Anyone who reads this column knows I am no fan of President Joe Biden. His verbal miscues and other cognitive issues aside, I have looked the other way.
But when his absent-minded policies take almost 3,000 points off the Dow Jones index, now you have my attention.
I have written about the trillions of dollars he has spent on programs that will never come to fruition for homelessness or reducing gun violence. But what that does is create huge disparities in the economy.
Case in point, Biden will announce Friday that he is providing $10 billion in additional funding for cities to hire more police. This is the same guy who back progressive Democrats last year in defunding the police. Oh, but there is an election in November, so now he will throw money that way to say he and his fellow Dems are tough on crime.
Every billion the Dems spend, means our $10 will buy less. It’s a formula that many economist know very well, it’s called hyper-inflation. Too much money chasing too few products.
Another case in point, new mothers cannot get baby formula for their newborns. We are allegedly the richest country on Earth and yet we can’t feed our babies due to federal policies? How is that even allowed?
Joe Biden’s America in 2022 is head over heels to give those with less more, while taking it from the middle class. This is a secretive class warfare economy and now the stock market is reflecting it.
Wall Street has known for the last two years that they have been whistling past the graveyard, knowing that this day would come. Biden throws billions at unproductive segments of the society and expects a different outcome.
However, what that results in is devastating to the middle class, who have to fund his largess.
It’s still a long way to November, but Republicans need to delay anymore spending plans by the Democrats, if they want to have a country worth governing in 2024.
Because global investors are tired of the Democrats policies of spending a trillion here and a trillion there. If you don’t believe me look at your portfolio or 401(k) statement.
The new meme for 2022 is with Biden’s photo pointing to a stock chart saying, “I did that.”