The coronavirus took a heavy toll on the global economy in 2020. Wait, let me rephrase that. The exploitation of the coronavirus by tyrant dictator Democrat governors and mayors took a heavy toll on the global economy. Small businesses in the United States were shut down while leftist politicians’ good buddies who are billionaires that own giant leftist-run corporations, like Jeff Bezos who owns Amazon and the Washington Post, did just fine. In fact, Bezos said that because of coronavirus Amazon made an additional $70 Billion in 2020. The leftist tyrant dictators planned this to attack the funding of their opponents in the Republican Party, knowing that small business being the backbone of our economy are also the backbone of donations to GOP candidates. It’s sickening to even think about how diabolical the Left are, shutting down people’s livelihoods for political gains.
Math, which cannot be spun differently by Fake News, Democrats and liars (but I repeat myself) shows us that we are on a collision course with an economic meltdown that truth be told has been coming for some time, but has been exacerbated in recent decades. We are now $27 trillion in debt, and that isn’t counting the unfunded liabilities of pensions and benefits etc. that have been promised to people for votes over the years that totals more than $300 trillion at the moment. Let’s forget about that last one for a bit and focus on the fact that our economy does not make $27 trillion in any given year, even under the Trump economy, the greatest economy of our history as Americans. There is no way we can ever pay that money back, if things don’t change radically.
Think about it this way. If you are in debt for say $100,000 for a loan that you took out years ago and you just can’t get yourself out from under it, the only way to knock out that loan is to bring in more money in order to be able to pay it off. If you’re in business, the way you do that is you produce more stuff to sell. If you are an individual who has that kind of burden then the only way out of it is to either cut back on your current spending and put the money you didn’t spend into paying off the loan, or you go out and get another job or some other way to earn more income. Math says that there was no other way out of it responsibly. In the end, you must create more growth in your income.
Right now, the politicians in Washington, DC just showed us by abandoning President Donald Trump on the coronavirus stimulus relief package that they just aren’t interested in getting serious about the spending problem. We already know that the Democrats are driving us off of a cliff going a hundred miles per hour, but now we see that even the Republicans in Congress, who are normally more fiscally responsible than the Democrats, are driving us off the financial cliff at around fifty-five miles per hour. Both parties are driving us off the cliff, just at different speeds. That’s how it’s really been for decades, only now we have a problem where we are reaching the critical point of no return, a point where if we keep the insane spending habits like a $2.3 trillion stimulus bill that pays out $25 million for gender training in Pakistan and $25 million to combat Asian carp while Americans have been forced into poverty by dictator tyrants locking them down.
And not one of the politicians in the swamp has ever asked me if I mind that they are spending this kind of money that they demand I pay back in ever-increasing taxes. It’s ludicrous.
However, there is a possible way out. Remember, I said you have to produce more stuff in order to earn enough to get us out of this kind of debt. It will be a long shot, because I have zero, actually less than zero, faith in DC politicians doing the right thing, but maybe the private sector can do their jobs for them instead by producing more stuff.
So, how will the private sector get us out of the economic mess we have allowed our elected officials to get us into? We are right now on the cuff of technological advances that, if government gets the hell out of the way, could create an explosion of productivity growth.
Productivity is the engine for any economy. Productivity is what Democrats and RINOs leech from to pay for their socialistic programs, but nevertheless, the amount of productivity we’re talking about here could overcome the parasites from the DC swamp to be good for everyone.
We can escape the economic doom by the AI revolution and other technology revolutions we are now entering. Advances in AI language generation and an mRNA vaccine production, along with leaps in the production of solar power that really works are just a few of the things that will generate a new economy to merge with the existing one.
One of the biggest problems we’ve had with the green movement like a AOC’s Green New Deal, is that they wanted to completely replace the fossil fuel industry and our current economic system that we have now with their stupid green ideas. I’m not saying that green is a stupid idea, I’m saying that AOC’s green ideas are stupid, just to be clear.
In reality, both engines of productivity could simultaneously exist and enhance one another.
There are so many technological breakthroughs that are being realized right now that the productivity coming from just the industries being created from the breakthroughs could get us out of the economic mess we’re in.
According to economist Tyler Cowen, looked at affordable solar power and remote work and asked if total factor productivity (TFP), which is a best guess of the effect that strategic progress with technology has on economic productivity and believes that 2021 “will be remarkably high, maybe the highest ever?” Yeah, just in time for the Democrats to take credit and claim it had nothing to do with Trump’s economy exploding, thus giving industries the capital to be able to create the new technologies, that’s what Democrats always do before they screw everything up in the end. Read more from Cowen here. Just as an FYI, Cowen is the guy who wrote the book, “The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better,” where he discusses the slowdown of wage and productivity growth even during the Internet age that changed every way we live our lives from the past.
If government stays the hell out of its way, we could look back on 2020, the armpit of calendar years, as the launchpad for an era of increased productivity. Like any industry the short term can be painful and costly to invest in new technology, but after that period, when growth kicks in, the sky’s the limit. With the technological advances we’re right on the cusp of experiencing, there could be an exponential growth in the coming years to call this decade another Roaring Twenties.
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But all of this excitement for the future of our economy is balanced by the need for our government to not get their greedy little hands on it, to let it grow without trying to leech off the benefits right away. Remember when the Internet first became a thing and the Republicans in Congress back in the 1990s made sales on the Net tax-free for the first ten years? They did that because they knew government leeching off those sales would have never allowed the Internet to catch on and get off the ground. And even then the Democrats within the first year started barking about the need to break their promise of tax-free sales online, because of greed. Thank God they weren’t in charge then. But right now, if God forbid Joe Biden does win the White House, and God forbid the Democrats take over both houses of Congress, based on their usual modus operandi behavior, they will screw everything up with greed for money and power, and we will lose the shot we have at producing more stuff to get us out of the debt we now face, and out economy will soon collapse. That frightening scenario is very real and it depends on how much we as a free people will allow our elected representatives to screw us out of a potentially good future. Our future is up to us.
Rich is a conservative syndicated opinion writer and runs Maga-Chat.com. He writes about politics, culture, liberty, and faith.
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