Government Watch / Opinion / Politics

Joe Biden’s Economy Is a Disaster

economy

This week, the stock market took a turn into bear territory on the heels of yet another brutal monthly inflation report. With the Federal Reserve considering larger rate hikes in order to tamp down record inflation, the possibility of a near-term recession now looms quite large, despite the feeble protestations of Treasury Secretary Janet Yellen. As former Clinton Treasury Secretary Larry Summers — the man who predicted President Joe Biden’s inflation — stated, “I think when inflation is as high as it is right now, and unemployment is as low as it is right now, it’s almost always been followed, within two years, by recession.”

All of this was perfectly predictable. Firehosing money into an already-hot economy was a recipe for inflation — and yet that was precisely the policy pursued by the Federal Reserve and the Biden White House. According to The Wall Street Journal, the Biden White House and the Fed thought that the post-COVID-19 period would follow the 2007-2009 pattern: “weak demand, slow growth, long periods of high unemployment and too-low inflation.” This was incontestably preposterous. The 2020 economic crash was not the result of systemic flaws in the economy like the 2007-2009 subprime mortgage crisis; it was the result instead of an artificially induced economic coma, supported by an unprecedented infusion of government cash, preceded by a historic economic boom.

This meant that when vaccines became available, when Americans headed back to work, when children went back to school, we should have been poised for an explosion in demand. To instead predict weak demand, and to build an extraordinary framework of continuing fiscal and economic stimulus on that basis, was an act of either total insanity, epic stupidity or purposeful malice. Perhaps it was a combination of all three. As the Journal observed, “many Democrats saw their control of the White House and Congress as a rare opportunity to shift Washington’s priorities away from tax cuts favored by Republicans and toward expensive new social programs.” Or, as Biden himself put it this week, “I don’t want to hear any more of these lies about reckless spending. We’re changing people’s lives!”

They sure are. It turns out that “experts” in the back room constructing a supposedly better world rarely consider the possibility of unpredicted side effects. They are so busy building glass castles in their minds that they neglect the realities of human behavior. The result is generally that those the “experts” seek most to help are actually those harmed the most.

But the Biden White House refuses to change course. Instead, they insist that the American people are too foolish to understand just how good they have it; that the answer is more government spending; that the Federal Reserve, whose loose monetary policy prompted the current price spiral, will magically draw the proper balance between rising interest rates and low unemployment.

The real answer to America’s current economic woes is simple, and the same as it ever was: Leave Americans alone. Stop pumping money. Stop subsidizing boondoggle projects directed at bolstering political allies. And stop pretending that our supposed intellectual superiors have the ability to predict, control and boost an economy comprised of 330 million citizens, all of whom are better qualified to make decisions for themselves than an incompetent and incoherent president and his unjustifiably arrogant lackeys.

Ben Shapiro, 38, is a graduate of UCLA and Harvard Law School, host of “The Ben Shapiro Show,” and Editor-in-Chief of DailyWire.com.

COPYRIGHT 2022 CREATORS.COM.


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Patty
3 months ago

It is POLITICALLY ORCHESTRATED TREASON against We, the People….
Plain & Simple …
No question about it!

Hal
3 months ago
Reply to  Patty

The obvious conclusion of our present economic (and other) National ills is …. rigged elections do NOT produce good results of governance. The voting system needs to be revised to ensure that it does Not happen again. However, a couple of other critically needed adjustments to the Nation’s governance need attention. Term limits on Congresspeople and executive Cabinet level heads (such as IRS, FBI, etc.). And a Balanced Budget amendment is needed to prevent the slick theft of citizens wealth by the politicians (with penalties against elected Congresspersons and POTUS if they fail). Otherwise, here comes DEPRESSION on the order, or worse, that the 1930’s spawned. The political establishment has got too greedy, mostly on the DemocRat side of politics … and WAR may be the chosen exit to cover for it.

