Bidenomics Brinkmanship: Is America Teetering On The Edge Of An Economic Abyss?

Written By BlabberBuzz | Friday, 06 October 2023 21:20
12
Views 3.5K

As the White House continues to promote the supposed successes of President Biden's economic agenda, there is growing evidence that a severe economic crisis may be looming.

One particularly alarming economic indicator, which has not been seen since the 1930s during the Great Depression, is now flashing warning signs. If the White House and Congress fail to address the issue of inflation-causing government spending in a timely manner, the consequences could be catastrophic.

In 2020, as the government imposed lockdowns in response to the COVID-19 pandemic, President Donald Trump and the Democratic-led Congress implemented massive spending measures to support the economy, financial system, and stock market. Trillions of dollars were spent, financed through debt and money printing.

 WATCH: NYPD DANCE TEAM WILL TAKE CARE OF ITbell_image

These unprecedented levels of money creation were fueled by policies set by the Federal Reserve, which encouraged Congress to spend more money and kept interest rates extremely low, despite economists' warnings about the potential for future inflation.

 WATCH: PEOPLE DON'T WANT TO HEAR THE TRUTHbell_image

When President Biden took office in January 2021, it seemed that the economic crisis caused by the pandemic would soon come to an end. Vaccines had been developed, and many states were reopening or preparing to reopen their economies. However, instead of returning spending to pre-pandemic levels, Biden and congressional Democrats, with the support of the Federal Reserve, chose to maintain significantly higher levels of government expenditures.

 PRESIDENT BIDEN'S ANCESTRAL CONNECTION TO PRESIDENT LINCOLN'S PARDON REVEALED IN NATIONAL ARCHIVESbell_image

This decision, combined with the Fed's choice to keep interest rates low and the fallout from the crisis in Ukraine, led to a surge in inflation not seen in four decades. Prices for essential consumer goods, such as eggs, milk, and gasoline, skyrocketed.

 ENIGMATIC DISAPPEARANCE: MYSTERY SURROUNDS VANISHING OF ANA MARIA KNEZEVIC IN MADRIDbell_image

In an attempt to rectify their mistakes and rein in out-of-control inflation, the Fed began raising interest rates dramatically in 2022, a policy that has continued into 2023. Meanwhile, the Biden administration and Congress have maintained government spending at levels much higher than before the pandemic.

 PRESIDENT BIDEN'S STATE OF THE UNION ADDRESS: A MAKE-OR-BREAK MOMENT FOR HIS 2024 BIDbell_image

As a result of these policies, the inflation rate has decreased, but not enough to bring prices back down. Most consumer goods and services, as well as rent and housing prices, remain significantly higher than pre-pandemic levels.

Remarkably, however, the money supply, which includes cash, checkable deposits, and bank savings accounts, has actually decreased. This means that even as prices continue to rise, the amount of money available is dwindling, placing an unprecedented strain on American families.

 CONGRESS MOVES TO HOLD DHS SECRETARY ACCOUNTABLE, PROPOSES SALARY CUTbell_image

The latest economic data reveals that the annual growth rate of the M2 money supply has been negative for the past three quarters, indicating a rapid shrinkage in available funds. The last time Americans witnessed such a sharp decline in the money supply was during the early 1930s, at the height of the Great Depression.

 PRESIDENT BIDEN'S BROTHER JAMES ALLEGEDLY LEVERAGED FAMILY NAME FOR INFLUENCE IN HOSPITAL SCHEMEbell_image

However, there is a significant difference this time around. In the 1930s, when the money supply turned negative, prices also dropped. In our current situation, prices are still rising despite the contraction in the money supply. This is an unprecedented occurrence.

 KNOW YOUR AUDIENCE: AOC'S TRIBUTE TO TRANS ACTIVIST IN CONGRESS MET WITH MAJOR BACKLASHbell_image

The reduced availability of money, caused by the Fed's policies and the Biden administration's inflationary spending, has created a dire situation for American families. More and more people are depleting their savings and accumulating debt to cover basic living expenses like food, utilities, and housing.

Federal Reserve survey data shows that the bottom 80% of income earners, who represent the majority of Americans, now have less real household savings than they did before the pandemic. Even savings for top income earners are projected to fall below pre-2020 levels within the next year.

The combination of higher prices, reduced money supply, and increased reliance on credit cards and consumer debt has reached unprecedented levels. In the spring, Americans collectively accumulated over $1 trillion in credit card debt for the first time in history.

So, this is what Bidenomics truly looks like: higher prices, increased government spending and debt, and lower levels of household savings.

Currently, Congress and the Biden administration are embroiled in a spending battle, and if a deal is not reached soon, the government could face a temporary shutdown. It is crucial to reduce spending and restore fiscal sanity in Washington, D.C. before it is too late.

The U.S. economy is treading on thin ice. If prices and inflation do not decrease soon, which can only happen if Congress and the White House reduce spending, the country will find itself in yet another massive economic crisis.

X