Biscuit (Noun) : A person who is willfully ignorant and almost certainly incompetent

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Education Tuesday

If you’re following along you know we’ve discussed a lot about inflation lately. The federal reserve for several months has noted that it’s “transitory.” That means they acknowledge there is inflation in the economy, but believe it will “ease back to normal” once pent up demand from the pandemic “flushes” through the system.

When they began saying that a few months back I laughed almost as much as I do watching MSNBC’s Joy Reid pretending to report actual news.

The current policies of the Democratic party coupled with the Fed’s head in the sand approach to the economy right now are a train wreck of epic proportions coming straight at us. Let’s examine the Fed first.

They’ve kept interest rates at or around zero for a long time now. In the early 2000’s, they caused a recession by being far too aggressive with rates, at one point in time raising them 17 quarters in a row. Talk about an inpatient approach. The economy crashed, and they had to reinstate the lower rates to pump it back up. That move, coupled with a terrible regulatory environment around the mortgage lending industry, led to the housing crisis the US suffered in 2008-2012.

Now it seems they are trigger shy on raising rates for fear of upsetting “the recovery.” You know, the one with $3 gas and no one but rich white people able to buy a house.

They pump $120,000,0000,000 into the economy every month buy purchasing US Treasury notes, artificially keeping rates low for everything from cars to mortgages.

If that’s not enough, Democrats want to really ramp up the stimulus. Seeing how the $4,000,000,000,000 passed by Trump last year was not enough, they passed another one once they got rid of the Don. That added another $1,900,0000,000,000 into the economy. They started their negotiations on “infrastructure” by introducing a plan to add another $4,000,000,000,000 to the economy. Add in the Fed’s buying of bonds to stimulate the economy and you basically have a heroine addict who is high as a kite sticking another needle in their arm.

Pandemic or not, that’s roughly $7.4 TRILLION dollars (with an expectation of more) into the US economy in the past year. That may end up rivaling Barack Obama, the greatest presidential spender in US history, who managed to spend $10 Trillion in his 8 years (with hardly anything to brag about to show for it).

Nancy Pelosi, who would know a thing or two about “crumbs,” has bribed the lower class by continuing overly generous unemployment benefits and making sure anyone who did not want to pay their rent didn’t have to worry about getting evicted if they didn’t. Forget the fact that pumping all this money into the economy has sent rents and housing costs skyrocketing.

Here’s $300 a week, pay no attention to the trillions we’re giving to the top 10% of American earners. And those folks thrived.

Since March 2020, America has added 56 people to the list of billionaires. Studies confirm that billionaires added well over 1 Trillion dollars to their wealth pile during that time period.

And millionaires? Well shit, that’s just passe to be a millionaire these days. America added a staggering 600,000 people to the millionaire club since March of 2020.

The poor? Well, as you would expect under Democratic policies (see Detroit, Chicago, Philadephia, Baltimore, etc.. etc..) the poor have suffered greatly – but not realized it as the bribes, err, stimmy checks, EIC tax refunds and unemployment bonuses came in. Fat, dumb, happy and rid of Trump – that guy the Democrats said was a big meanie.

The chasm between those at the very top of America’s economic ladder and those in the middle and at the bottom was immense before the damage inflicted by the pandemic on the U.S. economy. That divide has widened. According to a study released Monday by economists Bruce Meyer from the University of Chicago and James Sullivan of the University of Notre Dame, America’s poverty rate increased by 2.4 percentage points over the final six months of 2020. That’s the largest increase since the 1960s and is nearly double the largest annual increase in poverty over the last 50 years.

As you also would expect, this has affected by far a disproportionate number of black Americans who continue to inexplicably vote for Democrats. Trump famously asked the African American community “vote for me, what do you have to lose?” Just more ground financially is the correct answer.

So here’s where we are. Gas is over $3. Grocery costs are up significantly. Buy a house? If you have cash you might be able to, but you better be rich and we know who is and isn’t from the paragraphs above. If you own a home do everything you can to keep it is my advice.

To combat these rising prices what might Democrats do to help people out? First time buyer credits? Subsidized rates? 100%+ Financing? Sounds pretty 2008 to me.

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