Huey6367
3 months ago

By decreasing supply (supply change shortages) and raise crude prices, the only thing raising interest rates will do is cut back on things most take out loans to purchase (eg homes, cars, remodels, etc). It will not stave off inflation of all the other things that are used to calculate inflation. This is by design and will fix nothing.

Jammesd
3 months ago

Biden is a fool and an SOB by no other name. Biden and his Marxist Nazi Pig regime are traitors. Biden’s DOJ and FBI are comprised and are corrupt, they are the Nazi Brown Shirts.

Hal
3 months ago
Reply to  Jammesd

In hindsight, Trump should have cleaned out the FBI, not just fire the tall drink of urine that was head of the FBI. When Trump took office, the FBI had already largely become a tool of the DemocRats.

Walt
3 months ago
Reply to  Hal

Correctomundo

Tom
3 months ago

The American people see socialism Over there. They have never lived Nader it. Today Denmark Ian told income tax is 52% .A large home is 1200 sq.ft. Imagine living in that environment. Gas was 6.00 30 years ago and sold by the liter I’m told. The dems want all government and no lndividual input. I hate to see our country in such a mess .We need leaders not money and power seekers in office .Americans have short memories and want some else to do the work and leading.Like politicians sending troops everywhere but not themselves. Come November remember America and vote for her future. My nickel

Hal
3 months ago
Reply to  Tom

If all Americans had a nickel like yours, the Nation wouldn’t be in such a dire state now!!!

Tom
3 months ago

Record gas along with lights and food costs will show the American people how to vote The dems are acting as if the future is in their bag What ever they want is party time. The only way I see such an attitude being displayed is if the next election is also rigged The proof is in the pudding Good old George the billionaire has his puppet Biden sitting on his knee just like a ventriloquist act . If the dems stay in power load up on ammo and learn to speak Chinese cause they are coming for a weak and dumb down populace whose military will not be able to defend America. May God bless America and Trump or his methods

Hal
3 months ago
Reply to  Tom

If “the next election is rigged”????? So far, I can ‘t see any movement or effort to fix the problem of having a rigged election. There are a few obvious adjustments that need to be made to cure rigged elections, but I don’t see any of them being done. First, photo ID voter registration must be done … and for first time voters, it must be done in great detail. Second, every four years, previous voters must get new and up-to-date photo ID’s. If there are any changes in the voter’s status that affects their voting status, the voter is responsible to get an up-to-date new ID card with correct info and recent photo. The ID card should show photo, SSN, age, home address. The photo must be shown and approved by three different partisan reps (DEM, REP, IND, etc.). As a check on the validity of the presenting voter to vote, other ID’s may be required, and an SSN check be performed. If a voter tries to use a phony ID card, he/she will be arrested on the spot and be charged a hefty fine. Of course, that doesn’t fix the phony counts by planted political crooks blended into the counting process. And that won’t fix all the illegal voting attempts by the DemocRats, but it will make it much less likely that they can succeed in rigging the outcome of the election. We need to at least make it very difficult for the ComDems to rig elections … a “skill” they have acquired to near perfection with the system “as is”.

ho cau Tac
2 months ago
Reply to  Tom

donkey animal farm causes drug abuses, sexual policy, welfare dependents, criminal protections, defund policemen, protect robber, gangs… So American must depend on government of Donkey, and vote for donkey forever. That’s communist strategy. Dems and communists having the same tacticts: Do whatever to control the people.

Linda Huss
3 months ago

Biden is a puppet for Obama and Soros. This is Obama’s third term. That is why he bought a house in DC close to the Whitehouse. They picked Biden to run because he has dementia so bad that he doesn’t know where he is most of the time. Obama is a communist and is determined to make the US a communist nation. We need to get rid of MOST of the politicians and replace them with business men who love the US and want it to grow and hold the other nations responsible to pay their fare share. We CANNOT support the whole world.

