DELRAY BEACH, FL – To listen to President Joe Biden opine of the successes of his administration so far, you’d think everything was working for the benefit of it citizens. But, it it seems he, and his advisers, all failed their course in Economics 101. All his “happy talk” is all so much blather and rosy misinformation. It looks like he is trying to emulate the policies of former President Jimmy Carter. It seems like Jimmy Carter “Deja Vu” all over again, a play on the famous phrase coined by baseball Hall of Famer, Yogi Berra.
Since it seems that Joe Biden is in the throes of a cognitive decline, his handlers and a clique of so-called “democratic socialists” in the Congress are leading him astray. They seem to be pulling the strings behind the scene. Very few, if any, of his close associates and advisers come from a business background. Most are academics and life long bureaucrats with a decided leftist philosophy, who have very limited economic experience.
Jimmy Carter, according to most historians, had a mostly failed presidency and it looks like Joe Biden is trying to emulate what the Carter administration failed to achieve, only this time on steroids. In the Carter administration we had abnormally high interest rates which, so far, Biden has not had to confront. Carter also had high unemployment rates, rising energy prices and fuel shortages, and ushered in what economists called “stagflation” (an economic event in which the inflation rate is high, economic growth rate slows and unemployment remains steadily high).
The economic policies pursued by Biden and the Democrat House and Senate, all point to a revisit of the failed Carter policies. Although Biden ran for president as a “moderate”, he hasn’t, since his inauguration, been anything close to being a “moderate”. He seems to be held captive by the far-left wing of his party, headed up by Bernie Sanders and “The Squad”. That far-left faction all consider themselves to be socialists (talk show host and constitutional scholar, Mark Levin, has label them part of “American Marxism”). Levin says that the “American Marxists” want us to follow the failed policies of Europe.
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What Biden and his cronies are proposing and getting passed in Congress, is legislation out of the Karl Marx playbook that might just bankrupt the country or come close to it. In the 7 short months that Biden has been president, he has proposed over $6 trillion in new government spending, money we don’t have and which the Federal Reserve must print up, that will exacerbate the inflationary conditions even further than they are now.
These policies of Biden are not based on sound economic principles, they are based on emotion, not on economic reality. It’s only a matter of time before these policies will blow up in their faces and most probably cause another recession, something our country doesn’t need during this highly volatile period in the world today.
The ghost of Jimmy Carter hangs over the Biden administration like a “Scarlet Letter”. Unless the voters can wise up and “throw the rascals out” in 2022, we will settle into a “political malaise”, as the Carter administration called conditions then, and which led to the election of Ronald Reagan in the 1980 presidential election. Reagan eventually turned the economy around, just like Trump did when he was elected in 2016. Joe Biden has overturned most of the Trump policies which is a harbinger of negative results that most likely will follow in our country. It’ll be “deja vu” Jimmy Carter all over again.