Biden’s Plan for Rebuilding the Economy by Controlling the Virus

Joe Biden

Joe Biden tells us that to recover from our current economic crisis, we need to control the virus. This is like saying the cure for alcoholism is to drink more alcohol.

Democratic presidential nominee Joe Biden has been accusing rival Donald Trump of not having a plan to either recover from the coronavirus pandemic or recover from the economic one, where he blames Trump for both pandemics. He’s now laid out his plan in painful detail, and given how much he has now hitched his cart to this issue, coming up with a detailed plan is a great idea, so we can peer into the minds behind these proposals and gain a much better idea of how his plan would actually help or hurt the economic recovery he is telling us that it promotes.

If his plan were just to look to control this pandemic, where the economic impact of his approach was simply ignored, as the so-called health experts do, that’s one thing, but Biden bites off much more when he says that this is the path to economic recovery.

We have to at least applaud his apparent effort to not only take the economy into account, but even make this the primary goal, or allege that it is, it’s one thing to say it and quite another to pull off such a thing, given that these goals, the way he presents them at least, are opposing.

Even before looking at his plan, we know with certainty that we are about to see a train wreck, where he is not looking to promote the healing that our beleaguered economy sorely needs, he is looking to abuse it even more. We’ll have a look at his plan anyway, and keep an open mind towards the possibility of his actually helping and not damaging our economy even more, even though we do know what is coming.

If you can blame President Trump for both pandemics, a belief that is so utterly inane, then the contradiction of improving our economic recovery by damaging it even more isn’t much of a stretch. Biden and his cohorts never did go into any real details about how Trump is somehow responsible for either of these threats, and we would have loved to see how this might be explained apart from just shaking their fists in contempt at him, but we can’t even imagine what could be forwarded to support this, so this one is doomed to remain an unexamined delusion.

We know from this that Biden is fearless when it comes to embracing contradictions, so while we did a double-take when we saw his recent commercial telling us that we need to recover from our economic crisis by controlling the virus better, this did not serve to shock us all that much. He invites one and all to check out this plan on his site, and so we did.

It should worry people much more than it does generally that Biden actually does blame President Trump for our current economic nosedive, as this is so out of touch with reality that it is not anything a sane person could ever think. We generally want to put people this out of touch in an institution, and if this does not meet this threshold, we’re not sure what does.

We are already troubled enough with this man’s display of classic symptoms of dementia, not knowing where he is at times and even forgetting what office he is running for, telling us that he is running for the Senate, but these are fairly minor symptoms compared to blaming Trump for our economic crisis.

This all played out in full view, and the interesting thing about this delusion is that Biden is both accusing Trump of not wanting to lock down our economy and also being responsible for the damage locking it down caused.

This is even more than just a contradiction, as Trump has clearly campaigned against this from the very start to today, without even wavering. He told us at the outset that America wasn’t built to be shut down, and was actually one of the very few people in public office that tried to speak for our economy and the way that we are trying to choke it to death.

Neither Trump nor Biden have any say in state mandated economic lockdowns, and even if Trump was as zealous about it as Biden is, he does not have the power to order any of these lockdowns or national mask mandates or any of the other things that Biden professes he wants to do.

The fact that Biden thinks that this can possibly be Trump’s fault leaves us no other option but to conclude that Biden is completely out of his mind, and we cannot even think of anything this ridiculous in history. There are surely others who have such demented thoughts, but they aren’t running for president, and we need to seek a higher standard for our presidents than someone who is so utterly incapable of anything resembling rationality or sanity.

Biden’s now telling us that he plans on fixing the economy by doubling down to fight this virus is just as stark of a contradiction, just as distant from logic, but we’ve come to expect this from Joe. Our strong interest in our welfare, in particular, our economic welfare, compels us to at least have a look at what his grandiose plan may look like.

When we arrived at his site, we were not surprised to see that his claim that this is in any sense about trying to heal economically was merely bunk, made clear enough by just reading the title, The Biden Plan to Combat Coronavirus. Perhaps he forgot that this was supposed to be a plan to recover economically by combating this virus, but he’s a forgetful guy.

We haven’t forgotten what he told us in that political ad, whether or not he tried to trick the economy into coming into his lair with promise of food and warmth and then just threw it down the well instead, but someone needs to care about these things, someone needs to do a health check on our kidnapped economy and want to at least try to rescue it from being held hostage.

We then will pretend that he at least tried to speak the truth about his looking to guide us out of this economic crisis, and have a look to see how well he will do with this should he be given the chance to put this plan into action.

He does tell us that we deserve a robust approach to “the growing public health and economic crisis caused by the coronavirus outbreak,” so he’s at least giving lip service to the economic crisis in the first paragraph. Let’s see how he does with this.

