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Is the Biden regime incompetent? That seems to be the general consensus from conservative journalists and alternative news media in reference to their handling of the economy. Things have become so horrible that their various machinations demonstrate gross incompetence.
This is a false notion. To paraphrase Marco Rubio from the 2016 GOP primaries, “Let’s dispel once and for all with this fiction that the Biden regime doesn’t know what they’re doing. They know exactly what they’re doing.”
The destruction of the U.S. economy and of western economies, in general, is a prerequisite for The Great Reset. You can’t “build back better” until you have something so demolished that it needs to be built back. As bad as things are now, they’re not nearly as bad as they could be, and they’re going to get worse. The Biden regime will make sure of that.
Far too many people are pointing to the midterm elections as the way to stop this, but I’m not sure we can wait that long. Besides, unless we get veto-proof majorities in the House and Senate, the best we can hope to do is slow the regime down. Republicans will not be able to stop the Democrats’ destructive policies from manifesting as executive orders, either.
As conservatives, we should be taking control of our own financial destinies as much as we can. Many have grown too dependent on the state of the national economy or the benefits bequeathed to us by government. Self-governance is as patriotic and conservative as it gets, and we need to apply those principles to our current financial situations. This is why I regularly tell people to get off the grid if they can or at least minimize their dependence to government-operated resources. I tell them to protect their wealth by shifting investments to precious metals. I even tell them to start their own gardens and do what they can to take control of their family’s food security.
On today’s episode of The JD Rucker Political Report on America Out Loud Talk Radio, I covered why I believe the article below misses the mark. The facts and conclusions are generally correct, but Stephen Moore at The Epoch Times fails to understand that things are going exactly as planned.
In the second segment, I covered ways people can start prepping on a budget. In the third segment, I covered the continued rise of medical tyranny despite so many believing the battle is over.
Here’s The Epoch Times, reprinted with permission:
The Economy Is Teetering and Joe Biden Is the Man Without a Plan
Even with last week’s recovery in the stock market, the losses to U.S. investors and families over the past several months have eclipsed $5 trillion. To make matters worse, nearly another $1 trillion in U.S. wealth in cryptocurrency was wiped out during the mega-selloff in May, as investors rushed for safety.
This is ripping into the savings of American families and their retirement accounts with the value of nest eggs being diminished. So much for buying that second home in Florida.
Business Insider calculates that Americans have lost another $3.7 trillion in earnings during the pandemic over the past two years.
This is an economic siren blaring, because as wealth disappears, many other building blocks of the economy are put at risk.
The ability to borrow and spend out of savings is reduced by the loss of household wealth. Consumer spending and the housing industry are already signs of slowing, and the dip is likely to get worse in the months ahead. Major retailers such as Walmart and Target are reporting that the consumer spree may be hitting the wall.
The Federal Reserve’s higher interest rates—which are necessary to combat Bidenflation—only compound the problems.
Second, home mortgage lending costs are up 57 percent this year with mortgage rates blowing up to 5.5 percent from 3.5 percent this year, which drastically diminishes the purchasing power of potential home buyers.
The same can be said about the ability to take a vacation, send children to a private school, or pay pricey college tuitions.
Meanwhile, credit card holders are paying at least 2 percent more for debt. The average debt of a U.S. family is $6,270.
Don’t be surprised if we see more student loan defaults with higher interest rates. The average student has $25,000 to $50,000 in debt, with $1.7 trillion in debt nationwide. And, no, the answer isn’t to shift these costs to taxpayers when we already have $30 trillion in national debt.
Don’t expect relief anytime soon at the gas pump. Energy costs are already up more than 70 percent this year, and over the Memorial Day weekend, gas prices hit $6 a gallon in many markets.
That makes us skeptical that we’ve turned the corner on inflation, because higher energy prices ricochet throughout the economy affecting everything from food to airline ticket prices.
Then add to that the front-page story in The Wall Street Journal that many large businesses are starting to put a freeze on hiring. There’s still a strong jobs market, but for how much longer?
What has us worried the most is that Joe Biden is the man without a plan. He keeps pushing trillions more spending for Build Back Better and he even recently floated a $1 trillion tax increase. Meanwhile, Treasury Secretary Janet Yellen wants a global minimum tax, which will negatively affect America the most. We should be selling tax reductions, not tax increases to the rest of the world.
Republicans are set to win a monster election in November, sending Democrats back to the minority in 2023. Larry Kudlow of Fox Business News likes to reassure Americans that “the cavalry is coming.”
Yes, but will they get here in time to rescue our flailing economy and save our working families?
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