On economic matters, no one really knows what is about to happen, with one possible exception. It is demonstrably certain inflation into 2022 will continue increasing. Beyond that, after pumping $9+ trillion into the U.S. economic system under the guise of COVID relief, we are entering some very uncharted waters.
On a macro level, CTH has an idea what is likely to take place in the next three years; however, before getting to that, allow me to present evidence for the underlying supposition. As you can see from this Biden message, shaped entirely by politics, on an economic basis the people around him have no idea what the downstream consequences of 2020 and 2021 will present in 2022:
The team behind Joe Biden brag about the U.S. economy being the only economy to continue growing during the COVID-19 pandemic period. Their top line reference point is the Gross Domestic Product, or GDP. Their brag is the U.S. GDP did not shrink during 2021 and the COVID pandemic.
However, what they omit (for political reasons) is that massive U.S. spending and bailouts covered the GDP hole. More than $9 trillion was injected for stimulus payments, blue state bailouts, payroll protection programs, rent moratoriums, school subsidies, medical payments to hospitals, student loan payment pauses, vaccination purchases, covid sick pay and years of continually extended and enhanced unemployment benefits.
They also omit that none of this domestic spending would be possible if the global trade currency did not take place in dollars. Our value is propped up by the fact that almost all trade takes place in U.S. currency. If that system was not in place, congress could not spend this much money without collapsing the U.S. into a devaluation position resembling what happened previously in Greece.
The only way for Biden to avoid the direct economic consequence of this massive injection of $9+ trillion, which has created the illusion of a strong GDP by subsidizing consumer spending, is to keep injecting more money to keep the artificial GDP inflated.
Biden really needs congress to keep spending. However, it now looks like congress does not have an appetite to do this….. so, the consequences are coming.
The prior spending covered a hole created by a drop in total economic activity. Outputs dropped, payrolls dropped, consumer spending would have dropped, etc. In essence, the void in economic activity was subsidized on a massive scale by government.
The U.S. economy was essentially a $20 trillion GDP going into the pandemic period. Think of the GDP as total value. We do not know what the total contraction on the economy was due to the first subsidy; but we do know the aggregate response over the past two years has been to subsidize -or cover- the contraction with a $9 trillion blanket.
That $9 trillion in artificial GDP value is the most direct cause of inflation. There are other aspects related to energy policy making products more expensive (energy, gas, fuel, transportation, heating, cooling, etc), but the $9 trillion artificial spend is the largest factor of current inflation.
These two figures will become important moving forward. A $20 trillion natural economy, and $9 trillion in unnatural spending to maintain it.
In our economic studies, CTH has assembled a reference library from which we can draw guidance. The 2008 and 2009 bailout phase [TARP, auto-bailouts, American Recovery and Reinvestment Act (ARRA), QE1 and QE2 as well as the porkulous bill] provide some reference points for long term outlooks.
There is a general investing guideline consisting of a factor of seven. Seven years to double money, seven years to recover investment, seven years of depreciation etc. The number seven shows up in multiple macro-economic reference points. Seven is also represented by an approximate of 13%.
Spending at the level of 25% of our GDP (over two years) creates an inflationary pressure point of a similar size. Two years at 13% is 26% inflation. In real terms, that’s roughly where we are right now – we are somewhere in the 25% range in higher prices on goods overall. That aligns with the spending subsidy inside the U.S. economy.
If my review of the ’08/’09 spending impact is accurate as an overlay, it means our natural economic cycle will take roughly four years to make parity between real wage incomes and the inflation rate. It will take us four years to grow wages enough to cover for all this spending. Meaning, in four years the level of overall wages will be enough to finally catch the inflation currently recorded in the price of goods.
However, the problem arises in the near future. Without that $9 trillion spent, our GDP would have contracted. We now need to work through the value of that contraction in the economy. We need wages to rise to compensate for inflation; but unfortunately, we are about to enter a phase where employment is likely to contract.
Two-thirds of the U.S. GDP is created by consumer spending. Inflation, created by prior spending, is chewing up current wages and incomes. As a consequence, disposable income is wiped out. Consumer spending on non-essential products and services (luxury stuff) is essentially gone. That reality is going to lead to a natural drop in employment as non-essential goods and services are no longer in demand.
