With last months jobs report falling way short of the predictions why are we seriously talking about more stimulus checks?
The only time to print new money is when you have an economy that can back it up. I got news for you, America is coming up short! Consider the facts.
Joe Biden wants to strangle the golden goose with an increase to capital gains tax rates, he wants to increase the corporate tax--to the old bad Obama-era levels--he wants to discourage Americans from keeping their money in this country by imposing Draconian taxes on the wealthiest among us.
But what is not being talked about, is the biggest way he wants to rob us. He wants to print another round of stimulus checks. Every time we see a spike of inflation, your money is worth less. Sometimes there are credible reasons why governments print money and push through the problem of inflation. Wars are one of the major reasons why we see hyperinflation for example. Wars are as serious as it gets, and you could argue that during those critical times its might be ok to relax a nations monetary policy.
But do you know when it's not ok to relax a monetary policy? When you have an economy that is coming out of lockdown. The American dollar is the most used currency because we have the greatest economy and the greatest overall track record for generating wealth. To sum it up, Former President Calvin Coolidge put it best: the Business of America is Business.
Biden would rather continue to lower the value of the dollar when we have an economy that is ready to hire people. Each time we print these stimulus checks, we send a signal to the world, that we are not the strong economic super power that we used to be. An outsider looking at today's America would be left wondering, why are they living off of borrowed wealth when they are not even trying to work to their potential?
To put this in terms we can all understand, America right now is like a 28 year old college graduate that is working four hours a week and playing video games 8 hours a day and living off of his generous parents patience and pension. It's an ugly sight, and few of us are calling it what it is because the government is giving us money that we will have to work really hard to pay off in the future. The worst part is this free money doesn't buy as much as it did last year, and because of all the product shortages in stores, there is not much that we can even buy with it.
By printing even more stimulus checks we are wasting all the gains that President Trump gave us during his impressive four years. The companies that relocated to America during Trump will consider leaving. The companies that invested here because of Tariffs leveling the playing field will likely leave as well. As Mr. Biden fumbles the southern border we will go back to companies looking to hire super cheap labor again as able-bodied Americans sit home on the couch. It's not a good look right now!