With well over $8 trillion in Federal spending being worked through Congress this year, the ‘stimulus’ sugar high is already beginning to wear off, after a few good months of low-information voter optimism.
The age-old socialist pattern of ‘take from the rich (and destroy small business) and spread the wealth (to people who don’t work) simply doesn’t work long term. Margaret Thatcher was of course right — eventually you run out of other people’s money.
Yesterday’s economic numbers showed a massive drop in American production as almost all analysts now agree inflation is coming.
Today saw the month’s trade imbalance numbers increase negatively for America yet again.
There is something our readers need to realize — OBiden is not about economics. He is not about a better future. He is not about fixing anything, or making your life, or your family’s life better.
He is about destroying the greatest economy ever known to mind. He is doing the bidding of his communist Chinese masters in their prosecution of ‘unrestricted warfare’.
Once you fully embrace that fact, everything that is happening makes complete sense.
Financial markets are falling on inflation fears this morning.
Goods and Services Trade Balance (Mar) printed at -$74.4B vs -$74.5B estimate.
Goods Trade Balance (Mar) printed at -$91.6B.
Markit Manufacturing PMI (Apr) printed yesterday at 60.5 vs 60.6 consensus estimate.
ISM Manufacturing Employment Index (Apr) printed yesterday at 55.1 vs 61.5 estimate.
ISM Manufacturing PMI (Apr) printed yesterday at 60.7 vs 65 estimate.
ISM Manufacturing Prices Paid (Apr) printed yesterday at 89.6 vs 86.1 estimate.
ISM Manufacturing New Orders Index (Apr) printed yesterday at 64.3 vs 66.6 estimate.
Construction Spending (MoM) (Apr) printed yesterday at 0.2% vs 2% estimate.