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Friday, July 30, 2021
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Mr. Biden on Wednesday Introduced His New Plan, and Ran Up Against a Concrete Wall

#Biden

Mr. Biden on Wednesday introduced his new plan, a plan that calls for a sweeping use of government power to reshape the US economy (the world’s largest) in a $2.3-T proposal that was met with immediate Republican resistance.

The so called “American Jobs Plan” would put corporate America on the hook for the huge cost tackles climate change and boosts human services like care for the elderly, spends less than 6% on infrastructure that really need the entire $2.3-T and would create millions of jobs in the process.

“It’s a once-in-a-generation investment in America, unlike anything we’ve seen or done since we built the interstate highway system and the space race decades ago,” the masked Mr. Biden said in a self-serving statement that masks his real intentions, ‘Rob the Rich‘.

Mr. Biden’s 2nd multi-T$ proposal has sets the stage for a partisan clash in the Congress, where members on both sides of the aisle agree that investments are needed but are divided on the size and unnecessary inclusion of social services programs.

On Top of the massive misrepresentations he said he has no problem asking companies to pay the bill and is “gonna put an end” to Amazon.com (NASDAQ:AMZN) and other giant companies that employ millions of workers and operate legally under the federal tax code that fosters the building and success of such companies.

Hang on, he has another economic proposal that I learned today will be proposed later this month that adds $2-T more to his outlandish plan to redistribute Americans wealth. Mr. Biden has said he believes that there are too many rich American people and corporations and he want to take it away. Hence, the inclusion of social services programs.

All of the above added to the recently enacted $1.9-T VirusCasedemic aid/relief/stimulus package, Mr. Biden’s ‘social services + infrastructure’ notion would give the federal government a bigger role in the US economy than it has had in a few generations, accounting for 20% or more of our annual output. He will have conger up a war with Russia of China to get it done, Not Likely!

Have a healthy happy holiday weekend, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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