Democrat Senator Makes Major Bet Against U.S. Economy WhilePublicly Praising Bidenomics

  • by:
  • Source: Bongino
  • 08/04/2023

The financial records of Democrat Delaware Senator Tom Carper, a major ally of Joe Biden, reveal that his wife placed a significant bet against U.S. equity markets while he was singing Bidenomics’ praises. 

According to the Washington Free Beacon’s Chuck Ross:

Carper, a member of the Senate Finance Committee, disclosed this week that his wife on July 13 purchased up to $95,000 in shares of Ranger Equity Bear ETF and ProShares Short QQQ. The Carpers placed a similar bearish bet on the economy last year with the purchase of up to $110,000 in Ranger Equity Bear ETF.

The Ranger Equity Bear ETF is an actively managed fund that bets against U.S. stocks, while the ProShares Short QQQ is designed to produce the opposite return of the tech-heavy NASDAQ index. 

The trades suggest Carper, who once punched his former wife in the face hard enough to give her a black eye, holds a far more negative view of the economy than he publicly admits. On May 25, Carper said that "thanks to POTUS, our economy is resilient and growing stronger every day." Months earlier, on October 7, he attributed a "huge" increase in jobs to Biden’s "leadership." 

While job numbers have remained high, there are signs that economic trouble looms on the horizon. Credit rating agency Fitch downgraded the U.S. government’s credit rating on Tuesday, citing "fiscal deterioration" and "eroded confidence in fiscal management."

The downgrade was the second to ever happen in U.S. history, the prior being in 2011 on Barack Obama’s watch. 

The jobs numbers came in less than expected earlier today, with the economy adding 187,000 jobs in July, according to the labor department. 


Senator Tom Carper (D-DE) by Perisha Gates is licensed under flickr SDMC

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