So long to 2022 and good riddance.

Could the economy and stock market have performed any WORSE than these past 12 months? You’d have to go back to 2008 to see bigger losses.

Americans lost an estimated $13.5 trillion in their net household wealth after adjusting for inflation. The chart below shows the nominal and real returns on the three major stock indices and the return on bonds.

Nominal  Real

Nasdaq  -33%      -38%

S&P       -20%      -25%

Dow       -9%        -15%

Bonds    -12%

Wait. We thought all these trillions of dollars of government spending were supposed to STIMULATE the economy.