We covered the prior point where the drop in demand for less essential products would have happened with government spending. That subsidy is now drying up, and the hole we avoided is now in front of us. All of the people who work in the economic process of providing ‘less-essential‘ goods and services will now likely see lay-offs.
This could potentially set us on a collision course. If the employment condition worsens, there will be no need for upward pressure on wages. At the same time, wage pressure decreases the inflation pressure remains high. This dynamic means it takes even longer than four years to cover the hole of the previous spending.
We have talked about the predictable consequences of this dynamic for approximately eight months. Some of the data is now beginning to surface to support exactly what we were discussing last year. All of the artificial spending is drying up, and now the inflationary bills (chickens) are coming home to roost.
Each spike on the WolfStreet graphic below is government COVID spending. Massive influxes of artificial payments into the economy. The first spike is the Paycheck Protection Plan and initial economic bailout. The second spike was the second covid relief bill, and the third spike (the tallest) was the soon followed even larger covid relief bill.
The WolfStreet analysis shows how inflation is much higher than wage growth {DATA HERE}. Those spikes represent approximately $4.5 trillion in spending – subsidy infusions into the U.S. employer and employee workforce.
Inflation will continue chewing up wages through next year. However, it can readily be expected that total employment will start getting a lot more tenuous as consumers/workers hunker down and prioritize spending on higher priced housing, food, energy and fuel.
What will the Fed do with the $9 Trillion in U.S. debt on the balance sheet? Sit on it? The very first thing Joe needs to do is turn the oil spigot back on. That will ease energy prices. But he won’t, and we’re screwed.
Oh, and I just noticed. There is no more 2 day delivery from Amazon. It is now 5 days or more, which I assume is so the company can fill their trucks to the limit as a cost savings. Of course I could be wrong, but that makes sense.
We Americans can be prepared by learning from Venezuela.
Know where the best dumpsters are located and get there early in the morning for breakfast before the horde arrives.
Cincinnati zoo has a lot of protean on the hoof.
Lol
The coming food shortage is no laughing matter, FOF. People will riot in supermarket parking lots as shelves empty and some may die. There are no more police in blue states who are in a position to arrest violators as their authority continues to be taken away.
Chaos and food riots will ensue with many citizens dying.
These deaths can all be laid at the feet of democrats.
Nothing will stick to the feet of democrats. Dead bodies are somehow repelled from the feet of democrats.
Makes seeing this coming, buying some hunting land, putting in a greenhouse, victory garden and unloading my city property knowing me & my neighbors will be just fine a good thing.
Buying hunting land is a good idea as long as you can protect it. During SHTF events starving people will not be very respectful of boundaries. With respect to your other plans (greenhouse, victory garden, etc.) hopefully you have some experience in growing food. If not, then really work hard right now on acquiring it and the knowledge that goes with it, because the internet will most likely not be available to “Google” later…. By the way, be sure to develop strong relationships with your surrounding neighbors (not your city ones, but your country ones), and that too takes considerable amount of time, patience and good character to accomplish.
Venezuelans that make it to Oregon can eat from dumpsters morning, noon, and night in solidarity with their faceless revolutionary brothers and sisters from Nike.
*raises clenched fist*
“Just Chew It!” – Jussie ‘Bubba’ Kapernick
It was impossible for the GDP to shrink in 2021 compared to 2020. Oh but it shall in 2022 and two consecutive quarters equal recession. Not sure when an actual depression occurs or what defines it. After 40+ years I don’t think I have lived thru one. First time for everything I reckon.
Wise man.
Without devaluing the importance of this unchartered territory our betters have led us into….if the economy spirals too far out of control I believe the Democrat brand will be irreparably harmed for a long time and then it’s up to us to get as many MAGA candidates into offices across the board local state and federal. We have a chance to start our own great reset for MAGA if we re smart.
Their brand has always been tainted. The only people who ever bought into the Democrats for the long run, are the Nihilists, and Sociopaths. The first group love the idea of disasters, saving the whale and hugging trees. The second don’t give a damn. They have more money than Trump!
