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More Build Back Better Baloney

From the people who told us inflation was transitory comes the latest misdirection: we are not in a recession. Unlike politics, in economics, health, and war, redefining your terms won’t make you richer, healthier, or the winner of the battle. In fact, believing such nonsense will only make you stupid.

“What is hilarious to me,” said investment writer Derek Simon, “is that so many people care about a designation. When the tide recedes, one doesn’t need an ‘expert’ to confirm it. One simply cannot make a compelling case that the economy is growing. Yet, the stock market went up yesterday when Jerome Powell said we weren’t in a recession. No wonder math and science have become so warped.”

Is Wall Street drinking its own Kool-Aid? Maybe because they mostly backed Biden, they are invested in this word game and happy talk. Money guys are supposed to know how to count. And they should know that laying people off for what in retrospect looks like completely bogus medical rationale and then reinstating them isn’t job growth. It’s treading water.

Only laying people off for genuine financial reasons and reinstating them for genuine financial reasons is job growth! Confining them to their home on sick leave and then returning them to the job is not an economic miracle. Never mind that under Biden, the ball has definitely not bounced up to the height from which it was dropped before the pandemic.

What are the real chances it will bounce back higher? With 3 million new low-skilled, low-paid workers illegally flooding the job market, wage growth on the bottom of the economic ladder is stagnant. At the other end of this see-saw, there is increasing wealth for those at the top of the economic ladder. Wage stagnation and high inflation equal declining buying power for most Americans. In war, an army struggling to keep food and fuel lines open has trouble advancing. Is the American economy any different? Or are we content to move towards a volatile Third-World model with a shrinking and at times despairing middle class? Misery index anyone?

Yet Congress is still shoveling money out the door, inflation be damned. And while the bipartisan Congress is setting your financial house on fire, the Fed is increasing interest rates to pour water on the flames. Either way, your house will end up unlivable without serious repairs.

If you want to see who is being hurt by all this, just look in the mirror: retirement plans deferred, young people’s dreams derailed, and any optimism that our all-knowing all-caring leaders will fix the problem have been smashed into a thousand broken shards.

The only bright side, and it is a bright side, is that by throwing in their lot with the Biden baloney, our woke economic class will soon be as discredited as their political, legal, and medical allies have been. By signing away their soul to the devils of Build Back Better and ESG, these experts, like the deadwood they are, may well float out to sea on the receding economic tide. America needs business leaders as wise as its people, not the current cabal of ivory tower leftists leading our country into radical decline while calling it a success.

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