Posted originally on the conservative tree house April 8, 2021 | Sundance | 151 Comments
All of JoeBama’s economic policies mirror the Obama-Biden economic issues. Underline it; emphasize it; note the pattern. The policies that intentionally held down the U.S. economy during the Obama administration are once again being duplicated. It’s Déjà vu all over again.
JoeBama’s energy policy is crushing jobs in key regions where energy jobs are being lost in dramatic fashion. Simultaneously the costs of energy, including gas, are skyrocketing.
The longer-term costs have not yet hit the consumer, but they will soon as inflation will jump dramatically while employment will continue to struggle because consumer demand will drop… The issues create a cascading cycle.
The Biden administration is hiding their actual policy impact by blaming COVID, but that’s not the issue that will hurt blue-collar workers in the longest term. We are going back into the intentional disconnect I have talked about where the stock market (multinationals) will gain, but the U.S. worker economy will suffer lost jobs and lower wages. This dichotomy is by design and the corporate media economists never discuss it.
This reality is a big part of the reason why Pelosi and JoeBama needed to quickly pump money into the working class in order to avoid the pitchforks. However, that $2,000 injection will not last and will be eaten up quickly by the larger and longer term Biden economic policy.
The U.S. economy, which is 70% dependent on consumer spending, is going to contract. This contraction will be “unexpected” by the professional pundit class who check their stock holdings and smile. However, this contraction will not be unexpected by the blue-collar workers who watch their paychecks shrink and their costs to live (electricity, fuel, food prices) increase beyond their earnings.
If you are a blue-collar or white-collar worker in a BLUE region or state, you will feel the impact first. It is going to get very ugly, as noted by the disparity in the unemployment claims this week. Weekly unemployment claims [Dept of Labor pdf here] tell the story.
(CNBC) – […] First-time claims for unemployment insurance rose more than expected last week despite other signs of healing in the jobs market, the Labor Department reported Thursday.
First-time claims for the week ended April 3 totaled 744,000, well above the expectation for 694,000 from economists surveyed by Dow Jones. The total represented an increase of 16,000 from the previous week’s upwardly revised 728,000. The four-week moving average edged higher to 723,750. (link)
The negative results are continuing on a ‘Red State’ -vs- ‘Blue State’ dynamic as noted in the Bureau of Labor Statistics (BLS) reporting: “In February, the highest unemployment rates among the divisions were in Los Angeles-Long Beach-Glendale, CA, 10.9 percent, and New York-Jersey City-White Plains, NY-NJ, 10.8 percent.”
For the weekly jobless claims, here’s the breakdown by state:
Do not dismiss these results as just bad policy. There is also a strong ideological component as the Chicago Crew is driving the granular issues on a day-to-day basis. The Obama team intentionally work to diminish the economy of the United States because their “fundamental change” requires it. Joe Biden is an idiot and has no clue about what is structurally behind all the moves…. That’s why Obama installed Kamala Harris.
The professional republican class are corporatists; do not expect them to oppose any of these policies that undermine the U.S. economy and expand globalism. The GOP is paid by the corporations to act stupid and go along.
The road to serfdom is paved with fraudulent intentions….