Hal
3 months ago
Reply to  Linda Huss

Under the scenario you describe, if the Repubs get full control of both branches of Congress, Harris would be mostly hamstringed. In such a case, she likely would do things which would trigger a removal or impeachment from from office … leaving the Republican Leader of the H of R as the next “batter up.” Knowing that, the Commie DemocRats would change their tune to get in a more powerful position with the public and the News Media (which largely, with a few exceptions, is in love with the DemocRat Party) would openly present the propaganda of the DemocRat Party.
As we saw in the case of the harassment of Trump, the DemocRat Party showed its power in getting media support to push bogus and mean “news” to bring his intergrity down in the eyes of the American voter.

Ty
3 months ago

We are on the only constructive path and that’s to hog tie Biden in November with a landslide take over in the House and Senate. That would hog tie Harris too.If they impeach Biden we would have to deal with KH in the WH. God forbid! I abbreviated so they wouldn’t pick up on the plan! Neither are very bright, but both can read. And how do we know that? Because we are the first country to have a teleprompter for President!

Karen
3 months ago

Joe Biden is a disaster!

Hal
3 months ago
Reply to  Karen

No, the US economy and the Nation’s system of governance is a disaster. But I agree with you that Joe Hidin’ Biden is a disaster, but it shows what vote rigging can produce, especially when done by a Political Party that is Communist oriented with a near sole focus on the welfare of their Party and its members rather than the welfare of the Nation.

Juanita
3 months ago

WHERE ARE THE ARTICLES OF IMPEACHMENT TO IMPEACHMENT PRESIDENT BIDEN BECAUSE HE HAS NOT ABIDE ON HIS DUTIES HE SWORED TO UPHOLD LIKE
THE BODER
CRIME
DESTROYING OUR ENERGY INDEPENDENCE

MAKING DEALS WITH OUR ENEMIES NOT ENEMIES TO THEM BECAUSE THE DEMOCRATIC PARTY IS PREDOMINANT MARXIST, SOCIALIST, COMMUNIST.

Biden is not so nice to Ukraine because all Americans are wanting to help Ukraine on the other hand Ukraine was helpful to tram in anything President Trump needed Biden does only when he gets what he wants which is power through corrupt means like the saying Biden keeps Ukraine on bread and water just enough for Ukraine to wiped out from the face of the earth.
Is not that democrats do not want to make Puttin angry is that the Democrat Party and Puttin are socialist and communist=Marxist American haters
Biden do not go all the way Marxist because a lot more people are not socialist and communist=Marxist
The women in the socialist and communist=Marxist Democratic Party do not say anything against the desecration of woman that shows you that they are socialist and communist=Marxist all they care is about power they do not care about the well being of humans look at January 6 that is exactly the model they have for Americans desecration and total destruction.
Impeach Biden why are we so out of bravery.
When you take the house and congress you Republicans need to straighten the tower of pizza allegory the USA government because now is lining towards socialism—communism—-Marxist this government is republicans are to slow to correct the course of our government or they go on bunny trails or are to sensitive to criminals against the constitution or against humanity like Joe Pags says if you do not like go where you came from because you left because you didn’t like the form of government now you come to USA and want to impose the same corruption unless this people are illegal and are being paid by democrats to riot and protest in illegal places like outside the justices.

Max
3 months ago
Reply to  Juanita

You have to remember which party is in charge. Nothing will happen. Most intelligent people are well aware the stupidity of this administration and the Congress and hopefully the voters will vote in responsible representatives this upcoming election. However, as another commenter stated in another article forum, even if the Republicans were to take back both the Senate and the House, the current Republican hierarchy has stated that they have no intention of impeaching Biden should they obtain control so both parties can work together. Don’t hold your breath for positive changes to emerge from the new Congress.

Hal
3 months ago
Reply to  Juanita

Biden and his son got all thy could from Ukraine and now have dusted them off.

Brad
3 months ago

Dems are an issue due to thier beliefs. The GOP is not much better. The problem is DC, as a whole. The GOP spends useless $’s as fast as Dem’s. Printing money and spending beyond what could realistically be collected is destroying our country. We would be in an inflationary cycle, if Trump had been elected, due to all the stupidity of the COVID response BS and decades of poor financial management by previous cogresses. The only difference would be gas prices would be more manageable.

