Is Bidenomics Crashing?

 If you follow the news, and even if you do not, you know that we live in a Panglossian universe where everything is for the best in the best of all possible worlds.

The economy was roaring along on all cylinders. Thanks to Joe Biden we had the world’s greatest economy, ever. As for diplomacy, the diplomat in chief just sealed a hostage exchange with Russia, and brought American citizens home. There is no inflation any more. The border is closed down. Crime has diminished. And so on.

The best part-- we always want to save the best for last-- is that it increasingly looks as though Joe’s successor will be Kamala Harris, a woman who Chinese citizens have now dubbed Lady HaHa. 

What could go wrong? 

We are reminded of the way the media gaslighted Joe Biden’s cerebral impairments, until the point where it was no longer possible to sell the lie. 

Didn’t something similar happen yesterday when markets around the world, stock markets, gold markets, Bitcoin markets, crashed in unison. Stampede to the exits we may call it.

Among those who have offered an opinions, we have David Goldman, on Twitter:

Biden's running a deficit of 6.2% of GDP during an economic expansion to bribe constituencies and goose demand. That's the source of the bubble that's now popping. It's Biden inflation and Biden bust.

Better yet, Joe Biden himself pompously intoned last week: “I cured the economy.” It looks like he is going to be eating those words.

But didn’t modern monetary theory, whatever that is, guarantee that we could indulge in rampant deficit spending and that the bill would not come due? So much for modern monetary theory.

Or better, the account called @akafacehots offered this commentary:

Hey guys our country is bankrupt, the markets are crashing, you can't buy groceries and you'll never own a home but Kamala Harris is a woman and black.

Stock markets discount the future. Could it be that the advent of Kamala has made its way from the cover of New York Magazine to the minds of market players? And could it be that the more people love Kamala, the more they ignore her manifest deficiencies the worst the reckoning becomes. 

As Prof. Gad Saad put it on Twitter:

Think about all of the times that you've heard @KamalaHarris speak. Have you ever heard her enunciate a single thought that was meaningful, profound, astute, or intelligent? I haven't. She knows nothing; she's done nothing; she has achieved nothing (other than in non-meritocratic pursuits). She is a baffling dolt; an imbecile void of any semblance of a mind. She is vacuous. She is @justintrudeau but more masculine.

The gratuitous swipe at the bastard son of Fidel Castro is perhaps a bit excessive. But then again, perhaps it is not.

But then, take a look around the world? What do you see that  provokes confidence in Joe Biden’s diplomatic skills? 

For instance, is war in the Middle East more or less likely now that Biden has overruled his Defense Secretary and ranted like a schoolgirl at the Israeli Prime Minister? Everyone should know by now that the more distance Biden puts between him and Israel the more likely it is that something bad will happen in that region.

As we saw yesterday, the Iranian regime believes that it can attack American troops and not fear reprisals.

One may wistfully recall the times when the big, bad Donald Trump was running Mideast policy. We recall the Abraham Accords and compare them to the Biden body count.

One should not forget that Biden allowed Iran to evade sanctions on oil sales, which enriched the regime in Tehran and funded terrorism throughout the region.

Well played, Joe.

Ben Shapiro offers this view of the Middle East, as it was:

Iran was contained, deterred and increasingly isolated by the burgeoning Sunni-Israeli alliance while Trump was president. Iran is unconstrained and aggressively threatening American assets and allies all over the region under Biden-Harris. That is not a coincidence.

And, of course, the Biden policy in Venezuela just imploded. Biden removed sanctions on the Maduro regime and called for an election, which Maduro lost but claimed that he won.

So much for the healing power of democracy.

While we cannot really say that these events bear the mark of Biden mismanagement, once-Great Britain is embroiled in a civil war. Apparently, the son of Rwandan migrants murdered three young girls. The government decided that the real problem was the right wing agitators who dared to call the perpetrator a migrant-- he was only the son of migrants-- and rioted for justice. 

The Labour government declared the problem to be right wing agitators and showed no interest in tamping down the leftist agitators, especially those who were militating for a free Palestine and for killing Jews.

Are we about to have a recession? The jury is still out. And yet, the market action over the past few days does not show a great deal of investor confidence. When Warren Buffett starts unloading major positions, it does not mean that now is a good time to wager on a bright future. 

So, everything is for the best, except that it is beginning to appear that the Biden administration gaslighting about the world’s greatest economy is about to go the way of the pompous pronouncements that Joe Biden’s mind is sharp as a tack.

As we await the ascent of Lady HaHa, we remark that someone who is laughing all the time might be laughing with you but also might be laughing at you. If the world figures out that the latter is more likely than the former, it’s time to head for the exits.

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