Is Bidenomics The Highway To Hell? US Existing Home Sales Declines 17 Of Last 19 Months As Fed Slowly Shrinks Balance Sheet (Federal Debt Exceeds $33 Trillion As Unfunded Liabities Exceed $194 TRILLION)
https://confoundedinterest.net/2023/09/2...ed-194-trillio/

Is Bidenomics the proverbial “Highway to hell”?

The most recent report on US exisiting home sales showed that sales decreased in 17 of the last 19 months as The Fed tightens monetary policy to combat inflation caused by … 1) The Fed and 2) Bidenomics spending on green energy.

The US housing market will be “back in black” once Biden and Congress stop their reckless spending and borrowing. Biden has added $5,352,202 to the national debt since being selected (not by me!). That is a 19% increase in The Federal debt in just 33 months!

Not to mention the ludicrous $194 TRILLION in unfunded liabilities that the geezers in the Biden Administration (Biden is 80 and slipping into dementia) and the Geriatric wing of Congress (the US Senate) is home to fossils like Mitch McConnell (not looking well) and Diane Feinstein (90 and looking poorly). I didn’t forget about Nancy Pelosi (Communist-California) who is 83 and running for re-election. Younger doesn’t necessarily mean better since Pelosi’s nephew California governor Gavin Newsom is 55 years old and helped destroy California’s economy. Of course, the DNC will probably selected Newsom to replace scandal-ridden Biden as the Democrat in order to finish the job Obama started.

Existing-home sales slipped again in August as rising mortgage rates make housing prices the least affordable ever. Despite denials in many corners, a crash is underway.-- excerpt, rest at link above --

Now, this story is so odious, so redolent of evil, that I felt compelled to introduce it with the first story as a bit of an antidote.



‘Bidenomics’ is a godsend for rural America
by Sarah Jaynes, opinion contributor - 09/23/23 9:00 AM ET
https://thehill.com/opinion/finance/4214...-rural-america/


I grew up in a rural community, began my career as an organizer in small towns, and now lead one of the largest efforts to rebuild pro-democracy, pro-worker civic capacity in rural America. So I can speak with some authority when I say that President Biden, somewhat surprisingly, has ushered in a new economic paradigm that can radically transform the lives of rural people and build a more politically and economically secure future for all Americans.

He calls his agenda “Bidenomics,” a term that will be hotly debated in the months ahead. But what does it mean? And what’s its significance for rural people?

In simplest terms, Bidenomics arguably is the most significant departure in 40 years from the “free market revolution” that rose to dominance in the 1980s — a dramatic alteration to our country’s economic trajectory.

However we describe the policies stemming from that revolution — often called “neoliberal” or “trickle-down” economics — it is beyond question at this point that policies which favor those holding all the wealth do not, inherently, benefit everyone else. In fact, the impact on rural communities too often has been quite the opposite.

Small towns, in particular, have been hollowed out by free trade policies that sent a torrent of manufacturing jobs overseas. Financial sector deregulation destroyed local banking and stripped investment out of many small communities. Family farmers have been driven out of business in droves by ever-growing multinational companies running massive factory farms that pollute the air and water in local communities. And a continual wave of tax cuts that too often benefit only the wealthiest and most powerful have placed an incredible strain on the essential infrastructure that rural people need to live and work, including schools, healthcare, internet and roads.

It wasn’t an inevitable result of larger trends that many rural communities have experienced decline. It was the result of deliberate policy choices. And we can make different choices.

In spring 2021, a network of diverse rural leaders from across the country joined together to address the challenges of economic decline and corporate concentration in rural communities alongside increasing attacks on personal freedoms. They developed a policy roadmap that can rebuild local communities; elected leaders of all stripes would benefit from adopting this popular agenda that connects strongly with rural voters.

Their prescription included:

reinvesting in essential infrastructure;

ensuring fair access to capital and other tools and opportunities for rural families; and

reining in corporate monopolies to promote real competition and protect small businesses, family farmers, and workers from predatory and anti-competitive behavior.

Those leaders reconvened recently to evaluate progress-- excerpt, rest at link above --