Biden's Phony Recovery

Here is a real gem from schiffgold.com:

As Peter Schiff pointed out during a recent interview with NTD News, America has never done worse on trade. He called it a sign that we don’t have a recovering economy. In fact, we have a phony economy in danger of collapse.

The annual trade deficit for goods came in at an all-time high in January, increasing $3.4 billion to a record $221.1 billion. In another sign of the massive trade imbalance, there is a shortage of shipping containers to bring things into the US.

In a nutshell, the Federal Reserve is printing money and the US government is giving it to unemployed people who aren’t producing anything. As Peter pointed out, "They’re buying the stuff that people in other countries are employed making." [emphasis added]

"So, it’s the productivity of the rest of the world that Americans are living off of, and the trade deficit evidences that and shows you that our whole economy, our whole recovery, is a fraud." [emphasis added]

Economic research assistant Weimin Chen says stresses on the world’s shipping infrastructure uncover additional clues about the economic outlook in the US ...

Despite the record unemployment rate, widespread hardship to businesses, strains on the healthcare system, political turmoil, and general disruption to daily life in 2020, US consumers have managed to ramp up their habit of buying things. Demand for physical goods replaced some of the previous demand for in-person service-related experiences and much of that demand was met with a surge of imports from China as domestic production slowed down due to lockdown measures.

Source - https://schiffgold.com/guest-commentaries/what-is-the-shipping-container-shortage-telling-us-about-the-economy/

So, what is the Biden gang doing about this? Apparently they devoted their first high level meeting with China to the DEMONIZATION of the very country which is now supplying a significant portion of our consumer goods. You can read about it here:

https://www.theguardian.com/world/2021/mar/19/us-china-talks-alaska-biden-blinken-sullivan-wang

Clearly, China is our competitor. They do not HAVE to be an antagonist or enemy, but the US deep state seems hell-bent on making certain they can never be our friend. Does that make any sense to you?

Perhaps SoS Blinken's recent tirade was merely a charade meant to dispel the notion that Biden and his son Hunter have been improperly cozying up to China. But if it's not, Biden is about to shoot himself, and us, in the foot. Global corporations are NOT going to shift production back to the US. If they don't and China shuts the door in our face, we are screwed.

And perhaps that's the whole point. Apparently the basket of deplorables is deserving of yet more punishment to put them in their place.