By MARK ALEXANDER January 21, 2022 in The Left: Economy & Taxes
Manipulating the economy to achieve the Left’s political agenda.
All Americans are experiencing a devaluation of their income as a result of surging inflation. Those in low-skilled and entry-level jobs holders, whom Joe Biden and his socialist Democrat Party claim as their constituents, have been hardest hit.
Joe Biden did that.
Contributing to his inflation bomb was his deliberate constriction of oil supplies, which caused fuel prices to surge. There was also the total ineptitude of his AWOL Transportation Secretary Pete Buttigieg, meaning no resolution for supply chain clogs — also contributing to higher prices.
But the major inflation factor was Biden’s so-called COVID relief bill passed last March — a $1.9 trillion boondoggle to fill a $300 million economic hole related to the ChiCom Virus pandemic. The other $1.6 trillion was fodder for inflation.
Notably, that bill included distribution of more $1,400 checks nationwide, and more “enhanced” Biden unemployment bucks, $400 per week, to keep millions of American workers off the job in months where job openings were also surging. Economics 101: Limited supply and/or excess demand result in higher prices.
How did that impact inflation?
Biden knew that Demos couldn’t succeed in passing his job-killing minimum wage boost, so his leftist cadres decided to circumvent Congress and manipulate the economy by ensuring unemployment paid more than employment.
After Republicans blocked Biden’s effort to double the minimum wage to $15, he had to find another way to force employers to raise wages in order to entice employees back to work.
Biden’s strategy to force higher wages was to collude with his Demo governors across the nation to extend government unemployment payouts in order to entice workers to stay unemployed — despite the fact that, at the same time, there were a record 9.3 million unfilled job openings.
It has been enormously difficult for small businesses, which often employ low-skilled workers, to survive the disastrous pandemic shutdowns, particularly in Demo-controlled states. And every major employer of hourly workers I have spoken with over the last year has universally agreed that Biden’s unemployment bucks are directly responsible for their unfilled jobs, as well as the resulting wholesale and retail inflation.
The inflationary consequence of Biden’s artificial wage-manipulation strategy has been to suppress economic recovery and simultaneously inflate prices for all Americans. Ironically, that inflation hits the budgets of low-income Americans hardest, because it is hourly employees who man the supply chain pipelines for food and other consumer products — which are the largest percentage of low-income household budgets.
Fortunately, Biden’s additional $3.5 trillion inflation “solution” died in December. However, in his non compos mentis year in review press conference this week, he indicated he is going to just chop that hyper-inflationary behemoth up into bilk back better boondoggle bits, laughably arguing that more government spending will defuse his inflation bomb.
Oh, did I mention the national debt is also a ticking time bomb?
Semper Vigilans Fortis Paratus et Fidelis
Pro Deo et Libertate — 1776