Biden will get the blame, but this insanity of printing trillions of dollars and then giving it away to people and companies for not working started under Trump.
Everyone with half a brain saw this coming from the first COVID stimulus.
Just remember, it was done with a Democrat House and a Democrat Senate leader and his henchmen. We can’t let St. Anthony of Wuhan off the hook. His antics and “scientific” guidance caused mass hysteria amongst many citizens and led people to live in fear inside their houses so the need for “income” was demanded in exchange for votes. Fauci and Birx spread fear like farmers spread fertilizer and then did everything that they warned others to not do. Once again, these Democrats followed the Rules for thee but not for me mantra.
Absolutely
Wrong. Look no further than Obama. And if you will. Take a bigger look at Clinton’s economy. Propaganda at its best.
Started under Trump ?!? It started under FDR.
Like any creature that can be “conditioned” those with the power to in the past started supplying the ignorant with free food, shelter, clothing and brainwashing. In turn, those lemmings followed their pied piper right off the cliff.
The biggest evil on this planet is ignorance – try to avoid it and those that peddle the same.
Frank,
Let me sharpen your definition of “the biggest evil on this planet.” It is ignorance, but a specific segment of ignorance is exponentially worse for society. That specific segment is the one held by all those people who think they can get “something for nothing.” There is even a worse subgrouping of those people, the ones who think they are ENTITLED to “something for nothing.”
The siren song of being able to get something for nothing is the most successful temptation Satan ever produced, and its poisons continue to be passed from generation to generation. It has almost destroyed this country. If, through what will take a full-fledged miracle, we as a nation do not completely succumb to this poison, it will be because we rediscovered the courage to take the draconian measures necessary to harshly curb those who preach this evil.
If you want a clear view of where we’re going, read Kipling’s short story, “The Mother Hive.” He lays it out there in such a way that the parallels to our society today are absolutely unmistakable.
Does America need greatness or does it need responsible individuals, both citizens and politicians?
Only a virtuous people are capable of freedom. As nations become corrupt, they have more need of masters…Benjamin Franklin
We are here.
It was already rejected with ozero. That is why the perfected cheat was performed.
You already know how this plays out. Biden and his regime will take the fall for the disastrous economics foisted on America. The Democrats likely get smoked in the 2022 election, losing both the House and Senate. All that does is hand control back to the RINO Senate leadership.
Then a younger Democrat like Gavin Newsome comes along in 2024 or 2028 promising the same old things under a new brand, backed by the entire media and Establishment.
They don’t want Trump back in the White House but they may be prepared to suffer through four more years in hopes of tamping down the blowback. We all know now the office of the presidency is irrelevant when every other organ of the Swamp is controlled by the Deep State.
The major legislative actions of the next decade will all be accomplished through the Supreme Court. And yes, I am quite aware of how that sounds…
People are going to lose their homes all over again!
I have seen the “lose their homes” occur several times. I don’t think it is in the cards it won’t happen again rather soon. However, it depends if the Communist/Fascist/Totalitarians remain in Power and Control or MAGA takes the Country back.
yea, a bank and what army is going to come and get those homes.
renters renting may get screwed.
In this next waves, the corporations, not the banks will buy up the bad debt. You will either pay exorbitant rent for your property on have a private army remove you.
Hmm-weren’t you the one who said there wouldn’t be food shortages too?
I stick by the no food shortage at least from the production end. However, logistics could create a food shortage.
People are already losing their homes, what are you smoking?
No one is losing their home in the glass bubble region I live in.
Food shortages are when food is not available for whatever reason
Tell that to the folk who lose their jobs and can’t pay the mortgage because gas and food comes first!
Prepare dear friends, all the corruption will be revealed.
This economic catastrophe is done by design. They re trying to collapse the economy so they can usher in the new system.
Build back better, with I’d passport (jab papers), CBDCs and ubi.
…remember you’ll own nothing and will be happy.
just don’t ask silly questions as in…
who is going to own everything?
What Klaus of WEF meant was he and his cronies would own everything and you’d be happy.
Turn the whole world in motel units, and tease the good life with doubleplusgood social credit scores. Get those points people, go for it, you too can live like your heroes. A Fed election is due next year – vote WEF associates in for triple civic points!
