Mortdooley wrote on Dec 17
th, 2021 at 12:06am:
These are some of the results of a stolen election. There is no denying this is totally a result of democrats living their dream!
Build Back Better’s freeze puts the bow on Biden’s very bad yearIs President Joe Biden doing anything — and I mean anything — right? The news that his multitrillion-dollar swing for the historical fences, the Build Back Better bill, is being shelved just put a bow on his mostly horrible first year in office.
If Biden had a blackboard and drew a line down the middle with his achievements on one side and failures on the other, the positive list has maybe two things on it while the negative list is staggeringly long.
Negative: Inflation. Rising crime. More COVID deaths than in 2020. The mishandling of the Johnson & Johnson vaccine. A border crisis to dwarf any we’ve seen. The ever-shifting line on school closures.
More in the negative column: Getting dinged by courts on efforts to continue a national eviction moratorium through the Centers for Disease Control and on the national vaccine mandate. The disastrous pullout from Afghanistan. Bad off-year election results.
It doesn’t really matter why Biden went down this stupid path. It doesn’t matter whether he had an idea about solidifying his party’s progressive base in the way Donald Trump solidified his party’s conservative base. Or maybe it was because third-rate newsmagazine historians and bestselling pop biography toadies came to the White House sucking their “PBS NewsHour” thumbs and swelling his head with comparisons to FDR and LBJ and whatever other three-initialed liberal gods they might have invoked to cloud what little reason Biden might have left.
What matters is the results.
He didn’t “fix” COVID. The country is experiencing inflation at a level 170 million people in this country (all those under the age of 40) have never lived through before. Cities are returning to the state of nature. And Biden’s party is going to have to go out there next year and see whether it can do anything to stave off the tsunami that will sweep it away 11 months from now on midterm Election Day.
https://nypost.com/2021/12/15/build-back-betters-freeze-puts-the-bow-on-bidens-v... A Fed that has left its official interest rate at zero with inflation already near 7 per cent is not being hawkish, but outrageously and utterly disgracefully accommodating.
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No wonder Wall St said thank you very much and promptly leapt back to its all-time high.
A rate rise postponed to ‘some time’ in 2022 is a rate rise postponed forever so far as the Street is concerned.
So, the Wall St party – underwriting global share markets – continues for now. But it will end badly, very badly, and much worse than what we would have seen Thursday if Powell had done his job.
That would have been an immediate stop to the money printing and a lift in the Fed’s official rate to 1 per cent.
This will end in tears.