Posted on 08/24/2023 5:51:59 AM PDT by Kaiser8408a
All aboard the Bidenomics Crazy Train!
Let’s see. We have inflation that is eroding wage growth so that REAL wage growth is negative. Meanwhile, the Biden Administration and Congress are spending like they can print infinite amounts of cash with no consequences. The result? The Federal government is paying nearly $1 trillion in interest on an annualized basis.
On the corporate side, we are seeing a surge in bankruptcies.
As Visual Capitalist’s Dorothy Neufeld and Sabrina Fortin show in the graphic below, based on data from S&P Global, corporate bankruptcies in 2023 are surging…
U.S. Corporate Bankruptcies Grow So far in 2023, over 400 corporations have gone under. Corporate bankruptcies are rising at the fastest pace since 2010 (barring the pandemic), and are double the level seen this time last year.
(Excerpt) Read more at confoundedinterest.net ...
“This is fine…”
I am torn on the whole “bidonomics” label. Yes, Biden deserves to be scorned for his handling of the economy.
But I know Biden has no economic plan! Giving what he is doing a name makes it look like his is doing something, when in fact Biden is doing nothing. It’s just ineptitude, incompetence and malfeasance, and not some bad plan!
“Meanwhile, the Biden Administration and Congress are spending like they can print infinite amounts of cash with no consequences. The result? The Federal government is paying nearly $1 trillion in interest on an annualized basis.”
Can’t call that “Bidenomics”. That’s Demo-Republinomics.
On the face of it, Ineptitude, Incompetence and Malfeasance IS THE PLAN.
The real question is with all these so called Biden Administration experts ALL marching to the same tune, WHO is playing that tune???
Fitch downgrades U.S. credit and the spending continues unabated.
With the destructive path we’re on the economic collapse will happen slowly, then suddenly.
“WHO is playing that tune???”
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A conductor chooses the score and the orchestra plays it. In this case, it appears there are several like-minded conductors. We may not know exactly who they all are but Obama, Soros, and some uber wealthy donors are certainly “composers” of this lamentable symphony.
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