What won't change

SOME THINGS WON’T CHANGE DESPITE THE ELECTION. 

Rs made hay out of the Inflation issue and crime issue, but frankly, what can a federal lawmaker do about crime? It’s a gang warfare and do idiot bail reforms. Police depantments have been defunded and officers let go.  Prosecutors are elected locally and they have been culprits in letting criminals walk.  And that will continue until people realize their problem and act on it in their area. 

            Likewise Ds made hay out of the abortion issue.  But realistically, what changes? Several states have no abortion clinics.  Even a national right to abortion won’t buy you one in those states.  Other states have numerous clinics and aren’t about to disallow abortions.  The Supremes have told everyone that Abortion Rights is not in the constitution and so it is a state’s issue.  Pass any sort of federal law about the right and it will be struck down by the Supremes. In real life practice, little changes with Dobbs. 

            Inflation won’t come under control for a number of years.  Bipartisan Congress passed $2T of relief in 2020. But then Biden added 3 bills of $1.9T,1.2T and .6T.  Plus the $.6T of normal gov’t deficit spending and another $1T from the Fed (remember they were still “tapering” purchase of bonds during 2021) The injection of $8T on top of money supply of $16T adds, over several years, almost 50% to the  amount of money in circulation.  That means roughly 50% inflation over a number of years. BUT that is true only if more stimulus isn’t added like Biden’s $500B debt forgiveness.  And then unions will strike wanting inflation added to their contracts in addition to the usual increases.  Now Congress can put their foot on the brake of spending as it occurs.

            Then too, prices go up, people cut back and that affects consumer spending which is 70% of the GDP.  This will bring Recession. All the talk of ‘soft landing” applies only to Fed raising interest to quell heated demand in normal times.  In Inflationary economies, we get stagflation—recession in the midst of rising prices. And what might tip off a recession soon?  Housing markets all around the world are crashing.  Prices are down 9% in Canada so far this year.  If a worldwide housing crunch takes place it will be like the one we had in USA 2007-2009.  Since the amount of buildings is 3 X the amount in stock markets, a housing crash is enormous, would draw USA in on it, and take a long recovery.

Meanwhile, smile about Oklahoma's R victories!