We’re going to cover more about what’s going on in this country, with regards to censorship, big tech and attack on free speech on Friday; today, our focus is strictly on Biden’s economic plan, because every American needs to know that in Biden’s first five months in office, the administration is likely to pass programs to the tune of $5tn!
First off, Biden is very likely to immediately push through the additional $1,400 in stimulus checks, above and beyond the $600 that was already sent to qualifying adults and families.
The impact of these programs on what everyday items cost at the grocery store is becoming apparent:
The government can’t just wake up in the morning, draft a $2tn to $3tn stimulus plan, vote on it and magically make currency appear in the hands of citizens and government contractors without it creating ripple effects. With all due respect to the world’s largest economic engine, with an annual GDP of over $20tn, these laboratory experiments in abusing currencies to generate fake prosperity by borrowing to the limit, have never worked in human history.
Currency, in the form of fiat credit, has never been and will never be a sustainable solution. We may be enjoying a major market boom, but it’s also creating a giant wealth gap, which makes the United States a polarized country, pushing to the extremes of right and left and it evolves into far less common ground between people to agree upon.
On top of the $2tn to $3tn stimulus program, which would include Biden-approved checks, we anticipate aid for state and local governments, more vaccine distribution funding, new rules for rent forbearance, discussions about a national mandated $15 minimum wage, schools getting help with additional federal funds, student loan forgiveness and more!
If you remember, this past Sunday, we had hypothesized that Biden would either resort to war (Russia, for example) or to handing out money, in choosing the path of least resistance with regards to bridging the gaps in society.
As we said, though, nearly half of Republicans don’t believe in the election results, so giving their consent to Biden to do anything is a feat in and of itself.
This fear, this blatant lack of trust, is manifesting itself not only in the price of Bitcoin, but in the move away from the dollar, in general.
The banking system does not address the complexities of the unbanked and of the global economy, and Bitcoin is forecasted to be an intricate part of the fintech future.
Next, in April and May of this year, Biden’s team will likely introduce a truly bipartisan program, the long-awaited infrastructure plan. It could be something that Republicans agree to in a wholehearted manner, since people who are unemployed will earn their “stimulus” so to speak, by working towards modernizing the communications network, the bridges, roads and sewer systems, along with ports and 21st century commuter trains, among other burning issues!
We believe that the combination of this insane amount of fresh currency injection will further accelerate the debate between the bears and the bulls. The bears are sure that the bulls are playing with fire and flying too close to the sun, while the bulls are sure that with zero interest rates, the government should be spending like never before, thus creating a world of expensive valuations, which will lead to increased volatility and much confusion!
Check this out: