Like last year’s ham handed evacuation of Afghanistan, it is just too easy to blame Joe Biden and his merry band of woke ne’er do wells for the stock market’s current situation.
The reality is that we have been on a twenty two year bender of unaccountable spending involving trillions and trillions of fiat dollars. This would include spending for meaningless wars, free stimmy checks for the bottom 80 percent of US households, tax cuts/credits/subsidies for everyone, generous government spending programs (a.k.a. Kickbacks, grift, vig, quid pro quo, etc.) for loyal friends and donors of congressional & administration members, climate change central planning fiascos, Big Pharma/Obamacare healthcare insurance “investments,” Covid mandates, bloated & incompetent federal bureaucracy, and zero accountability for anyone responsible for bad decision making.
What comes next will likely be painful for most of us. So be patient. We did not get here in a day or a month. It took decades of easy money and no accountability for this end of the world party. Getting fiscally sober again may take some time. Good luck, but do not sell the farm either.
TANSTAAFL
