Saturday, July 29, 2023

Bidenomics: Trickle Up as Poverty Takes the Middle Class By Helena Glass

The News Media are going ballistic today on how great the US economy is fairing under the Bidenomics plan of trickling up.   For the record, trickle up would indicate that the poverty is expanding upward and gaining momentum.

“Strong GDP is being bolstered by a boom in factory construction and investment stemming from huge pieces of subsidy- and tax credit-heavy legislation…” ~ The Hill.

  1. Taiwan is building two semiconductor plants in the US at a cost of $40 billion – subsidized by US Taxpayers.
  2. Intel is building a semiconductor plant in Ohio subsidized by US Taxpayers
  3. Samsung, a Korean company, is building a semiconductor plant in Texas – subsidized
  4. Abbott is building a nutritional powder factory in Ohio. Crickets? – subsidized
  5. Siemens, a German Company is building and EV Charger plant in Texas – subsidized
  6. Italy’s Enel will build a solar cell and panel factory – somewhere, sometime, undisclosed.

The demographics of all these companies is interesting roughly 70% male – all democrats – 15% Asian and 15% Hispanic.   How and why are these foreign companies suddenly so interested in building factories in the US?   It is all FREE!

  • The Inflation Reduction Act.   The Act provides $369bn of tax credits for clean technologies,
  • The Chips and Science Act allocates $39bn in funds for semiconductor manufacturing, and an additional $24bn of manufacturing tax credits.

The Bureau of Economic Analysis was founded in 1972, after being lost forever, it is tasked with estimating the variations in GDP.   In addition, their formulas determine which states get how much in federal funding.   Yesterday they released their estimate of US GDP growth with a revised upward outlook of 2.4%!   WOW Bidenomics is working! The US stock market has been heavily gaining – and all the Kings men…

The first caveat the BEA website states is the 2.4% figure is an ‘advance estimate’ – the real estimate will be released on pinpoint day – August 30.   The second caveat is the entire guesstimate is based on ‘spending’.   This would indicate that the cost of spending has increased – as in everything is more expensive.   What it does not measure is reality.

Exports were down – housing investment was down, imports and consumer spending were up and drove most of the GDP.

Consumer Spending was led by housing (rent increases) and utilities (air conditioning); health care (everyone is getting cancer from the vax); financial services (they changed the inheritance and estate tax) insurance (rates went up 35%); and transportation services(airline tickets double).

Consumer Goods also tracked higher led by recreational goods (RV’s and toys for summer) vehicles (price gouge) as well as gasoline and other energy goods (all inflated).

Imports reflect a rising Euro to a falling dollar and lack of exports indicate US manufacturing is tanking.

According to these government interpreters of truth;   the ‘price’ of goods and services increased 3.8% in the 1st quarter and an additional 1.9% in the second quarter.   Obviously the algorithm is operating in a parallel universe.

I sought to find out how this Bureau measures their analysis so I visited the data detail page Gross Output By Industry – and the last update was 2021.   Not a good sign.

Searching Trade figures – the last update was 2022 wherein the balance with Canada  tanked – having surpassed any point in history.   In fact, our balance of trade with just about every country has tanked.

Other Release Information by BEA includes:

  • US International Investment – Assets $34.72 trillion on Liabilities of $49.49 trillion for a negative Equity of $16.17 trillion.
  • New Foreign Direct Investment in US – 2021 $362.6 vs 2022 $177.5, down $185.1

It appears the Federal Government desperately needs a catastrophic event to wipe out reality. The three top picks so far include:   A UFO Report revealing aliens have crash landed on earth.   A war with China.   A Climate Pandemic Lockdown.

It Also Appears The Media is languishing in Disinformation Propaganda Once Again.

Reprinted with permission from Helena-The Nationalist Voice.

Copyright © Helena-The Nationalist Voice