Keeping in the holiday spirit, I want to bring joy and happiness to everyone. Since the markets are telling us that the pandemic is over, inflation is done and that soft landing we thought couldn’t happen, looks like it will.
Eh, not so fast skippy.
Yes, I have seen the emails saying I was so wrong about the Santa Claus rally I insisted may not happen this year. Markets have rallied nicely since I wrote that column and having been around the block a few times, I can honestly say, I am not buying any of this.
The Fed (who else are you going to talk about today anyway) will probably downshift a little from their trajectory and raise rate only 50 basis points. I am all for it at this point. I still think the Fed was at least 10 to 12 months behind this inflationary cycle but they have made up for lost ground fairly well. I still think their ultimate top will be over 5 1/2 percent but they may come a little later in the year as opposed to the first quarter.
The markets and the White House seem to be very enthusiastic about inflation moderating somewhat and it cracks me up when I see President Biden mumble through bragging about his policies “Bringing down that monster, inflation”. Your policies caused this inflationary cycle, didn’t see you taking credit for that aspect, did you? Or gas prices coming back down to last years price levels, which were up 40% from when you took office.
Harry Truman said “The buck stops here” and it does. The president should take the blame as well as he takes the credit for this economic roller coaster we have been on. OK, my detractors will say, “When did President Trump ever admit he was wrong or he had a failed policy?”. My answer is simple, never. Presidents typically don’t ever admit failed policies or when they do, they blame X,Y, and Z for what happened. The difference here is that when Trump had a setback, it was all over the news. The NYTimes devoted several reporters on a daily basis digging into misinformation from the White House. Every speech was dissected for truths and untruths and it was usually found on the first page of the National section. Yet, President Biden has repeatedly messed up, repeatedly given bad information, repeatedly failed at protecting the integrity of this nation’s borders and where is the New York Times or MSNBC or CNN? Looking for boogie men in Trump’s closet.
I know, I have riffed on this double standard too much and I should just accept the fact that our national media, the media that is supposed to look for the truth and look for justice, selectively does it’s job. It is just how it is and how it will always be. I just can’t help myself I guess.
I brought up the border situation specifically because it is apparently getting worse every day. The whole administration and every left leaning Democrat should be hung out to dry for not making any effort at all to work on this problem. I mentioned last week about spending money to fix the election process in this country, here is another place where time, effort and money should be used to secure our borders.
Let me reiterate, I believe in immigration. I just don’t believe in immigration by stampede. There needs to be a legitimate policy to deal with this influx of people. First thing, the border should be totally secure. Build a 30 foot wall with razor wire. Build a mote with alligators and moccasins. Light the whole border up with halogen lights and bring in the National Guard to patrol it. I don’t care anymore.
Funny, but this situation doesn’t directly impact me but I can see the writing on the wall as clearly as anyone else. It’s not good.
The Nation is being flooded with Fentanyl. Kids and young adults are dying at a rate higher than during the opioid crisis. This scourge isn’t being shipped in on speedboats in Miami or manufactured by some company based in Stamford. It is being manufactured in China, smuggled into Mexico and the cartels are using women and children to smuggle it across the border. They are using free trade between the US and Mexico as well. Something needs to be done.
Trust me, I do have a heart and I feel for the families that are trying to come to the United States and start a new life. This is how this country was born and transformed itself over the generations. Immigrants are the backbone of this country and I believe they still can be. I just think there has to be a strong National policy.
The Democrats want this free for all at the border because these are all potential voters. “Hey these Democrats want us hear let’s vote for them so we can stay”. If you think that isn’t on the minds of many politicians you are more naive than I thought.
Up until this year the Republicans have not had enough power in their corner to do anything about it but I do believe things will start changing next year as Congress gets back to work. If some effort is not made to try and find a workable solution to this problem, I am going to say this sadly, there really is no hope for proper governance until the Biden administration is ousted. Because, The buck stops there.
PETER, so right on my friend, it becomes a conundrum of “ mules” vs real expats attempting to find a new life in the good ole USA and work hard with jobs we cannot fill and pay taxes. To see the thousands at the border waiting to get in reflects how “ out to lunch” this administration, all of them are !