As reported by The New York Times Magazine at the time, Joe Biden’s goal was to transform the economy from the get-go: “The Biden Team Wants to Transform the Economy. Really.” Nearly two-and-a-half years later, the damage and chaos of that transformation process are obvious: continuing high inflation (especially energy, food, and gasoline prices), rising interest rates, recession predictions, a stagnant economy, depleted individual savings, sky-high credit card debt, and other indications of stagflation and recession.
Who has benefited from the Biden economy? Green-New-Deal grifters benefit from the gargantuan tax subsidies and federal spending on transitioning the U.S. economy from hydrocarbon energy sources to “clean” sources, especially solar and wind energy.
The communist Chinese are happy to benefit from Biden’s economic policies, which ultimately mandate and subsidize green products from Chinese companies at the expense of the U.S. companies who produce and use hydrocarbons.
Let us examine the issue.
Bidenomics
The Biden economic plan was the reverse of the Trump plan—the latter emphasizing low inflation delivered through U.S. energy independence and moderate federal taxation and regulations. Biden entered office as the COVID-19 pandemic was ending, with the macroeconomic balance being “excess demand and low supply.” The demand was created by federal stimulus bills passed in 2020, including the $2.2 trillion CARES Act (March), the $483 billion Paycheck Protection Program and Health Care Enhancement Act (April), and the $920 billion Consolidated Appropriations Act (December). The pandemic itself created supply chain problems virtually across the board.
The Biden economic program was intended to capitalize on the unique circumstances (chaos and fear) created by the pandemic to implement a radical transformation of the U.S. economy. As noted here, Biden promised this during his 2020 campaign: “I truly think that if we do this right, we have an incredible opportunity to not just dig out of this crisis, but to fundamentally transform the country.”
Democrats in Congress subsequently passed and Biden signed a $1.9 trillion spending bill misnamed “The American Rescue Plan.” This bill increased demand while discouraging work through direct federal benefits to individuals (and dependence on government for income), continuing supply chain disruptions and supply shortages, drying up individual savings accounts while increasing credit card debt balances of average Americans, and resulting in the historic levels of inflation experienced in the United States in 2022.
Perhaps the most damaging elements of Biden’s economic plan involve efforts to transition the U.S. economy from hydrocarbon energy sources to “green and clean” sources such as wind and solar through federal regulations and subsidies under the Democrats’ proposed “Green New Deal.” Biden campaign promises (gaffes?) were a harbinger. From September 2019: “I guarantee we’re going to end fossil fuel.” Biden’s subsequent actions in office have included killing oil pipeline projects, refusing to grant oil leases, refusing to approve drilling permits, and limiting the ability of energy companies to obtain financing.
Biden’s Green Policies
Federal subsidies and federal regulations form the basis of the Biden green policies that underpin Bidenomics. Most of the federal funding for green projects was accomplished and sold politically under the guise of the $430 billion “Inflation Reduction Act,” which was passed along party lines in August 2022. The Washington Post let the cat out of the bag in April 2023 with this excerpt from an article: “Last year’s climate spending bill, called the Inflation Reduction Act, … ” So much for “reducing inflation”!
Regulations are a main weapon in the Biden administration’s arsenal in forcing the green transformation of the U.S. economy. Last August, Biden issued “Implementing Instructions for Executive Order 14057, Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability.” EO 14057 forces unsustainable green energy technologies into the federal government and, subsequently, throughout the U.S. economy that will lead to the displacement of all of America’s hydrocarbon energy sources under Biden’s “Federal Sustainability Plan.”
A key top-down regulatory effort consistent with that EO is to require corporations to adhere to so-called environmental, social, and governance (ESG) reporting requirements in their periodic financial disclosures to the U.S. Securities and Exchange Commission. In a press release last year, the SEC “proposed amendments to rules and reporting forms to promote consistent, comparable, and reliable information for investors concerning funds’ and advisers’ incorporation of ESG factors.” Companies would be forced to conform to left-wing environmental requirements for climate risk management plans, and noncompliance could result in fines and penalties in the future if/when these SEC guidelines are implemented.
In demonstrating a continuing commitment to implementing radical ESG compliance monitoring measures, Biden issued his very first veto on March 20, 2o23 to protect the ability of the federal government to monitor and regulate ESG mandates—“halting a Republican-led effort to overturn a federal rule allowing retirement plan advisers to take environmental, social and corporate governance (ESG) factors into account.”
EPA Regulations
A key regulatory effort to force Americans away from hydrocarbon energy sources has been the EPA’s ever-tightening rules that govern the emissions of power plants and vehicles. As reported by The Epoch Times on May 11, “the Environmental Protection Agency (EPA) unveiled its strictest-ever rules for power produced using natural gas, coal, and oil that could spur the use of carbon capture technologies … to induce U.S. power plants to boost their use of certain technologies, including the co-firing of fossil fuels with what it calls low-greenhouse gas (GHG) hydrogen and, in particular, the capture, sequestration, and storage of carbon.”
The EPA has also supported California’s new emission rules that will eliminate the use of diesel trucks over time. As reported by ABC News on March 31, the EPA’s decision “allows California to require truck manufacturers to sell an increasing number of zero-emission trucks over the next couple of decades. The rule applies to a wide range of trucks including box trucks, semitrailers and even large passenger pick-ups.”
Not Just the EPA
In jumping through Biden’s EO 14057 hoops, other federal agencies are pushing green fantasies, too.
In a Senate Appropriations Committee hearing on May 3, 2023, Sen. John Kennedy (R-La.) obtained from Deputy Energy Secretary David Turk an estimate of “trillions of dollars” required for implementing Biden’s carbon neutrality goals in the United States by 2050 (see video here).
In April 2022, the Dept of Energy effectively banned traditional light bulbs by arbitrarily changing rules on light bulb efficiency.
The U.S. Consumer Products Safety Commission proposed to ban gas stoves just last month, according to the Daily Caller.
Concluding Thoughts
Communist China is a key beneficiary of Bidenomics—particularly as relates to green technology exports—and U.S. policy won’t be changing anytime soon. U.S. Treasury Undersecretary for International Affairs, Jay Shambaugh, made the following statement in a recent Bloomberg interview: “The U.S. is not seeking to decouple from China. We’re not seeking to limit China’s growth. Those aren’t our strategic objectives.”
The Biden administration’s ongoing transformation of the U.S. economy into a green dystopia further incentivizes the importation of Chinese-made green technologies and adds to the U.S.-China trade deficit, since China is the world’s largest producer of electric vehicles, lithium batteries, and solar panels.
Article cross-posted from The Epoch Times.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
