(Issues & Insights) Should President Donald Trump’s election challenges fail to keep Joe Biden out of the White House, it’s a certainty that bleak days will be ahead. We’re staring into the barrel of at least four years of sclerotic economic growth.
Six days after the election, Biden, employing the Democratic Party strategy of sowing fear whenever possible, warned that the country is facing a long night.
“Before the surge in COVID cases we predicted, many predicted, and the deaths rise that we’ve seen in December … we head into a very dark winter ahead,” he said.
“We remain in the midst of one of the worst economic and job crises in modern history,” said the man who as vice president oversaw one of the weakest economic recoveries in U.S. history.
Apparently it never occurred to Biden and his handlers that government intervention, not the virus, caused 2020’s downturn. Nor have they even begun to understand that Democrats’ economic policies, filled with steep, punitive taxes, and impossible-to-jump regulatory hurdles, are a slow-motion march of the economic lockdowns that almost instantly paralyzed the economy this year.
“Wall Street investors largely believe a Joe Biden presidency could mean lower stock-market returns,” says another CNBC report, this one highlighting the network’s survey of “more than 100 chief investment officers and portfolio managers.”
“Two-thirds said the first four years of Biden will be worse for stocks than Trump’s term,” according to the results…
An analysis of Biden’s economic agenda published by the Hoover Institution says it “reduces full-time equivalent employment per person by about 3%, the capital stock per person by about 15%, real GDP per capita by more than 8%, and real consumption per household by about 7%.”
A dark winter. A dark spring. Darkness until the Democrats are stripped of their political power to choke the economy. Bidenomics are not a promise but a threat.