Hal
3 months ago
Reply to  Brad

My echo: TERM LIMITS FOR CONGRESSPERSONS AND EXEC HEADS (i.e., IRS, HLS, FBI, CIA, ETC.).

Ed
3 months ago

Bribden is the worst President in my lifetime.Thought Carter was bad, but this guy is usless. Lie after lie, of course he has been a liar since he first was elected to congress. I fear that many people do not understand socialism and do not fear it

Doug
3 months ago

This is being done on purpose. It’s all about power and control

Susan
3 months ago

You are so right! Biden wants socialism and broke Americans! I don’t know any American that would be happy in a Socialist Country, and those people that are, are flooding through our border to be free!!

Dotsster
3 months ago
Reply to  Susan

Agree

Jdub1031
3 months ago

Biden is a useful idiot being run by someone else…who knows who? No matter how you frame it, he is an idiot – always has been, always will be. He tries to imitate Trump by yelling out he doesn’t want to hear any more lies. What he doesn’t get is that when Trump called people out it was normally all true. Biden doesn’t have any idea what truth is. As the saying goes, you can put lipstick on a pig, but it’s still a pig. And so is Biden.

Lizzy
3 months ago
Reply to  Jdub1031

FJB……..!!!

Hal
3 months ago
Reply to  Lizzy

Yes…. Fear Joe Biden … or something similar.!!!

Hal
3 months ago
Reply to  Jdub1031

Maybe the media, can change the symbol of the DemocRat partry to a PIG? It would surely be a factor that the news is trending towards more accuracy!!!

Bill on the Hill
3 months ago

I’ve never been a particular fan of Ben Shapiro, perhaps it’s because of his youthfulness, can’t really say for sure, however he has done a credible job here laying it out on the current Biden administration’s ” lackeys ” that know more than the 330 million Americans do, as all of us are the living proof of this administrations absolutely terrible decision making processes or more aptly put, a total lack thereof…
Steve Bannon predicts, after the Nov. midterms the GOP will be in control of Washington, DC for the next 100 years…
I didn’t know whether to laugh or cry when I heard him speak those words, just yesterday in fact.
According to Bannon, the Dems will be splintered into ( 2 ) groups, the WOKE nut jobs we are currently stuck with & the other more reasonably minded Dems that refuse to go along with all the crap being hoisted on America by their fellow colleagues…
The problem I’m having with the Republicans running the show for the next 100 years is the current crop of GOP members of both houses, my best guesstimate is maybe 25% of the current GOP lawmakers are true patriots of the cause with the approx. remaining 75% Republicans on the take from outside sources, making them no better than the Dems, i.e. they are all a bunch of CROOKS!
Bill… :~)

PaulE
3 months ago

Your guessimate is just a bit too optimistic Bill. Aside from the members of the House Freedom Caucus and one and ocassionally another sometimes constitutionally conservative Senator, I wouldn’t give you two cents for the entire rest of the pack of the GOP members of Congress. Way less than 25 percent of the current GOP lawmakers. I share your concern with thinking the current crop of RINOs would be able or willing to either retain control of Congress or even actually do anything of substance for the people over a 100 year time frame.

Max
3 months ago
Reply to  PaulE

I am not saying that Bill’s numbers are too high or that yours are too low, unfortunately there is definitely not enough good politicians in the Congress to make a difference. IT WOULD BE NICE FOR A GOOD TURNOVER that the voters would place in RELIABLE SERVANTS for the people and get rid of the current cesspool residing in the swamp.

PaulE
3 months ago
Reply to  Max

I agree Max. We could certainly benefit from the replacement of so many RINOs, who are only there to collect a check and benefits (plus benefit from insider information to personally enrich themselves), with people actually willing and committed to doing the job of representing the people that voted for them. That takes the American people being able to make better more informed decisions at the ballot box concerning the people running. It all comes back around to the people need to be able to make better, more intelligent choices, to weed out the grifters from the people seriously capable of doing the job.

