Progressives are Bad For The Economy and now North America has 3 Progressives in charge of handling COVID-19 – November 13, 2020,
So, even if it doesn’t happen, the expectation for many of us are investors is that the economy is headed for a serious economic downturn for at least the next 6 years. The President of Mexico Andrés Manuel López Obrador is a Socialist, The Prime Minister of Canada Justin Trudeau is a Socialist and the mainstream media has crowned Joe Biden as the 46th President of the United States and on paper, he’s a Progressive borderline Socialist.
Now, who knows, maybe things are on the up and up for the economy in the next few years, but Progressives and Socialists tend to get the world into wars because Progressives like to pick winners and losers irrespective of what the ‘Free Market’ is signaling to them.
Progressives believe that the government should regulate freedoms and liberties, Progressives also believe that there are periods in which law-abiding people are property of the State. This doesn’t bode well for investors, who tend to look at things in the long term, if there’s a fear that particular properties will be stolen, investors will change their behavior.
COVID-19 lockdowns are bad for the economy, but Progressives believe that printing or borrowing money solves all problems. Now under Donald Trump, he printed money, but there was a business-minded individual behind his printing of money, in Canada as an example Justin Trudeau has spending money like crazy, but no investor understands what Trudeau is trying to accomplish, so to an investor Progressive do a lot of malinvestment and this equates to investors taking quick profits out and moving on to the next stupid progressive government action.
So at this point, most people see the writing on the wall, but it’s not like Progressive types even care, so moving forward, it would be wise for you to protect yourself and your investments because the problem with printing money or providing central bank liquidity is that the cost of living will go up for the Mainstreet economy, capitalism is deflationary, socialism/progressivism is INFLATIONARY!
The cost of living is going up while people have less money and the government’s cure will be to make the cost of living even higher? This has an economic crash written all over it, but hey, maybe I’m wrong!
Interesting times ahead