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Non-Tech : Kirk's Market Thoughts

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Dec 19 9:30 AM EST

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To: rdkflorida2 who wrote (16979)	10/4/2023 12:13:23 PM
From: robert b furman	2 Recommendations Read Replies (3) of 26800

Trump added a large deficit as Covid hit in his term. To quote him "We're going big" - it was 1.9 trillion and it WAS BIG. It is not a matter of growing up, it is a record of unleashed spending primarily aimed at : 1) American Rescue Plan 1.9 trillion of which a tiny part was infrastrucure. Huge subsidies for cities and supportive unions ie teahers union. 2) The New Green Deal 1.0 and 2.0. Of course these huge spending increases were euphemistically called ridiculous head fake names like :Inflation Reduction Act. It is simply history. It doesn't take age to recognise it, but one does have to follow the money. on a chronological basis. During the entire time of Biden's Administration, the Democrats benefitted from highest ever government receipts, a product of Trump's tax cuts. Trump did add to the deficit in his 4 years. So too has Biden, but his budget has really only been in effect for 2 years as this Sept. Deficits only measure the debt. Total expenditures measure the money spent and if they have occurred in growth is the final justification IMO. This viewpoint has resulted in Biden's failure of the very ideologue administration. In the very good position of the highest ever receipts, Bidens administration has invested in lpw return projects that have not increased growth.If growth had occurred we'd have more expenditures chasing after more goods and inflation would not be the number one problem. Inflation in its simplest terms is more money chasing the same amount of goods. Biden's decision making on where to place the receipts has resulted in a failure of growth and sadly the re-occurrence of inflation (40 year high). It has driven up cost for energy (check your electric bill). It has driven up cost of gas and yet we have produced record levels while the Industry has suffered the blunt edge of regulation and an unwarranted growth of renewable energy which has errantly been billed as cheaper (but only with government subsidies and regulation that makes it the first used) and then backed up with a stable redundant source of energy? The two systems are vastly more expensive than just the one that is reliable.all the time. The Euro land is a poster child of this approaches failure (now using more coal powered electricity than ever. Coal utilization on a global scale is the highest ever - a completely failed global policy. His economic choices are failed. It will not be cheap to correct them from the poor choices his administration has made under his leadership. Biden has once again started a war - a fine reward for the Industrial Military Complex - a huge portion of our economy that Trump threatened when he wound down Afghanistan. This is a fair analysis of the results of good and poor policy of all of our past Presidents. It is worthy of taking political talking points out of the analysis and simply ask: Is it working better than before or not. The many lower income people we have in our country now are the one's who can honestly answer that question the best. The wealthy just save less when inflation gets expensive. The poor suffer. They don't have decisions to make - they suffer. Search your soul as to who has made the better decisions regarding the creation of growth. This is a fair read on that subject I believe: investopedia.com Bob

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