I left a good bit of these as a comment on a Louis Rossmann video, and then decided not to let a good rant go to waste. The topic was whether inflation would continue to rise, and whether the economy would get better or not and why.
The economy won’t get better in the near term because the people at the top of the Biden Administration don’t seem care if the economy gets better.
Inflation is running at the fastest pace on record, and Biden Administration cronies are busy trying to gaslight the American people by claiming it doesn’t exist or is “transitory” or not that bad for poor people.
The thing the Biden Administration is most concerned with is Social Justice garbage that the rest of America is actively hostile to.
$5 a gallon gas? They don’t care. If they cared, they wouldn’t have killed Keystone. They want oil prices high so they can force conversion to the Green New Deal schemes that they seem to have numerous investments in (see, for example, John Kerry’s investment in Hillhouse China Value Fund).
Milk increase by 40% or 50%? They don’t care. Few of them have children, and an additional $20, $50, or $100 a week for basic necessities has no effect on their lifestyle.
The thing the Biden Administration seems to deeply care about is graft, fraud, social justice, transexualism, pronouns, and protecting the inroads Critical Race Theory has made into America’s educational system. Victimhood Identity Politics, AKA wokeism, AKA Critical Race Theory, AKA “Sex as Social Construct” are all part and parcel of the “Successor Ideology” that is the new religion of America’s leftwing elites. They regard fighting American parents who oppose CRT as much bigger political priority than opposing Communist China.
That, and letting in millions of illegal aliens to provide new Democratic Party voters via amnesty down the line, and imposing vaccine mandates on an already reeling economy.
Trump wasn’t perfect. He didn’t restrain government spending and took too long to wake up to the threats posed by CRT etc. to the republic. But he did care deeply about America having robust and growing economy with low unemployment, and set about implementing polices (selective deregulation, renegotiating trade agreements, controlling illegal immigration to increase American wages) to help grow the economy, despite being hampered by getting “jammed at the line” by the Russiagate hoax.
His successors in the White House seem to want to undo every Trump policy that helped grow the economy simply because they were Trump policies. They’ve made everything worse.
Yes, oil prices were always going to rebound from the 2020’s misguided lockdowns. But the Democratic Party’s active hostile to American oil production (cancelling Keystone, forbidding drilling) has made things worse.
Yes, the Fed printing money is a huge problem. But it’s a much bigger problem now that Democrats have weakened the country by undoing Trump reforms and we’re no longer importing deflation from China. We should audit the Fed (at the very least). But clearly that will not be done under the current Administration.
How do we get out of the current jam? We could balance the budget, stop spending money we don’t have, and audit spending programs to see exactly where that money went. (Remember how Bill De Blasio’ wife just happened to “lose” $850 million of taxpayer money?) None of that is going to happen under a Biden Administration.
And the inflation is not just a Fed problem, it’s a global problem, with just about every Western nation running budget deficits and encouraging “quantitative easing” by their respective central banking authorities.
This is turning into a long rant with many topics that require a great deal of explanation and research to unpack. But the upshot is that one big reason that our economy is lousy is that current Administration doesn’t care that our economy is lousy, because they’re focused on other goals (mostly antithetical to the interests of average working Americans), and because actually fixing the economy offers them no opportunities to get their beaks wet.
And they won’t address the real causes of of current supply chain issues (union featherbedding rules at California ports) because that would mean forcing some Democrats to stop getting their beaks wet.
And we can’t have that.
Trump was not perfect, and criticize his flaws all you want. But I think I speak for most Americans when I say that I would gladly put up with an endless stream of mean tweets if it means we could have the late 2019 Trump economy back.
