President Biden has undertaken every effort to drive this country right into the ground. From the very day he swore in, he has placed the liberal agenda above what’s best for the country. This wasn’t something that was a secret during the election either. This was well identified, and because the mainstream media twisted President Trump up so much in their reports, the midline voters went the wrong way.
This wrong direction has cost every taxpayer in this great nation dearly. There is no one who was able to escape the impacts of Biden’s horrific plans, and those impacts are now about to slam into the American economy even worse than previously predicted.
Jamie Dimon, chief executive of JP Morgan Chase spoke to CNBC during a conference in London. While he admitted most people are doing fairly well right now in comparison to the 2008 financial crisis that swept the globe, the middle of next year is when we will feel these impacts from Biden’s choices the most.
“You can’t talk about the economy without talking about stuff in the future – and this is serious stuff. These are very, very serious things which I think are likely to push the US and the world – I mean, Europe is already in recession – and they’re likely to put the US in some kind of recession six to nine months from now.”
From the way he sees things, the Federal Reserve waited too long to act in the interest of Americans, and in turn, we now have 40-year-high inflation through the last 18 months. With their delay and not taking steps that were more effective the central bank of the US is left with a lot to do to get this country back on track.
The Fed has also greatly impacted the stock markets. Dimon alluded to this when he spoke of the S&P 500 looking ready to go down yet another 20%. This kind of loss in the stock market should have never happened, and it would have never happened with a competent President sitting in the White House. Though it’s not solely his fault. The people he has working for him, and liberals being put into local offices are not helping matters either. Meanwhile, the world is watching, and everyone is getting a bit of a chuckle from our situation.
Speaking with CBS’s “Face the Nation” Mohamed El-Erian, Chief Economic Adviser at the German financial services giant Allianz SE also spoke about the “bumpy journey to a better destination,” that the country is on. With the Federal Reserve “slamming on the brakes this year” but having the pedal just hit the floor, it’s not looking good from an outsider’s perspective either.
“Not only does it have to overcome inflation, but it has to restore its credibility. So yes, I fear we risk a very high probability of a damaging recession that was totally avoidable.” He’s not wrong at all, but rather, he is underplaying it. At this point, the recession is already here, and it’s only growing stronger with each passing day. The American people cannot keep going on like this and lose their money because of poor economic planning by this administration.
As Dimon and El-Erian both said, we are most likely not even at the beginning of it getting worse. If you think you’ve already lost a lot with these markets, you haven’t lost much at this point. The value of the dollar and the valuation of your assets is only going to sink like a rock unless you are counter-investing, something many people fail to do.
With any luck, the midterms will bring in new faces and ideas to flush out the horrific people we currently have sitting in these seats who keep placing Biden’s liberal agenda above what’s best for America. God knows what we’ve been doing to this point has been an utter failure.