Joe Biden’s Highly Taxed Overly Regulated America makes Canada a better place to invest in – November 17, 2020,
So good news and bad news for Canadians, Joe Biden is an idiot which is great news for the Canadian economy. Sure Justin Trudeau is an idiot, but he hasn’t raised corporate taxes and now that Sleepy Joe Biden is going back to the globalist Paris accord, Canada all of sudden becomes a better place to park your money, that is f yo have any money.
Joe Biden is so dumb that he might raise the FEDERAL minimum wage to $15, now if he does this I’m pretty sure eventually Canada will do the same dumb crap but at least it will probably be in Canadian Pesos. This brings me to to the subject of taxes and regulations and the Canadian dollar.
So the one thing that Donald Trump won’t get credit for is his financial IQ, Trump cut regulations and lowered taxes, he also went tit-for-tat on tariffs which would have benefited Americans greatly even the U.S economy crashed. Joe Biden will do no such thing and both Biden and Harris on paper are very progressive and even if the Republicans manage to get the Senate which I don’t think will happen because voter fraud has been unleashed in America, there’s a lot Biden can do and undo without the Senate.
This bodes well unfortunately for the Canadian dollar, why I say unfortunately is because I can foresee the Canadian dollar going negative to stop its accession, I find it ironic that Donald Trump wanted a lower U.S dollar but Joe Biden will deliver a lower U.S dollar.
You really have to read Joe Biden’s plan for America, it reads like a person who sold out America to special interest groups. Now, I’m not saying Biden sold out America(Yes I am) but it sure looks like he will. Read his plan for yourself, As dumb as Justin Trudeau is, he will probably pick up a tip or two from Joe Bidens administration.
There’s a reason why people are talking more and more about modern monetary theory and it’s written all over Biden’s plan for America. Now, I can’t predict the future, but the problem with Modern Monetary theory is that the central planners are imagining that their digital dollar or their new plans for the current dollar won’t be abandoned.
When I say abandoned, I like to remind people that Jeff Bezos doesn’t have a Trillion dollars in CASH sitting in his bank account, he might have access to billions of dollars, but it’s not like all that money will be circulated. People outside of China don’t hard Renembi because they don’t trust central planners who can shut off or dilute their money supply anytime they want.
What I see with Modern Money Theory (MMT) are the central planners theorizing human behavior. Hey maybe it might work, but money is usually tied to something tangible, The Canadian dollar tends to rise when the price of commodities start rising, the U.S dollar tends to drop as commodities rise because Americans consume A LOT more than they produce!
Canada does the same, but shhhhhhhh.. let’s keep that a secret, we don’t want to spook the forex markets. Anyway because we’ve been playing with funny money for so long and technology has treated the GREAT DEFLATION and these central planners are hell-bent on inflating asset prices with cheap money, MMT is unnecessary, what’s necessary are higher interest rates, but you see higher interest rates expose MALINVESTMENT and malinvestment isn’t as bad as people think it is in the private sector, malinvestment is extremely problematic in the public sector.
What did you think there was no penalty for the prior minimum wage hikes? If money was backed by gold, meaning it had to be mined in order to be printed, do you really think we could have a $15 minimum wage without MASSIVE HYPER-INFLATION?
Ok so let’s imagine there was a Petro-dollar, is there no cost to bring oil out of the ground? Oh, I hear, you, you’re one of those green energy people, ok I play that game too, there’s a cost to build a solar panel, if currencies were backed by solar panels, do you really think we could have a $15 minimum wage without Hyper-inflation?
This labour union culture that even Donald Trump embraced can’t be sustained, either you want a market economy or socialism, you can’t wage and price fix an assume there will never be a day of reckoning. Anyway, history shows that societies prefer to learn things the hard way! Oh yea, I’d like to point out that a stronger debased Canadian dollar doesn’t equate to higher productivity, so get that thought out of your mind, I’m merely writing about currency wars
Joe Biden and Justin Trudeau are emblematic of the problems of the West! We all deserve what’s coming to us.
I’d pay close attention to that Canadian dollar if the electoral college crowns Joe Biden the victor because there will be currency wars, the race to the bottom!
Interesting times ahead!