No Biden Economic Miracle Ahead.

Don't get me wrong, I'm way beyond thrilled that Trump was politically dispatched in this election. In fact, I quite literally thank God for that. 

But I'm certainly not expecting an economic miracle in the wake of Biden being sworn in as President of the United States.

I find myself of two minds on this: I favour increased federal government spending on those who've lost everything: businesses, homes, cars, savings and even their ability not to experience food insecurity. So, I welcome the incoming president who will reveal in office that he actually has a heart and sincere empathy for those presently in dire need.

However, the other part of me worries they're not biting the bullet and not taking our bad economic medicine in due course will only prolong and artificially accentuate the economic misery. 

In other words, the actual depression will be far longer and far more cruel, in individual terms, because of The Fed sugar high that quite deliberately keeps zombie companies afloat that should have long gone under, even before the onset of this pandemic. 

This is primarily about economic mitigation on the margins. It is absolutely not about true economic reforms as it relates to fiscal policy or the carte blanche left long ago by Bill Clinton to the financial services industry. They are all about Yes We Can, and they sure have to the economic detriment of the United States. All they care about is making money and spectacularly so, by the derivative poison pill, and quite deliberate rigging of the precious metals market, the commodities market generally and conversely, the artificial propping up of crude oil.

They are, for all intents and purposes criminal banksters with little to no corporate or personal accountability. In short, peanut fines come their way roughly one-tenth of what they make using their criminal strategies and surprise, surprise, no one goes to jail at the very top of these disreputable institutions, just like in 2008.

Governments, be they Republican or Democrat remain the willing handmaidens of the financial services industry. In short, they do their biding and that won't change even with Biden in the White House.

Crony-capitalism will continue to rule the roost as countless millions suffer in their wake. The revolving door from Wall Street into Treasury will also continue, much to the disadvantage of the American people. 

In fact, a new incoming administration changes precisely nothing with the Wall Street vampires continuing to call the tune.

No wonder they remain all smiles over at The Fed. Their corporate masters will still be running the show. Cry America, cry.