Summarizing the AP report, this is what we should expect ....
.... When Bill Clinton spoke of how to build a bridge to the 21st century, it was to be constructed with balanced budgets, welfare recipients who found jobs and expanded global trade.
Three decades later, President Joe Biden is dealing with harsh 21st century realities and his approach has been the exact opposite: Borrow to spur growth, offer government aid without mandating work and bring global supply chains back to the United States.
This change in Democratic policy reflects the unique crises caused by the pandemic, as well as decades-old trends such as the rise of economic inequality, the downward slope of interest rates that made borrowing easier and globalization’s pitfalls as factories departed the Midwest. White House aides are comparing the scope of Biden’s policy ambitions to Franklin Delano Roosevelt’s after the Great Depression.
The part on comparing the scope of Biden’s policy ambitions to Franklin Delano Roosevelt’s after the Great Depression made me chuckle. President Biden is not President Roosevelt.
And as for what the Biden administration wants to accomplish while they have control of the Congress. I have seen this playbook many times before in many places, and here is my prediction.
President Biden's stimulus program will probably cut poverty by about 40% this year. With this amount of "helicopter money" being dumped how can you not decrease poverty and/or give the illusion that poverty is being alleviated.
But next year, when all of this money has been spent, we will then be seeing the following. High inflation, poverty levels surging, economic growth stalled and/or worse, and deficits exploding to unsustainable levels (as if they are not there already).
7 comments:
"Lockdown policies promoted by Western governments distorted demand so much they created a crisis in a global logistics chain designed to meet former patterns of consumption."
Leaders do not attend Wargame simulations or FED stress tests. That is there is no management by walking around. Of course they get shiny white papers and other reports, which reflect their biases and the biases of their yes men.
Do poly sci, public administration, international affairs, and JDs know what JIT, lean, or anything else is except as a buzzword that seeps into their vocabulary after the term has been around for 3 or 4 decades?
Two decades ago the there was a blow up between India and Pakistan . Plus there was a strike in the west coast ports. Supply Chain got hurt. Did the Beltway notice?
Joe has an excuse for being a moron. It is advanced brain decay. What are the excuses for Ron Klain, Kamala and Obama?
"China is the “big trade winner” from lockdowns in the West, says the Telegraph. "
Way to go Joe!
Worth every penny Xi spent on Hunter, Mr. Pelosi and Mr. Feinstein.
“The United States does not have the qualification to say that it wants to speak to China from a position of strength.”
- Chinese Communist Party Central Foreign Affairs Commission Director Yang Jiechi
Blinken got all wee weed up like a little school boy.
Beijing is explicitly challenging Washington for leadership of the world.
Is Blinky the Clown still all wee weed up?
"Just when the progressive coalition was getting ready to crush the “near enemy,” the “far enemies” are making their play"
Yes, but Biden et al are gearing up to dump their helicopter money, which was all printed or borrowed. Geezer logic. Gotta love it!
name calling is for children
Maximum Leader Barack Hussein used "Wee Weed up' to ridicule, so I will use it.
I love your punctuation and capitalization kid.
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