Friday, April 23, 2021

Waiting For The Biden Depression

According to this report, the depression Trump predicted Biden's election would cause is nowhere in sight. In fact, the US economy is doing great:

https://www.washingtonpost.com/us-policy/2021/04/22/trump-biden-economy-depression/

That may be true, but just about ANY economy would benefit from the injection of trillion$ in free money.

What will really decide if we continue to thrive or sink into depression is the impact of the legislation yet to come:

1. What will the tax increases do? Are they just another way to claw back the stimulus money?

2. What will the Green Raw Deal do? Can we afford to lose that many fossil fuel jobs at the same time the overall cost of energy is likely to skyrocket?

As far as I know, none of Biden's economic geniuses have a positive track record managing ANY changes of the magnitude now being proposed. We won't know the outcome of their brilliant schemes until well into this decade, and by then the situation is likely to be completely different than it is today.

I'd bet on it.

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