top of page
Search

Bidenomics vs the Great Depression (September 15th, 2023)

Sponsored by:


Ask anybody what was the low point economically in our history and they'd likely say the Great Depression. But was it really?


During the great depression the average house cost 3X the average salary. Now it is 8X.


During the great depression the average car cost 46% of the average salary. Now it is 85%.


During the great depression average rents were 16% of the average salary. Now it is 42%.


Since 1980 college tuition has increased by 169%, the average home price is up 540%, and the average student loan debt is $37,000. Those are all inflation adjusted numbers by the way.


I could go on but you get the idea. The CBO just released its latest budget report for August. They estimate a $2 trillion deficit for next year which I promise you is low by at least 50%. Since the debt ceiling crisis in the spring of this year, the debt has risen by a staggering $1.5 trillion. In the past 5 years the debt has risen by 54%, and that pace is increasing rapidly. The year-to-date interest expense alone on the debt just passed $800 billion, just interest, with no reduction of the actual debt, just interest, $800 billion.


Inflation is continuing to increase. Our national energy policy is an absolute trainwreck. As Stephanie Pomboy quipped on Wednesday, "We don't have an energy policy, we have a suicide mission." Crude oil eclipsed $90 today, and student loan repayments start again on October 1 to the tune of roughly $350 a month on average, which will be a further drain on consumer spending and savings but will ironically boost treasury receipts, which due to Bidenomics taxation and regulatory policies have been falling. Forecasts show household liquidity more or less drying up by May of next year.


And to top it all off, and this is something the media will never tell you but we at the American Adversaries will, the federal reserve is losing $758 million PER DAY paying interest to commercial banks on reverse repos, which means the fed is selling securities to banks and repurchasing them at a dramatically higher price, $758 million a day higher. Prior to the Biden administration the fed turned a profit on its operations and fed it to the US Treasury annually.


Now under Biden we have a fed taking massive losses on its bond portfolio and it is paying commercial banks, who by the way are making out like bandits, massive amounts of money to basically keep the entire system from collapsing.


Do you understand the amount of incompetency needed to have a money printer at your disposal and still lose billions? And it is only going to get worse....


We are two weeks away from yet another government shutdown, which will be followed by media smears of congressional republicans, followed by the GOP caving and passing a continuing resolution, followed in December by yet another budget busting omnibus spending package put together with no debate by braindead Biden, Schumer, and braindead RINO McConnell that will be devoid of restraint, sanity, responsibility, and accountability- then they'll all congratulate each other for their stunning legislative success, and the media will lap it up and heap praise upon them.


This is the fleecing of America and it is pure insanity, folks, and for the good of the country, and especially our children, it must stop. This is a bipartisan problem and the solution has to be bipartisan as well, or it won't be a solution, which in a big way is the problem. We either fix it, and fast, or we become Argentina and Venezuela. There is no alternative. Gradually then suddenly, and suddenly is getting a lot closer. 


Meanwhile our enemies will be laughing all the way to the bank, literally. It ain't just Make America Great Again, folks, it had better be Make America Solvent Again, too. 

0 views0 comments

Comments


bottom of page