The Riddle Report 03 26 2021
Alarming News on Inflation
As I have predicted concerning the Biden/Harris Administration, their actions are going to lead to inflation.
I follow Dick Morris and in a recent report he pointed out that the pressures are overwhelming, and that inflation is coming. He pointed out that unlike Americans, Europeans, and others look not on daily prices but on the value of the dollar. And the pressures caused by stimulation money plus new taxes that are about to come down plus environment regulations and labor regulations, inflation is coming.
The formula of the stimulus package plus higher taxes plus environmental and labor regulations leads to inflationary pressures. These in turn will lead to corporations providing less goods and services while higher capital gains taxes leaves less money to invest in new plant and equipment, higher income taxes means less job creation, and environmental and labor regulations leads to constraining the supply of goods when supply demand is about to explode.
News Item #1 Stimulus.
While the stimulus payments to people are needed and will help people, I see the stimulus package as doing more harm than good.
Because of the pork!
Helping out states that have been impacted by the Chinese Virus is one thing but bailing out states that have mismanaged their state’s tax flows and expenses is quite another. It is pork.
Another interesting aspect of this is that nearly all of the states affected are Blue (Democrat) states. And the Red (Republican) states affected appear to lean left.
Apparently, fact checkers don’t dig very deep. They accept the Biden/Harris explanation of where the money is going and don’t really check them.
In the case of the states receiving money, when you dig deeper you find that the states can spend part of their 350 billion dollars on such items as abortion. Whatever your position on abortion is, that is not pandemic relief!
News Item #2 More Pork
Here is a partial list of recipients:
- Provider Relief Fund – $8.5 billion
- Public Health Workers $7.66 billion
- Community health centers – $7.6 billion
This is again available for abortion services!
This is government running wild. It is beginning to look like the House had its agenda, the Senate has its agenda, and the President has another agenda.
News Item #3 Foreign Affairs
In what world does foreign affairs have a part in a stimulus package?
There may be just reasons for giving them money. That is not what this blog is discussing. But that money is supposed to be stimulus money and should stay home!
How much are we talking about?
News Item #4 We have a Crisis!
Most arguments tend to center upon how much money is going for this or that. And I have demonstrated that tons of money is going for non-pandemic issues. But the amount of money is missing the whole point.
There should not be going $1 (that is one dollar) to non-pandemic issues. Helping low-income people is related and a priority; staving off evictions is a priority; helping restaurants and other businesses forced to close because of pandemic, a must.
But using a crisis as an opening to get pet issues taken care of is immoral. Perhaps some of those pets are really needed. Then work on pet relief!
We expect those in power to exercise responsibility, especially fiscal responsibility! But the Biden/Harris and Pelosi/Schumer teams are more concerned with political expediency than in handling a crisis.
With nothing indicating a change of mind, we are heading for a disaster. We now have thousands of immigrants coming into the United States and staying (despite Biden/Harris claim otherwise) plus trillions of dollars of debt hanging over us and more on the way. It is a recipe for disaster.
Oh, don’t worry, they say. We’ll tax the rich.
Well, after you’ve taken all that they have and forced them to leave the country, then what?
There is no real answer except for: “Gulp!”
News Item #4 Conclusion
Polls are now reflecting a loss of confidence in Biden/Harris and that Americans are finally waking up to the fact that open borders is not good business.
Gas prices are going up because of the inflation and eventually more will happen. You can’t do much about it until 2022.
So, to those of you who voted for Biden/Harris, Sorry. But you had your chance to vote against them! Instead, you voted for them, perhaps multiple times. So, strap your seat belts. It might get rough.
Oh, and if you are waiting for Biden to step aside and let Harris rule openly then I suggest you beware what you wish for. She is much further left than Biden ever dreamed of being!
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