[Does a vaxx passport zombie- compliant citizen get automatic registration and default DNC affiliation? Is it a backdoor Voter ID? Because it would all be worth it just for that irony alone.]
They are destroying the middle class and our economic system so voters will come begging for the elites’ proffered solutions.
Looks to me like many CIA operations in the Third World. Make life miserable enough and the people themselves rebel against the current order.
A close relative was/is a genius in business! After several trips during high school (in the late 1990’s) to visit a wealthy friend in Mexico, he announced that the Middle Class in the United States was going to disappear, just as it had already done in Mexico. Talk about prescient!
Wow, who woulda thunk printing money like Weimar Germany would lead to inflation like Weimar Germany?
When Joe Stalin talks about we’re, he means WE as in the Govt’ LMAO…. they should have Record breaking tax revenues they have stolen from us with this Record HIGH RAPID INFLATION. So in a sense Mr. Stalin is correct.
This is the Strongest tax revenue ever….. they have been taking out of our pockets and placing into theirs.
We have been living high on the hog for more than 10 years. A recession happens every 8-10 years and we have kept inflation away for a long long time.
Wait . . . Whaaaa?! Were you living under a rock during the Ovomit (stolen presidency) years?
A grocery stock up, always the same items in the same quantity, that normally cost me $60: Cost me almost $90 today, taxes included.
My groceries have doubled in price since January, still buying the same stuff.
Same here! Sundance should start a section each weekend titled ‘The Victory Store’. Many folks need hints a tips for saving money, food storage etc and best places to shop right now for bargains!
Don’t neglect the downward-pressure exerted on wages by adding 1 to 2 million ILLEGAL ALIENS per year (and the fact that their women squeeze out 2 to 4 children who are “Americans” by virtue of birth alone), and the MILLIONS of “spouses” and “children” of H1, H2, and H3 visa holders who are eligible to work on automatic and complimentary H-4 visas.
Things are going to get worse, before they get worse.
Prepare accordingly.
By this time next year there will be a dramatic better.
I wish that were the case.
Even if both houses of Congress are taken, Biden will veto all legislation his handlers don’t like, and will rule by executive orders, and the media will back him allllll the way.
But then he can be impeached.
Then Kamala if need be- and so on.
Not with the current crop of GOP fake conservatives. There will be nothing but self-serving deals going on while the GOP pays no attention to those that voted them in.
Dawg! What you smokin’ there, dawg? You musta got holda some a the GOOOOOOOOD STUFF!
Maybe it’s time to repeal the 14th amendment or at least modify it to where the parents must both be American citizens for the child to be granted citizenship upon birth. The intent when passed was good but was based on people brought here against their will, not those who intentionally and illegally break our laws in order to enter when the entry process is fairly simple.
You forgot their foreign grandparents, they get to collect social security.
Eyeballing the graph, I would say it’s much higher than that.
The first spike is about $6,000 PER CAPITA in 2012 dollars So.300 million people by $6000 per person is $1.8 TRILLION. That’s just the first spike.
The 2nd spike is a little smaller, about $1.5 Trillion, but the 3rd is huge at about $3.3 Trillion for a total of about $6.6 Trillion IN 2012 DOLLARS
When the Govt’ is paying people $50,000 a year to be on unemployment, plus upwards of $1,000 a month for the new child tax credits for typical family with 3-4 kids, what do they expect? I wish I could get a free ride like most of these people. I keep wondering how lucky they must feel. All that free money, while people like me get taxed to death to pay for it. I keep downgrading my life, while they keep living high on the hog. This democrat socialism sucks the worst kind of suck. I’m tired of these people dragging me down while I had worked so hard to be an over achiever. I’m done doing that…. (working hard) it’s not worth it, this modern USA fantasy of working harder to get ahead is a false lie with these Insane Democrats running the asylum with their Socialist Communist Agendas. Our ancestors would not tolerate these Criminals…. nor would they tolerate them slandering our Past President on a daily basis.
$50,000!!!! Can I have the links for that, please?
With the initial extra $600 weekly, CA was paying folks $1050 a week on unemployment
When all else fails, they’ll take us to war.
These bastards aren’t taking us anywhere.
