Why The Biden Economy Will Fail.
By Rick Hayes
One doesn't require a crystal ball or magic formula to predict the disastrous fate that awaits America under President Biden's economic plans.
Awareness of reality and basic business sense will assuredly show anyone interested in the truth, the total systemic collapse that must occur.
Keep in mind the unbelievable human suffering happening right now in Texas because of a shortsighted reliance on untrustworthy renewable energy sources.
President Biden signed onto the proposals within the "Green New Deal" (GND) and has already accelerated those plans for shutting down oil and coal production.
The absolute misery the country will have to endure because of Biden's misguided actions will make the hell occurring in Texas read like a glowing success story.
It is an inescapable fact that Biden's aggressive renewable energy policy will cause current energy prices such as gas and electricity to rise sharply.
Specifically, the GND plan would include a $10 per gallon gas tax, making Americans' cost at the gas pump approximately $13 per gallon per the Institute for Energy Research. This tax is required under the GND so that electric cars can compete with vehicles run on gasoline.
Biden's position is that Americans will be forced to purchase electric vehicles because of the high gas prices. However, as gas prices rise, so will the overall costs to manufacturers shipping their products to market.
Transforming factories run on gas and electricity into ones run on renewable energy sources will be an astronomical expense. To stay in business, American companies will meet the rise in energy costs by raising the price of the products they sell.
As American producers and consumers' costs sharply rise, companies in China competing against America will enjoy an enormous advantage for the next eight years.
China will be able to undercut prices in the American market easily. The reason for this is that according to the Paris Climate Agreement, China does not have to increase its expenses to reducing its carbon dioxide emissions until after the year 2030.
So, Americans will see higher prices on everything they consume as China reaps the windfalls. Sadly, though, some Americans will also face the same fatal fate as those now in Texas.
At the same time that the American economy starts to come apart, Biden also plans to allow millions of illegal immigrants to compete against American minorities for American jobs. Unemployment will skyrocket in the minority communities just as energy prices soar.
The one bright spot, politically speaking, for Biden is that he will fulfill his promise to the Democrats on the far left and be portrayed by the media as a forward-thinking genius.
And although he would be correct when he stated that "America is heading into a dark winter." He forgot to mention that the dark winter is unnecessary, deadly, and would last for many years.