The Best of Reason: The Bankruptcy of Bidenomics

Biden's economic policies gave us three years of excessive, wasteful, and poorly targeted federal spending.

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The Best of Reason: The Bankruptcy of Bidenomics

This week's featured article is "The Bankruptcy of Bidenomics" by Peter Suderman.

This audio was generated using AI trained on the voice of Katherine Mangu-Ward.

Music credits: "Deep in Thought" by CTRL and "Sunsettling" by Man with Roses

Comments

[Mother's Lament]

So sorry this is happening to you Buttplug. Thoughts and prayers.

[Sandra (formerly OBL)]

Rig count!
Taylor Swift Concert Profitability Index (TSCPI)!

#DefendBidenAtAllCosts

[Sevo]

turd is going to be notably absent here. turd lies; it's what turd does.

[Á àß äẞç ãþÇđ âÞ¢Đæ ǎB€Ðëf ảhf]

Let me get this straight. Suderman writes an article, a KMW-trained AI reads it, and that generates a new article?

Get back to me when I can get a transcript so I can compare it to the original to see what changed.

[JesseAz]

Sounds a bit like Bill Kristol.

[defaultdotxbe]

I'm sure they'll publish the transcript as a third article.

[CE]

And add multiple links to their own articles in other articles.

[CE]

Looks like someone got the DNC memo that Biden needs to be replaced....

[Commenter_XY]

Let’s think about 2022 for a moment, from the perspective of a retiree. Well for the 60/40 investor (60% equities, 40% bonds), it was atrocious. The US bond market (treasuries) experienced the largest decline in American history, going back all the way to the late 1700’s. Pair that with an atrocious stock market return AND elevated inflation and something very bad happened; real returns (meaning, returns after inflation) were in the neighborhood of -20% to -25%.

I don’t think people appreciate the magnitude of the impact of a real return of -20% to -25%. It will take many years to recover from that. Some cannot, because they don’t have enough time.

People who are retired know this. People within 5 years of retirement are just starting to figure that one out. What we saw in 2022 was a permanent ‘sea level’ decline to portfolios and their survivability over a 30-year period for anyone retired, or close to it.

For people who retired in 2021-2022, they are in some deep shit. Their portfolios experienced an early significant decline. This is disastrous to portfolio survivability over the long term. Their withdrawal rates are permanently lower, their quality of life diminished.

That is what retirees and potential retirees can thank POTUS Biden for.

“Never underestimate Joe’s ability to fuck things up” – Barack Obama

Truer words never spoken.