The way I see it we are already in a war with China. It’s just that most people don’t realize it yet.
Anyone who is not a “Doomsday Prepper” at the moment is blind to what is coming.
And to think a few years ago they laughed and thought we wore tin foil hats!
I KNOW!! I know what is about to happen! And I don’t want you to buy my new book to find out! After 40 years of determined eating away at the integrity of the dollar, and at a breakneck pace since September 16, 2019, the Fed-Government (yes they ARE and always have been one thing–who are they kidding?) has succeeded. The Everything Bubble is going to burst, like RIGHT NOW. At what point does your car stop rolling and start falling off the cliff? The answer at this point is purely academic. Buckle up, Pancho.
That quote that is supposed to be from Biden shows a level of delusion that is impossible to fathom. One could say he is lying but with his brain not functioning, and half the population being brain damaged by masks, well, I don’t have a very positive outlook for the people who want freedom.
One thing the “Doom and Gloom” can be thankful in regard to Joe Biden. Joe Biden provides no shortage of “Doom and Gloom” for which to doom and gloom about.
He can’t tell the truth
Math needs some work-and it makes things worse if you do it right.
First, the magic number is not 7. It’s the natural logarithm of 2, which is about 0.6931….. If you divide ln(2) by growth rate, you get doubling time. Say inflation is 13%—
ln(2)/0.13 = 5.33…..
Thats five years and four moths, not seven years.
Ln(2)/(average growth of stock market) is very close to seven, and that’s where seven comes from.)
Two consecutive years of 13% inflation is nearly 28% inflation. It’s not addition, it’s multiplication.
1.13 x 1.13= 1.2769
HTH.
“strongest first-year economic track record of any president in 50 years”
He’s right on one thing. The strong stench of his first year economic record pervades the entire continent with the potential threat of enveloping the entire globe given another year of control. There will be no worry of global warming since there will be few alive to do the “scientific” measurements needed to sound the alarms. Just remember that the planet was supposed to have been completely destroyed two years ago. Now it’s another 15. I suppose by then it will be another 10 as mention of the whole thing wanes. By then, we’ll all be speaking Mandarin so there will be very little research into what the climate alarmists were saying anyway. The CCP will simply eliminate all mention of it and execute anyone who does!
I don’t know how this factors in: A LOT of people have been stocking up like crazy because they see the handwriting on the wall. Once they decide to stop spending and hunker down, there will be a huge drop in consumer spending.
The bad news, these idiots probably believe their own hype, the good news the gas pump defies their hype, even leftist dullards get this.
“…Biden really needs congress to keep spending. However, it now looks like congress does not have an appetite to do this…”
Congress has no appetite to spend money?
Oh, Sundance, and I have admired you for so long
LOL!
Temporary loss of appetite – must have been something they were forced to eat.
Agreed, Congressional leadership, there’s none.
They’re all greedy, selfish, pedantic children.
I’ll suffer for my neglect along with everyone.
And do so gladly as long as those who engineered this current catastrophe suffer accordingly.
On the positive side: many analysts suggest these negatives are short-term and that we are on the cusp of one of those long-term “Schumpeter” (my favorite economist) gales of economic destruction. AI, automation, 3d printing, new energy technologies, new drugs, and other game-breakers are around the corner. McDonald’s for example, is going to automate much of its labor dependent services. Due to the interleaving of the supply chain, these changes are projected to filter through the economy leading to factor substitution (i.e., labor) as well as productivity gains. In my own mind, there is tech change and then there is the transition to industrialization of new technology at scale. The latter does not happen in the space of months as innovation, legal adjustments, societal changes, etc., are less elastic – change takes time.
It’s clear BBB, aside from redistribution and hidden regulatory objectives, was intended to sustain asset bubbles. That’s what they’re really freaking out over IMO.
Most financial/economic pundits I follow “argue” that 2022 will be very volatile with slower growth. IMO, never underestimate the capacity of gov’t and central banks to make bad decisions that are poorly timed. Throw in a Nov election with major ramifications (i.e., potential for further polarization and billionaire sponsored violence) and a black swan event such as a Ukraine or Taiwan war and 2022 prognostications are not uplifting.