Hal
3 months ago
Reply to  Max

The “cesspool” will never be declawed until Term Limits are applied to member of Congress.

Bill on the Hill
3 months ago
Reply to  PaulE

I was winging it Paul & Max on my estimates being the ever eternal optimist I am, LOL!
Without term limits on members of Congress, both the House & Senate, invites corruption. Once they get a taste of the behind the scenes backroom deals, insider trader info, etc., ultimately making these people filthy rich with incomes that go far beyond their congressional salaries, it is difficult for them to break away from it as it becomes habitual & they become the whores of the positions they serve at the taxpayers expense…
The most glaring example of this is the demented old man currently sitting in the big chair, one Joseph Robinette Biden Jr along with a very well compensated son by the name of Hunter Biden & his uncle Jim…
I can go on & on with this, but I know Y’all get the picture…
On the Republican 100 year rule theory, assuming we had a couple generations of true patriotic members of Congress, I think it could take possibly longer, perhaps 50 years to straighten out the mess we are currently in, not yet knowing just how much more damage these socialists will be allowed to inflict on this nation between now & Jan. of 2025…
That particular thought I find quite scary…
Bill… :~)

Lizzy
3 months ago

WE NEED people that will work WITH TRUMP—if he runs again.(.HOPE HE DOES)…so he can set it up for the NEXT VP to continue..his POLICY’S another 8 years!!!!
WE NEED a strong Adm. to deal with CHINA and IRAN and to correct America’s path forward!

Max
3 months ago

Bill, I would not even bet for Republican control for 10 years. Shoot, I don’t even have the money to bet with — gas, electricity, food, clothing, etc. (LOL)

Bill on the Hill
3 months ago
Reply to  Max

LOL, I hear you Max, things have been getting a bit tight of late!
Bill… :~)

Lizzy
3 months ago
Reply to  PaulE

I’m Constantly getting e-mails/phone calls to DONATE to the GOP. I give them an ear full or just delete.I would ONLY donate to a TRUMP endorsed candidate!! MANY of the GOP can go “pound sand” as they didn’t help TRUMP when they COULD HAVE during his administration!!!!!!!!!!!
What they should do is “GROW A SET”
Problem is….American VOTERS put these “weenies” in office and WE are really to blame for their “non performance” VOTE THEM OUT…when the time comes!

Max
3 months ago
Reply to  Lizzy

As a registered voter, you have affiliated yourself with one party or the other. Then like all advertising agencies, your name “has been sold” so you that receive these unwanted solicitations by phone/email, etc. By law, you cannot delete yourself from these advertisers since the law conveniently allows such calls/emails to take place. All you can do is either ignore the calls or get a system that you can have the number you don’t want to receive ignored.

Bill on the Hill
3 months ago
Reply to  Max

My remedy for the RNC overly stuffed envelopes I receive periodically is simple, I feed them to my shredder, done…Furthermore, as long as Ronna McDaniel is associated with the RNC, that only doubles my reason for giving ZERO donations to them, done…
I donated ( 3 ) times directly to the Trump campaign for his reelection however, they weren’t large amounts at $20.00 apiece, but it made me feel better for at least trying to support the patriotic cause of arguably one of Americas greatest presidents in my lifetime of ( 69 ) years on this planet…
Bill… :~)

Max
3 months ago

The infamous shredder, that is where the junk mail ends up, particularly the political donations. Phone calls, end up on the answering machine and I enjoy the few marketers who speak to it thinking they have a human audience. (LOL) I do donate to just causes but only to those where I truly know how the donation is being used for and there is accountability.

Walt
3 months ago
Reply to  PaulE

There is not a dime’s worth of difference between a democrat and a Republican……keep that in mind folks…….do not…….I repeat…….do not pin your hopes on the Republican Party in the up-coming mid term elections……you will be sadly disappointed

Lizzy
3 months ago

Bill.. I heard the NEXT 10 years– NOT 100.