The first thing that Biden tells us is that we need a lot more testing. He has some grand plans here, but leaves out the part about why we need such a thing or now more testing contributes to either goal. This is perhaps what happens when we cannot get beyond the pre-cognitive level, and we’d love to ask Joe how this is supposed to help anything.

This certainly does nothing to help our economy, other than to spend government money on it, directing it away from spending it on things that may actually contribute to a relevant goal. This is mere trivia, and does nothing to halt either the outbreak of the virus or our recovering economically from it, and in fact, there are scientists that tell us that testing is in itself what is behind the economic part of this crisis, and what has drummed people into such a frenzy that they would so absurdly over-react to this health crisis in the way we have.

Testing does not come with any practical benefits though, and someone needs to tell Joe that, to give him a more informed opportunity to reconsider making this a centerpiece of his plan for us.

Biden Wants to Make the Whole Bigger, Then Borrow More to Make Up for This

He then shows us his idea of how his plan is to help our economy, which involves an economic response that makes the Democrats’ House bill look tame, where he wants to reach into his bottomless pocket and bail everything out, somehow coming up with the wherewithal to completely compensate everyone for their losses.

Anything is possible in the world of fantasy apparently, and if you are planning on spending $10 trillion on fighting global warming, it’s not surprising that you would not be bothered by trying to use federal funds to underwrite the whole thing, to burn everyone’s house down and then promise to rebuild it all, and whether this is even possible isn’t seen as a concern.

It’s not even that Biden just plans on rebuilding all the houses that we have burned down so far, he wants us to burn down a lot more of them, seeing the price tag for this so-called solution of his spiral even further out of control. Anyone with a sense of the economics involved in this plan has them startled out of their mind, as this would take us beyond our capacity to bear, and the treasury market could never handle such a shock.

Someone needs to tell Joe that tens of trillions of dollars does not come from the tooth fairy and we need to borrow this money from real people who wish to lend it to us, the treasury market. Joe may want to spend like there’s no tomorrow, like these things don’t matter, but in this game, if you want to borrow more than they will lend to you, the country itself will collapse.

This would precipitate economic harm of orders of magnitude worse than what we have seen this far from trying to strangle our economy, when we instead simply kill it. Frankenstein will lay dead on the floor with such a plan, and the very idea that we can spend our way out of this in the way Biden proposes is as grotesque as they come.

Biden assumes that the mind-boggling amounts of further money he wishes us to borrow to pay for this willful damage to our economy does not come with consequences, and although we’ll surely never be able to pay any of this money back, we will have to pay the interests costs of it, now and forevermore.

In 100 years, if the country somehow manages to survive fiscally that long, which looks like a pipe dream anyway and especially one if Biden drops such huge bombs on it as he hopes to, the American people of 2120 will still be paying interest on this particular sum of money Biden wishes to conjure up as part of his plan.

Biden will be long dead and may not care, but someone needs to care about our economic future, and not just throw trillions around so utterly recklessly without a care in the world about consequences.

There are two main issues of capacity involved here, our capacity to borrow and our capacity to repay the interest on what we borrow. Every extra trillion that Biden wants to add to our bill for this, an overall bill that is already over $10 trillion and rising, needs to be borrowed. There is only so much money out there to borrow, only so much that the world is willing to lend the U.S. government to pay for both the country’s overspending and the escalating costs of paying the interest on this debt.

The Damage of Fiscal Recklessness is Like Diamonds, Forever

Every extra trillion we borrow now is a trillion we will not be able to borrow later. Every trillion we borrow now also adds more to how much interest we need to pay back year after year, and this damage is permanent, meaning that each extra trillion will rack up interest that will be charged to the American people year after year until forever.

There are actual limitations on fiscal spending, so each time we add to our interest costs, this limits how much we can spend in the future. The damage here has been bad enough, but Biden wanting to add to it profoundly by seeking to burn down even more and just send the entire bill to him is reckless beyond belief.

This is not a plan to heal our economy, it is instead one that seeks to greatly speed up its destruction. We’re eventually heading for bankruptcy, but Biden wants to greatly accelerate the timeline for this, as well as wish to punish every American who is alive and all those who are yet to be born, without a care in the world, and even worse, with great conviction.

Biden wants to take away our food from us, and then reach into his pocket and replace the benefits of free economic exchange which normally feeds us but has been withheld, and take food off the table of Americans in the future. This is not unlike how some people do it, if they quit their job and then put all their living expenses on their credit cards, until everything comes crashing down. It’s not a big deal when these things crash down on individuals, but seeing that happen to the United States is simply apocalyptic.