The use of GDP to measure economic growth is a feature not a bug in the system. As ‘normal’ price increases due inflation of the ‘debt money’ are added right into the economy. Now that we are in an inflationary spiral, those price increases are adding directly to the total GDP.
The only way to tell the growth of the real economy is to subtract the effects of hyperinflation or compare the total of unit products sold and goods consumed.
It doesn’t look good for the total number/amount of goods purchased going down while the .gov claims the economy is growing. All that is happening here is people are paying more for less units of consumer goods and substituting lower price food choices to keep the family fed. When you do the math we are buying less product for more debt currency so the GDP looks positive.
The same thing happens in the stock market and housing economy. The pundits tell you that your portfolio is ‘worth’ more and your home is ‘worth’ more but what is really happening is our ‘money’ is ‘worthless’
“On economic matters, no one really knows what is about to happen”
But two things are absolutely certain – it won’t be good and it will be historic. Some outdated graphs to illustrate:
Historian and professional investor Alasdair Nairn predicted both the dotcom and subprime collapses, and in this compelling new book shares the evidence that we are living through such a period of deadly excess right now.
The End of the Everything Bubble: Why $75 Trillion of Investor Wealth Is in Mortal Jeopardy – October 26, 2021
BTW, it’s not “just” investor wealth that’s in jeopardy.
I still Trust the plan. Ha. Trudeau will save me. He is the Most Smartest Guy. Trust the Plan and President Trump will save you. Just wait. And wait. And wait.
If you’re looking for anyone on Earth to save you, you’re looking in the wrong place.
Excellent post, Sundance.
just think of the money they could have saved if they hadn’t purchased all those ridiculous poison experimental jabs.
Pfizer had to be paid off for their role in this debacle. Nothing more, nothing less. If you think of the Left as the world’s largest criminal syndicate, the one thing they do well is pay off their lackies and cronies.
When Ozero took office my phone lines went quiet almost the day he was inaugurated. It took a year before a trickle of had to be serviced business kept me just alive. This fake potus has been different. Business has still been good. It is still too early to say as good as the President Trump years but we all know this will not last. One day the children who spend and divide our money will need to make a correction and then the bottom will drop out. I won’t fight like crazy to keep it alive this time. The government will be all I am working for if they get their way. I’ll play illegal or homeless and make more money. Sad to think our politicians allowed election fraud, blatant fraud to ruin our country for their greed.
Well, what happens if China’s economic house of cards come tumbling down, starting with a full default by Evergrande? Other analysts are remarking about all of the bad debt that the CCP is covering up, and if their economy starts tanking, we could either enter a global depression or the CCP may lash out and try to take Taiwan, precipitating another global conflict (which would also divert the general population’s attention from the economic troubles).
Like many, I’m trying to glean the thinking of the Central Bankers. There are swaps set up amongst those central banks who bankroll the eurodollar market. The major trading currencies seem to be ring-fenced to provide mutual protection should there be a run on the eurodollar system.
I suggest you read the October 29, 2008 FOMC minutes to get a feel for the “real-time” thinking around that financial system collapse.
https://www.federalreserve.gov/monetarypolicy/files/FOMC20081029meeting.pdf
You will note discussions of perceived problems and recommended solutions. The structure/conditions of the Central Bank Swaps shows responses to risk thresholds that we should be aware of in today’s marketplace.
I’m keeping an eye on Argentina and Turkey as I see these as “canaries in the coal mine”. I do not expect anyone will come to their aid as their situations are the result of their making. Basically… You made your bed, now lie in it. I’m interested in how they attempt to fix their recurring problems, and what the world will do about it.
We have the history of the 2012 European Financial Crisis to provide some guidance. They leaned heavily against the central bank “ring-fencing” and it basically held. I suspect in today’s marketplace central banking decisions will be made to “guide” the eurodollar market to moderation… when dealing with Turkey, Argentina, spillover from China, and whatever other financial pressure will hit.
Interpreting the 2008 FOMC minutes leads one to believe the world has given the US a veto on global fiscal stupidity. Let’s see if politics will interfere with the “ring-fencing” currently in place.