Bill on the Hill
3 months ago
Reply to  Lizzy

Hi Lizzy… I wasn’t hearing things when Steve Bannon stated after the Nov. midterms & a 2024 Republican president is back in the WH, ” The Republican Party will rule for the next 100 years. ” unquote…
Bill…:~)

Hal
3 months ago

More like 50%/50% …. but most of the 50% have to lean that way in order to win elections in DemocRat strongholds like the Pacific Coast states. The Nation needs desperately another Ronald Reagan who had the knack of charming the people into understanding the wisdom of his political views.

David Millikan
3 months ago

WHAT ECONOMY? Feds already said Unemployment is going UP and will continue through 2024 thanks to DICTATOR Beijing biden INFLATION and ZERO ENERGY OUTPUT FOR NEXT 2 1/2 YEARS BUT WILL CONTINUE DRAINING ALL OUR STRATEGIC RESERVES THAT PRESIDENT TRUMP HAD FILLED FOR US.
DICTATOR Beijing biden has already put the UNITED STATES back in TIME by OVER 60 YEARS WITH HIS FASCIST POLICIES.
SO, I SAY AGAIN. WHAT ECONOMY?

Lizzy
3 months ago
Reply to  David Millikan

Turd Brandon can’t find the toilet much less know what the ECONOMY is doing!

Hal
3 months ago

In case anyone doesn’t get …. Inflations in the economy is primarily and to a great extent merely a way for government to tax the citizenry in such a way that they can’t directly understand what’s being done to them. INFLATION IS ALMOST 100% TAXATION IN DISGUISE BECAUSE IF THE CITIZENS KNEW AND UNDERSTOOD WHAT WAS BEING DONE WITH GOVERNMENT SPENDING AND FISCAL MAN AGEMENT, THE DEMONCRATS COULDN’T GET ELECTED TO DOG CATCHER………

Hal
3 months ago

In summary: The Nation needs term limits of Congresspeople & exec branch heads (e.g., IRS, etc.) AND a balanced budget amendment with penalties applied and adjustments applied when they fail, AND the voting system needs fixing so insure it cannot be rigged or illegally used.(with prison penalties for abusers who support cheating or aiding in cheating.

Amanda
3 months ago

I have seriously thought about what a fool he is ! He waited all these years to be president, just so he can be known as the worst idiot in American history ! I can’t even stand to watch this nut on TV or any of his swamp creatures. The most free loving country in world turned ghetto. I pray for our country and to bring her people together again. I hope we all can hang on through the rest of the term cause we all know the big guy not done destroying us

Bill T
3 months ago

I have a contest for our president, let’s see who can SPIT the furthest. It would be a honor to have such a talent to show exactly how much honor and appreciation we all have for our leader. I bet we would all get in on this talented and prestigious opportunity. Who’s in?

Bill on the Hill
3 months ago
Reply to  Bill T

Sounds like the beginnings of a revolution? OR perhaps we haven’t suffered quite enough yet?
Now that our meat processing plants are burning down all across the nation & livestock dying from unknown sources, where exactly are we heading folks?
Perhaps all of this craziness is in preparation for what the global elitist’s at DAVO’s have in store for us…
Have you eaten your protein rich ” bug sandwich ” yet? Not forgetting the microchip inserted into our bodies for geo tracking purposes…
Klaus Schwab, Bill Gates, George Soro’s & numerous other wealthy luminaries spoke at the WEF in complete support of this madness btw…
The latest rumor is farmers are losing chickens & cattle & other livestock from BAD grain & it is occurring on a daily basis now…
They are still trying to kill us with the poison vaxxines, the truth has been revealed on this subject…
The vaxxines haven’t killed enough people fast enough for these evil people, now they are attempting to starve us to death by contaminating the grains & killing livestock in LARGE numbers coupled with the burning down of meat processing facilities, ain’t no cattle or chickens, who needs the processing facilities? Just a thought…
Bill… :~)

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