Biden's economy is very successful by the standards Obama set
Never say that Biden is incompetent. His goal is to bring the country down, and he is doing exactly what is necessary to succeed. Still, we can survive and fight back.
Remember when Obama said his policies would raise the cost of energy substantially and that this would be good for America? He said this in campaign speeches and was still elected. Biden has successfully followed through on these policies. One way to do this is to write down trillions of dollars of fossil fuels in the ground as stranded assets and kill all the traditional energy companies. Then there's printing money; flooding the market with cheap, illegal labor; using the vaccine to destroy the middle and working class, etc.
The millions of illegal aliens not only stress the labor market, school systems, and welfare, but are carrying diseases (not just COVID) that will stress our health system beyond its limit. The CDC's and public health system's silence is criminal. Couple this with their untenable positions on COVID, and the public will never again trust public health. What will happen when real public health threats arise in the future? In the same way, the media, by abandoning objective reporting, lost the trust of more than half the country. Whom can you trust to tell the truth?
Dollar Tree stores are now $1.25 stores. That doesn't sound like much, but lots of poor people shop there, and a 25% increase is a budget-buster. Steak is off the table. Lamb prices have risen even though lamb is not generally consumed in most of America. Seafood prices have jumped out of sight even though I live near the coast.
Ordinary people can take steps to offset Biden Inflation. In the last few weeks, I have cut about $600 a month from my recurring monthly expenditures. These included telecom, insurance, TV, and other unnecessary items. I am looking at another $400 reduction. Some of the cuts were pretty easy. Some will be more difficult, but it must be done. However, if I fish off the dock, the price goes way down. And deer is low-cost as well — listen to Hank Williams, Jr. "A Country Boy Can Survive." Where I live in the South, chicken is still cheap.
Fauci's pseudo-"omniscient" role helps kill the economy. He would say he is just the messenger. But what if he creates the message? I'm not sure who has ever held so much power in America, at least in the short run. (I hope it's the short run.)
On November 25, Fauci drove the price of oil down 13% with the simple announcement of yet another possible variant of COVID. It is not at all clear that such a variant, named omicron, exists or, if so, is a major health threat. But is it possible that his announcement was planned to offset Biden inflation by driving the economy down?
Lincoln and FDR exercised great power in transforming America. But has there ever been an unelected bureaucrat with that power? Fauci's goal, in league with the powers that be, appears to be an endless COVID scare that promotes government control of everyone. That's a disaster for America as a constitutional republic and a free-market economy, for it drives businesses to failure, along with killing free speech, movement, and association.
Still, there are things we can do to ride out this storm. I buy all my gasoline at Sam's or Costco. Still, given that it's about $1.30/gallon higher than a year ago, I don't drive as much, except when I find that driving is cheaper than flying. And when I drive, I don't have to wear a mask. It is amazing how many drivers wear masks even though no one else is in the car. Very effective brainwashing!
State attorneys general should sue whenever and wherever they can, especially regarding the border. Slowing the spread of cheap labor, drugs, human-trafficking, and disease can only benefit America.
Inflation is anywhere and everywhere a monetary phenomenon. We are awash in dollars from new D.C. spending, which is always represented as beneficial, although it rarely is.
Interest rate increases are coming. At a certain level of higher rates (historically, modestly higher), the Federal government's entire budget will be consumed by interest on the debt.
What will D.C.'s response be? I predict that it will print more money and try to borrow more. This is a losing game. Eventually, the economy will crash. The only way to stop it is to reduce government at all levels by an order of magnitude. Still, maybe a total crash is what is needed to reorganize America if Americans can be brought to understand that the blame rests entirely with Democrats and the permanent government class.
As for me, my big inflation hedge is my house. Should I sell, buy gold, and head for Hungary? Not just yet. America will survive.
Christopher Garbacz is a former economics professor.
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