In the near term expect heavy pressure in the Senate to pass Bankrupt Better Plan to see the current crop of politicians through the mid-terms. After that, expect a whole lot of retirements and elected officials pining to spend more time with their families while the set the republicans up to take the fall for the coming years of stagflation.
It wasn’t that long ago that Jack Dorsey tweeted one word – ‘hyperinflation’. A month later, Dorsey was squeezed out of his own company and forced to vacate Twitter…
All economic bubbles POP.
The crash of the Stock Market Bubble will dwarf
the collapse of the 2008 Housing Bubble.
FJB is being successful in BANKRUPTING everyone below elite status. Inflation is the SILENT KILLER of family economics. FJB is EVIL and a CRIMINAL!
It seems to me likely that employment will continue to fall, and wages with it. Several inputs may result in these consequences. First, a flood of unskilled labor that often comes en masse, bringing with them an immoral lifestyle. An example of this is Somalians in Minnesota. They come as a group, hunker down together and refuse to assimilate. From the homeland they bring skills in larceny, human trafficking, arms, and drugs. They have contempt for the U.S. as an infidel nation. They feel a positive urge to defraud and victimize their neighbors, and find the law abiding American easy pickings. Democratic politicians encourage their antisocial behavior because they believe it supports their socialistic goals and their insane multicultural conceits.
Next, Biden reversed Trump’s essential efforts to generate productive labor in America. This he did by cultivating energy production, reducing immigration, and decoupling us from dependence on Chinese manufacturing. He also made agreements such as the one with Canada and Mexico that reduced costs in cooperation with these closer neighbors. One way to reduce inflation from TARP and Obama’s payoffs to Blue constituencies, was to increase real value in the country. We saw this occur in diminishing energy costs everywhere. That lubricates production and creates wealth. As I said, Biden has damages these in favor of the cartelism of his handlers.
Biden’s foreign policy is absolutely life threatening. Rather than draw in our horns as with Trump, and rebuild our economic influence, he is advertising weakness and unreliability everywhere. Our allies have deserted us and are making new deals with our enemies. Many of these include coordinated economic warfare against the U.S. causing further economic harm. Our Ivy League imbeciles cannot even countenance this concept and will be totally defenseless against it. Instead they will sell our national and economic security for their own pottage. These idiots view the world through the toy lenses of climate change and equity. Heaven help us if the new model military is called upon to defend the nation. Were I China, with all of their economic woes, aggression is nearly inevitable.
We are fully aware of what the economy is going to do , IT IS GOING TO INTENTIONALLY COLLAPSE. The designers are creating the problem that they feel they have the answer for. Destroy our economy, collapse the dollar, crash the stock market, and then they expect the people to be begging for governments help. Somehow we need to grab the bull by the balls and give it a good twist to reciprocate the pain and anxiety that the “Destroy our Nation Administration” is pushing upon us.
This is no accident. Record quantities of drugs entering the U.S. via Mexico, all by design, record drug related deaths, all by design, no southern border, a violation of the constitution, by design.
We can not allow 10 more months of this to continue as it places us in a situation we may not be able to recover from.
Lezgo Brandon has a fresh economics guru. Rose E Snario PhD.
The price of crude will boost all consumer prices and cut consumption of goods.
Strongest economy in 50 years? ROTFLMFAO!!!!
When speaking on the US economy it’s pretty safe to say that it doesn’t matter who or what is transpiring because our unavoidable outcome is… We’re eventually going to crash and nothing you do can change that.
Everything in between is either speeding up or slowing down the train… But the missing tracks ahead can no longer be replaced.
Like many things we fail to recognize or understand then when they matter and just pretend not to know for decades.
Good analysis particularly on the comparison of labor and govt spending. Sundance is spot on here. In fact, several analysts I’ve read on the subject are projecting 18 years to catch up. And even that period of time is tenuous because out of control inflation would throw all those projections out the window. There’s no getting around it, we’re in for some really tough times ahead. And, those who have chosen to invest in real assets that support their survival will fare much better than those impoverished souls who spend their entire day’s energies looking for the daily handout.
Anyone who doesn’t know what’s gonna be the result of this massive government spending hasn’t been paying attention when it’s happened in the past.
Wow. Congratulations for doing such a great job Xiden.