This is just one plank among many things that Biden plans on hitting Americans over the head with, and all this borrowing adds up to something even scarier. In terms of his virus response spending, we do need to do some sort of cost-benefit analysis, as it is always sensible to do, even though some like Biden do not give what is sensible any consideration. Someone has to.

In seeking to balance embracing economic harm and allegedly manage our health crisis, by listening to only one side of the story, the health part, and seeking to ignore the economic side of things, this has led us to where we are now. Biden wants to listen to those who have no expertise on the economic side, and do much more in ignoring the economic side, ignoring it completely in fact.

It is at least worth mentioning that we do not even have any evidence at all to support the idea that lockdowns improve the health outcome here, but at the precognitive stage that Biden’s mind is locked into, these things apparently do not come up.

It would be completely out of character for Biden to even wonder about these things, to first take an honest appraisal of the ultimate cost of a lockdown strategy and then even asking how this is supposed to help things, so we do not expect anything of this sort from him, but someone needs to be thinking about this a little lest he be allowed to throw us into the abyss without even wondering whether the idea even makes a bit of sense.

Biden’s plan is written in the third person, with remarks such as “Biden believes that we need to spend whatever it takes” to choke ourselves unconscious and then borrow whatever it takes to regain consciousness, and this therefore wasn’t written by him, he just lent his name to it, although we would not be any less startled by it even if he did pen it himself. Regardless of the role Biden has played in coming up with this plan, it is no less disturbing.

Biden, or at least his ghost writer, keeps referring to how our leadership must be grounded in “science,” although that’s just left to stand on its own and does not explain that he is not actually looking at the science we have in its entirety, but instead on selective claims that are supposed to be based on science but instead emerge as a result of a heinous ignorance of it, starting with the idea that scientific truth cannot be merely assumed but instead needs to be substantiated.

This just isn’t a nice to have with science, it is what science is. We do not have to go into this in any depth and can just point out that none of the claims that Biden thinks is science have been scientifically validated, including and especially including the idea that mass quarantines convey any health benefits, which is actually an idea that science had previously debunked but is being brought back to life just like the Frankenstein monster was.

The real science is noticeably absent from Biden’s den, and among those who have been locked out and are banging on his window are the scientists who call themselves economists. Economists are the ones that are assigned the task of cost-benefit analyses, and it is therefore necessary to lock them out and ignore them if we are to so successfully ignore the consequences of subversive plans such as Biden’s.

Biden’s plan knows no limits on ridiculousness, as he tells us that on day 1 he will be implementing a plan based upon “restoring trust, credibility, and common purpose.” These are fine sounding words, but we need to take them and apply them to what Biden plans to do, and ask how we are supposed to trust someone who is so completely out of his mind, how his ideas can be seen as credible by those who do not share his delusions, and how a purpose of visiting such great additional harm upon us is a purpose we should ever even contemplate, let alone pursue.

Biden’s plan is rife with epic irony, as evidenced in his appeal to divert us away from what he sees as “the political theater and willful misinformation that has heightened confusion and discrimination.” We do stand with him in his opposing racial discrimination against Asian Americans who some have seen as to blame, and when you fall within Biden’s threshold of stupidity, this takes a very stupid act indeed, and this discrimination certainly qualifies as that.

We’re not exactly sure what he considers this alleged “willful misinformation” consists of, but from reading on, he seems to be pinning this on anyone who would question his plan, which is assumed by him to be completely appropriate and any other point of view, including people even wondering if it makes sense, is considered misinformation.

He spells out his plan to act on what he considers the right point of view to a nauseating degree, where we are to all come together for a common purpose, where the purpose cannot be anything other than to both choke us as much as possible and then to use the highest level of fiscal recklessness to pay for the costs that his wanting to choke us more involves. This is not bringing us together, as its real intention is to promote even more destruction on every level.

When this virus first broke, we were told that this has brought a crisis of existential proportions, and while this was a lie when it came to the health threat, it spoke the truth as far as the economic side goes, if we are to appoint Biden King and have him see these twisted delusions through.

Luckily for us, we don’t have kings in America, even though Biden may pretend otherwise. The President of the United States may be considered to be the most powerful person in the world by many, but even this great power has its limitations, and this plan of his goes well beyond it.

We should expect no less from him, a genuine madman that is seeking to rule us with his madness, although that does not mean that he won’t have the capacity to visit us with plenty more harm. His entire plan happens to all fall outside the scope of presidential power though, and although his party could indeed nuke us if they had control of all three branches, the Presidency, the House of Representatives, and the Senate, those who have even a bit of compassion for our economy and our ultimate welfare need to pray this does not happen.

Eric Baker

Editor, MarketReview.com

Eric has a deep understanding of what moves prices and how we can predict them to take advantage. He also understands why so many traders fail and how they may help themselves.

Contact Eric: eric@marketreview.com

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