The Stupidity and Influence of Bernie Sanders and Joe Biden’s lack of leadership: Debt Ceiling Political Theatre Exposing The Financial Ignorance of Politicians – September 8, 2021,
As Peter Schiff likes to point out, raising the debt ceiling is admitting you can’t pay your bills, I agree, I think we all wish when we ran out of money we could go to our bank and DEMAND they raise our debt ceiling? Why is the United States allowed to do this? and why are people allowing this to be labeled capitalism? In capitalism, if something like this were to happen at the very least the bank lending you the money would have to raise your interest rate.
In this bizarro world not only can the U.S raise its debt ceiling whenever they want, but the Federal Reserve in most instances will buy up most of the debt. When the U.S borrows money the idea behind it is to borrow money to make back more money than it borrowed, well when America raises the debt ceiling it’s admitting that the prior money it borrowed can’t be paid back and this is occurring even with near-zero interest rates?
I don’t know any normal person who gets a loan at near zero percent interest rates for over a decade and is able to keep piling on the debt, it’s not even to say the debt the U.S borrows is appreciating in value, at the very least based on current market conditions, if a real estate investor borrows money from a retail bank to buy property, because interest rates are stuck near zero, the real estate investor sees some price inflation in the properties it buys.
The U.S federal government has made such bad investments that nothing it invests in appears to appreciate in value? Most banks under those conditions would tell that debtor to go look elsewhere and it’s not like the U.S can’t look elsewhere to raise revenue and it’s not like the Federal Reserve doesn’t have the Eurodollar system. So why then do responsible U.S taxpayers get stuck paying for incompetence?
More importantly, why is the Biden Administration acting like nobody knows what they’re doing is political theatre? The answer is simple, they’re looking for someone to blame because they clearly have no idea what they’re doing or the damaging effects of what they’re doing will have on the U.S economy. Donald Trump spent more than Joe Biden is spending, but Trump in his own mind had a plan for that spending.
The Biden administration is looking for a scapegoat because as an example Democrat Joe Manchin is complaining about the reckless spending and the Democratic Socialists in the party don’t understand why. If you’ve ever listened to a Bernie Sanders Democratic Socialist, you’d soon realize that Bernie Sanders and his followers have extremely low financial IQs.
People in the Democrat Party who share the economic beliefs of Bernie Sanders don’t imagine that there are any economic negatives to what they consider “Social Justice” and they also imagine America as a monopolistic empire that can print as much money as it wants without consequence, they believe their subjects(the voters and American public) will get in line and life will continue as it did prior.
Believers in big government don’t imagine that for every action there’s a reaction, they imagine themselves as steamrollers who merely keep their eyes on the prize and keep on rolling. So when one of their own starts to ring the alarm about reckless spending, it’s confusing to them, “Why would Joe Manchin go against The Greater Good”, “He must be an agent of Trump”.
Because Joe Biden is not only a dumb leader but a short-sighted one he’s trying to play both sides of the Democrat Party. Not realizing that the Democratic Socialists are the MINORITY in the Party.
As Hilary Clinton has stated when mentioning Bernie Sanders “Nobody likes him, nobody wants to work with him, he got nothing done. He was a career politician,” she said. “It’s all just baloney and I feel so bad that people got sucked into it.”. As everyone knows, Joe Biden is who I believe has an extremely low IQ is a horrible leader, the people who voted for him I believe did so ONLY to get rid of Donald Trump.
Voters attached Joe Biden with Barack Obama and assumed Joe couldn’t be as dumb as he’s proven to be so far. Joe Biden is a very stupid man he’s filled his administration with Bernie Sanders loyalists and Biden’s lack of leadership skills has him currently tanking in the polls, he can raise the debt ceiling without the help of Republicans, but he doesn’t want to because it’s clear that he and his administration have no idea what they’re doing and they want a scapegoat when they fail.
Lastly, I want to make it clear to the reader that Joe Manchin is NO Conservative, if you look at Joe Manchin’s voting record he’s very progressive, the only reason he seems Conservative is that Joe Biden has allowed Bernie Sanders a lot of power and influence in his administration. All of this goes back to what Hilary Clinton said about Sanders, Bernie is very divisive, he’s an extremist, he’s a career politician that wants America to be a socialist nation and in every socialist nation the politicians DESTROY their currency in the name of “Social Justice”.
Interesting times ahead