Economic Experts Warn ‘Catastrophic Effect’ of Bidenomics

 October 13, 2023

For two years, Joe Biden has told the American people that his policies are working.

He walked us into massive inflation, and all of our bank accounts shrunk, yet Biden insists that we are all better off today than when he came into office.

Experts say otherwise.

Talking Points…

  • Joe Biden on Bidenomics
  • What experts are saying
  • My Two Cents…

Joe Biden on Bidenomics

About a week ago, Joe Biden stood before the American people and told them how great they are doing.

Over half the country says otherwise, but Biden keeps forcing the issue.

In part, he stated:

"We're growing the economy from the middle out, the bottom up — not the top down.

"And inflation is coming down at the same time. It's down 60 percent since last summer. Core inflation was just 2.2 percent over the past three months. And now we have the lowest inflation of any major economy in the world."

Biden also continues to push the narrative that he has "created 13.9 million new jobs," but that is just a blatant lie that has been debunked.

Most of these jobs came back from COVID; they were not "created."

Biden did get one thing right, though. We know what is to blame.

Biden stated:

"And it's no accident. It's Bidenomics."

Experts Say Otherwise

I have read so many reports on this, and the only people touting Bidenomics are pundits who support Joe Biden, backing up his twisting of the numbers.

One of the biggest problems for Biden's economic plan is that people are fleeing high-tax blue states for better financials.

New York and California have been getting crushed by defections, while states like Texas, North Carolina, and Florida are booming.

VonFinch Capital founder and real estate investor Steven Pesavento explained:

"They're chasing lower taxes, they're chasing better business policies, and they're chasing a better way of living.

"They're also looking for other people who believe what they believe and to kind of get away from all the craziness that's been happening in schools in those local areas where they used to live."

Michael Lush, a financial real estate educator and founder of Replace Your Mortgage, commented on the financial aspect of inflation increasing while income has remained stagnant.

Lush stated:

"We're technically going backward at a staggering level."

Billionaire investor Stan Druckenmiller did not hold back that he believes the economy is going to crash, stating:

"It's just naive not to be open-minded to something really, really bad happening."

My Two Cents…

I have been saying for months that even if we get some relief over the summer, with winter comes a repeat of what we saw last year.

All the signs were there, and we are worse off on the energy front than last year.

The most significant warning sign to me is the fact that the cost of goods is rising while disposable income is shrinking. Above all else, that is a huge danger sign that a Great Depression-like crash will hit.

By not warning people properly, that crash will be even worse.

There might still be time to avoid it, but I don't see how with the government literally printing money to pay its bills and the United States now involved in supporting two wars.

I would love to be wrong on this, and I hope I am, but I am preparing for the worst.

About Jerry McConway

Jerry McConway is an independent political author and investigator who lives in Dallas, Texas. He has spent years building a strong following of readers who know that he will write what he believes is true, even if it means criticizing politicians his followers support. His readers have come to expect his integrity.

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