by Michael Snyder, The Economic Collapse Blog:
If your economy is “spiraling downward”, is that a good sign or a bad sign? To me, that doesn’t sound good at all, but if I am mistaken please tell me. I just want to make sure that I am not “misinterpreting” anything. Brian Deese, the man who will shortly be serving as the head of the National Economic Council, has publicly stated that our economy is “spiraling downward” at this moment. When I hear that, I picture a passenger airplane that completely loses control just before it crashes. But according to Deese, there is a solution. All we need to do is to pass the 1.9 trillion dollar stimulus package that Joe Biden is proposing…
TRUTH LIVES on at https://sgtreport.tv/
A top economic adviser to President-elect Joe Biden warned the US economy is “spiraling downward” and called for swift action to address vulnerabilities that the global pandemic has drawn into focus.
Brian Deese, who will serve as director of Biden’s National Economic Council, said Sunday that the incoming administration’s $1.9 trillion spending plan would generate “the kind of robust recovery we need.”
That sounds so good.
All we have to do is press a button and we will be on our way to a “robust recovery”.
But what about all of the trillions of dollars that we already spent on all of the previous “stimulus packages”.
If they didn’t fix the economy, why will this one do it?
Perhaps they weren’t big enough, and so why don’t we make this next one 19 trillion dollars instead of just 1.9 trillion dollars?
If printing, borrowing and spending 1.9 trillion dollars is good, surely 19 trillion dollars would be so much better.
Of course I am being facetious.
The truth is that over the past year we have literally been committing national financial suicide.
Just look at what our leaders have done to our money supply…
We used to talk about “hyperinflation” in the United States in theoretical terms, but this is not a theoretical exercise any longer.
I cannot even begin to express how horrifying this is, and now our politicians in Washington plan to add another 1.9 trillion dollars to the fire.
As a part of his “stimulus package”, Joe Biden also wants the federal minimum wage to be raised to 15 dollars an hour…
It also calls for a $15 federal minimum wage, from $7.25, higher taxes and more regulations. Those initiatives have already alienated some Republicans and drawn criticism that the proposals are far removed from an emergency effort to shake off the coronavirus-related slowdown.
But at the rate we are inflating our currency, that certainly won’t be a “livable wage” for long.
So I have an idea.
Let’s make the minimum wage 150 dollars an hour.
Surely that is a proposal that our socialist friends can really get behind.
And when I use the term “socialist”, I am referring to most of the politicians in Washington.
If we force all of the “greedy” small businesses in America to pay their employees $150 an hour, then all of those workers will finally be able to live the lifestyles that they have always dreamed of living.
But of course many of them also wouldn’t have their jobs for much longer, because most of their employers would shortly go out of business.
Unfortunately, the socialists in Washington don’t understand how businesses actually operate. In fact, the vast majority of our politicians have never actually run a successful business.
What they are good at is spending other people’s money, and members of “the Squad” are publicly calling for even larger “survival checks” that Biden is proposing…
–AOC: “$2,000 means $2,000. $2,000 does not mean $1,400”
–Ayanna Pressley: “The people deserve, demand and require $2,000 recurring monthly survival checks.”
–Ilhan Omar: “The American people are struggling to make ends meet and need relief. We must immediately pass $2,000 survival checks.”
–Rashida Tlaib: “$1400 < $2000 Math teachers know this. That $600 is already in the clutches of landlords and bill collectors. Stop compromising the working class, and our most vulnerable neighbors.”
As I discussed yesterday, the cost of issuing $2,000 “survival checks” a single time would be approximately 600 billion dollars.