It would appear that Joe Biden’s infrastructure plan is designed to make inflation worse, not better. According to the Mises Institute, it will do the one thing that’s certain to exacerbate supply chain shortages and inflation, namely to increase spending on material-intensive areas and energy.
To make matters worse, other nations have decided to imitate the plan, making inflation a growing problem all over the world.
Earlier this month, Biden commented that taking on more debt is part of how a country pays its bills, which is madness. But turning the money printing machines up to 11, as the infrastructure plan calls for, is borrowing from the bank accounts of those who have saved.
It’s an economic theory that, if Albert Einstein had been an economist, might have been called ‘spooky action at a distance.’
The excuses used to put this plan in place work on the majority of people who have been denied a functional education in economics. Biden blames higher prices on “multi-cause-inflation” and speculation.
Speculation is a problem, but that’s not what’s driving this growing recession. What’s driving it is the Biden administration’s willingness to grease the palms of Asian economies and money-interests.
How do we know this?
We know this because by following the money, we can see that Asian economies are the ones benefiting most from this spooky action at a distance.
According to Bloomberg Economics, Indonesia, South Korea, and Vietnam can expect to enjoy a 1% growth in their GDP. At the same time, China, Japan, and India will enjoy something between a .4% and .8% GDP boost.
At the same time, the $1 trillion spending boost called for by Biden’s infrastructure plan can be expected to elevate the costs of goods and energy.
The world’s most critical parts producers can expect to get more business, but their costs of doing business will increase as their energy expenses rise. This will hurt both production and delivery.
What will be created is a productivity bottleneck paired with higher costs and greater demand. It’s a three-pronged jab at our economy that can be expected to virtually destroy any prosperity we might have enjoyed as a result of Trump’s policy decisions.
The cumulative effect of these destructive policies will hurt jobs- the primary mechanism by which Trump fixed the economy. The added costs of energy for companies mean they will have less hiring power.
In short, Biden’s infrastructure plan achieves the same thing pre-Trump administrations achieved, but by different means- the evisceration of the working class.
Starting no later than the Clinton administration, the federal government made shipping production jobs overseas its main business, besides war of course. By the end of Obama’s second term, working families in the “fly-over states” were practically destroyed.
Wracked with under-employment, health problems, and addiction, coast-dwelling democrats had the heartlands on the ropes.
Trump brought them back from the brink, including inner-city blacks- making Trump the world’s most ineffective racial supremacist. He did it by bringing the factories back to the continental U.S.
In short, Trump put muscle back on America’s bones. Building up the hard assets of physical productivity infrastructure is an obstacle to Democrat money/power-grabbing that cannot be easily dispensed with.
You cannot legislate away these physical assets, they have to be degraded in other ways. This is where the Biden administration really shines, in its ability to degrade productivity capabilities that took a generation to dismantle.
It’s a plan that could only be fueled by spite and vengeance. One that has been made possible by a virus that creates the excuse for a plethora of policies that are aimed at destroying economies.
Never forget, the lockdowns have been the trigger for the single greatest transfer of wealth from those of modest means to those of immodest means in human history. Further, the virus that we are meant to believe inspired the lockdowns is now known to have been the creation of scientific research funded and promoted by the doctor-in-name-only, Fauci.
What we have here is a perfect confluence of disparate effects that could not be more precision-made to destroy the most robust economy in the world. It is a “perfect storm” that fits the decades-old “Great Reset” plan which has its roots in the mind of former high-level Trotskyist, James Burnham over 80 years ago.