Minnesota’s bridges in need of repair will cost anywhere close to $400 million. Would he be fine if they crumbled?
It’s obvious that a Democrat in office on any level can neither please Mr. Grell, nor generate praise of any degree. Even his projected 10% gain on his 2021 investment portfolio, which is far greater than the market’s historical annual average, was not in the least bit credited to Biden, although he boasted of the market’s gains during Trump’s term.
The saddest part of this is that Mr. Grell is representative of millions of Trump-following Americans.