Pro Perspectives 7/14/21

July 14, 2021

After a few weeks of theater on Capitol Hill, as the Biden administration acted as if they were seriously pursuing an infrastructure package that both parties would support, they have now revealed the extent of extravagance they will ram through Congress, with the power of a democrat controlled Senate (+ the VP) and House.

That number? $3.5 trillion.

But if that weren't obnoxious enough, they still want and expect to tack on the minimum package that Senate Republicans proposed back in May — another trillion dollars in the name of infrastructure.

As we know, this is not about covid relief. It's about transforming the economy and the country in the globalist vision.

That was clear at the G7 leaders meeting last month. The most powerful developed market countries are all-in on the climate and equality movement. While they told us last month that they would continue supporting the economy, they also told us that they will do so with the focus on “future growth,” not crisis response (in their words, you can read their communique here).

That's why the "response" has been far bigger than the damage (from the global healthcare crisis). It's about transformation, not relief. And that's why the administration keeps pouring gasoline on the fire.

The damage done: The U.S. economy contracted $2.2 trillion in 2020, from Q1 through Q2. In response, if you pile on the spending plans above, we're now looking at $9.1 trillion in deficit spending. Clearly that's more than enough to plug a $2.2 trillion gap.

That's why economic growth and prices are on fire.

Again, this is all about the global agenda of "building back better," not restoring the economy to growth. With that, not only do they not seem to care about inflation, they are intentionally inflating (i.e. devaluing money and devaluing debt). And the global powers are all-in. That's why there isn't a devaluation of currencies, relative to each other. There is a devaluation of currencies relative to the price of stuff. And it's far from over.

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