Biden Promises More Money For Black, Brown Businesses; Says Americans “Entitled” To $15 Min Wage

Just in case you wondered why stocks suddenly jerked back higher (after tumbling on Manchin comments over stimulus checks… and impeachment uncertainty), it’s simple – President-Elect Biden just promised even moar…

Headlines from his speech (via Bloomberg) were nothing new of course, fitting with the Democratic campaign plans:

• *BIDEN: GAP IN BLACK, LATINO UNEMPLOYMENT IS `MUCH TOO LARGE’

• *BIDEN: NEED RELIEF FOR WORKING FAMILIES, BUSINESSES NOW

• *BIDEN: WILL LAY OUT FRAMEWORK FOR NEXT RELIEF PACKAGE NEXT WEEK

• *BIDEN: VACCINE DISTRIBUTION IS GREATEST OPERATIONAL CHALLENGE

• *BIDEN SAYS $600 RELIEF PAYMENTS AREN’T ENOUGH

• *BIDEN: HOPE DEMOCRATIC CONGRESS CONTROL LEADS TO MIN WAGE BOOST

• *BIDEN: AMERICANS ENTITLED TO $15/HOUR MINIMUM WAGE

President-elect Biden: “It’s time to raise the minimum wage so hard working people earn at least $15 dollars an hour minimum.” pic.twitter.com/RpaDzfPimj

— The Recount (@therecount) January 8, 2021

• *BIDEN: BLACK, BROWN-OWNED BUSINESS HAVE HAD LESS RELIEF ACCESS

• *BIDEN: TENS OF THOUSANDS OF COS. GOT RELIEF THEY SHOULDN’T HAVE

• *BIDEN: FOCUS TO BE ON SMALL BIZ WITHOUT CONNECTIONS

• *BIDEN: WILL DIRECT RELIEF TO THOSE INDUSTRIES HIT THE HARDEST

• *BIDEN: WILL HAVE NAVIGATORS TO HELP SMALL BIZ UNDERSTAND RELIEF

• *BIDEN: WILL MAKE BANK EXPECTATIONS `CRYSTAL CLEAR’

The reaction – of course – was buying panic!

Because, fundamentals!