In some ways you are right. I used this exact argument on my brother when he argued some sitting president was doing something and I argued it was the lag effect of the previous administration.

You are right, there is a lot of lag but there are many different influences, some lag but there are other ways effect is immediate. For example, Biden canceling Keystone had an immediate impact on jobs and on oil prices. It wasn’t the only thing influencing them but what influence it was, was immediate. Likewise Trump’s support for U.S. oil had an impact during his administration as did his tax cuts. Other things have a long term slow building effect, such as Medicare, a long term cause of massive healthcare cost increases. The economy is very complex.

My tax advisor has for several years lamented in a way that I will summarize from what a mentor often said "What the big print giveth, the small print taketh away."

With respect to the above, I do not accept the notion that we really see a needle move in certain markets based on a sitting President. I believe that these market indicators lag Executive action, possibly taking several years to materialize. I believe employment is one of them.

In school, I never heard of the Freedmans Bureau. I learned about it in my adulthood. Dr. Martin L King was assassinated shortly after he began talking about the economic policies that created poverty among Blacks and the false perversion of "pulling yourself up by your own bootstraps". Very interesting research for anyone who wants to understand the history of real estate disparity in this country. It was America's first handout or hand-up program (depending upon one's viewpoint). Although it was conceived as a means of providing a viable route to economic participation for newly emancipated American Blacks, it became useless when the policies were ,modified to only lend money and give land in the midwest to newly immigrated White settlers and the Bureau was eventually abolished in controversy. So forgive me for looking side-eye at nearly any White mid-westerner who claims hard-work alone got them where they are.

My mother's parents owned large tracts of farmland in the south (nearly the entire county), which over time became less attractive for farming because of economic (tax) policies and...guess what good ole Southern Jim Crow tradition (terrorism). I grew up hearing stories of family members being kidnapped to be bought back with land deeds. Today, I don't believe there are any farmers in my family, lured away by the idea of a "good education" and white-collar or government jobs. Most of my family are blue collar, with a few government/ white collars here-there. My mother is moving there because of her fond childhood memories, she purchased only 1/4 acre to build a house and it's a 20min drive to the family area. There is no more inheritance.

The hardest hit real estate market of 2008 was in Prince Georges County, Maryland followed by Dekalb County, Georgia. PG county overtook Dekalb as the wealthiest county in the nation for Blacks sometime in the early 2000s. That wealth was largely in Home equity. PG County has a large contingent of mid-upper level Federal government employees and retired military, it's very much a social circle. Recovery in PG has lagged behind the rest of the country, even today in 2021. There's a new lawsuit I read about last week that alleges systematic depression of home valuations in the county with one litigant bringing receipts for the building costs of their $1.6m home that only appraised for $1.2m (IIRC).

The nationwide crash was caused by subprime lending (that went to everyone), the lure of interest only loans, with a flippers market run amok. There was a whistleblower inside Wells Fargo that pointed out specifically they had software that targeted Black and Brown borrowers who were likely to default with the subprime lending a major part of it..in PG County. The Obama administration sold out Black America by not making those impacted  a required recipient of indemnification measures.

Chappelle said that he voted for Hillary "with a lump in his throat" (I believe is the exact words he used) and "it didn't feel as good as it should have", but also said that he understood that poor Whites didn't understand that Trump's economic policies benefitted him as a rich man, which he celebrated, to the detriment of those same poor Whites who voted for him.

Did Mao Tse Dung have any regard for human life on his corner of the planet?  Serious question.

I don't know enough about him, practically nothing really.

People are dying from the shots!!! I'm shocked!

Bio weapons have other functions than just killing.   

A bio weapon that sickens and disables an enemy is effective on lowering their ability on a battlefield.   And a bio weapon that sickens and introduces panic and fear into a population has enormous effects on global policies, economics and can effect political stabilities.  In addition, a virus potent enough to do a mass killing of a population cannot be isolated or controlled, and has a high potential of infecting the entity that launched the weapon.

People have been focusing on the Wuhan Virus "well, it can't be a viable bio weapon because it didn't cause mass casualties" while ignoring what the virus has actually done.

 China is in a much stronger position today geo politically than it's ever been, thanks in a large part of their virus.   We know that Fauci used taxpayer money to help fund GoF research in Wuhan in a lab used by the PLA to develop bio weapons.   We also have many papers written by the PLA and the CCP on how an effective virus release would help change and shape global policies and politics.

So you can produce a cogent thought! I guess you're good for something after all.