Initial applications for US unemployment benefits rose last week by 20,000, the most since early May, while continuing claims also saw an increase. Michael McKee reports on Bloomberg Television.
Mike Bloomberg, as well as other Democrat media shills that have been cheerleading this horrible economy for years now, will throw in the words “Unexpectedly” to make it appear that nobody saw this coming, but Joe Biden has been a horrible President and if he wins again (which there’s a strong chance he will win) he’ll be a horrible president again.
The problem with this modern economy are OPERATIONAL costs, which is something “Left Wingers” like to ignore. America is known for its FREER markets, and Democrats have been going after trying to LIMIT FREEDOM OF SPEECH since around 2023. if people do not feel free to speak their minds, they will engage in changing behavioral patterns.
When you push a censorship agenda, bad economic ideas (for example, environmental, social, and governance(ESG)/Political Climate Change) start to be practiced by the private sector. The private sector hates LITIGATIONS or bad press, so they’ll often do what the political “leaders” advise.
One of the things I’ve been writing about for years now that’s being ignored by a lot of people is all of these business Acquisitions by inexperienced people who merely are trying to drain businesses of their capital without adding much value for the consumers.
In many instances, some businesses are not being replaced, and consumers are not missing these dormant companies because consumers are running out of money. The savior in the minds of people who imagine that Joe Biden’s economy is not the problem is that RATE CUTS will stimulate growth?
Most businesses and individuals are paying RETAIL interest rates unless you’re purchasing a mortgage; you’re paying at least 10% for a loan even if CENTRAL BANK interest rates are at ZERO; retail debt holders(AKA Consumers) are paying way more money than that for a loan.
The only entities benefiting from the Zero Interest Rate Policy are major corporations and the same GOVERNMENT that is creating the problem.
The problem is Fiscal spending, and if you know anything about the moral hazard of Fiscal Spending, the real problem under a FIAT monetary system is that BAD POLITICAL ideas will cause inflation and because the government CAN control the money supply in a fiat money system, instead of getting rid of their bad politically motivated economic ideas, the lower financial IQ types, will assume that PUMPING MONEY back into their failed ideas will solve the problem.
ESG for example is a huge PROBLEM, because it makes EVERYTHING more expensive and put a lot more regulations/restrictions on the PRODUCTIVE economy.