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America's Bankruptcy

America is Closer to Bankruptcy Than Most People Know

Release Date: 11/02/2021

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about America's Bankruptcy

January 25, 2021. If the Democrats had allowed regular folks to attend the inauguration, there would probably have been booing. This had no appeal to the Democrats, they filled the spaces with hundreds of thousands of flags, allowing only their supporters to witness the ceremony.

On his first day in office, President Biden canceled the Keystone XL pipeline, making the environmentalists happy, but keeping some ten thousand workers from good-paying jobs and giving Canada the cold shoulder.

Probably due to puppet-master Barack Obama, it won’t be long until Kamala Harris steps in as our President.

If and when China invades Taiwan, will Biden and Harris launch a defense? Our President Xiden is beholden to China as an important source of his boodle. Taiwan is only two hundred miles off China’s coast. By the time we get there, the invasion would long since be over. Resisting China is really not their thing.

Besides raising tax rates, here are some of the Biden/Harris policy plans:

  • End Right-to-Work Laws: Millions of workers will be forced to join unions, paying union dues whether they like it or not.
  • End America’s Energy Independence: They’ll ban the use of fossil fuels, probably by 2035. No thought of encouraging fracking, which produces natural gas very low on CO2. No thought of lifting unnecessary regulations on nuclear power plants that generate no CO2. No thought of capturing a tiny part of the sun’s energy with solar collectors in space and beaming the energy to earth. Exercising force on people is more fun. Better to ruin the economy by banning fossil fuels and hurting the poor the most.
  • Bailout deadbeat states like California, Illinois, New Jersey, and New York with $400 billion as a reward for their profligacy.
  • Increase the minimum wage to $15 an hour: This will put many small businesses out of business. It will force many employees to change from full-time to part-time work. The number of people who find jobs below the minimum wage will greatly outnumber those who benefit from the higher minimum wage.

Way to go, J & K. You’ll be doing your bit to make life harder for the poor.

President Clinton went overboard with socialism in his first two years, causing Congress to swing big time to Republicans. President Obama went overboard with socialism early on, causing another big Congressional swing toward conservativism. I expect President Biden & Vice President Harris to go overboard now. Hopefully, this will end socialism in Congress, starting in 2022.

In the meantime, there’s danger. The liberal elite includes not only Democrats and Republicans, but also the heads of large, technically competent corporations, and of course the media. If you don’t agree with them politically, they’re coming after you. You’ll be considered a white supremacist no matter what color you are. They’ll want you to shut your mouth and keep it closed. The social media, their enforcement goons, will cut you off. For more extreme measures, Black Lives Matter and Antifa may get the nod.

about this author

Archie Richards was born in New York City in 1936. He was a stockbroker and financial planner for some years.  He then wrote weekly newspaper columns, Richards on Money Matters, which were nationally syndicated. He also authored Understanding Exchange-Traded Funds, published by McGraw-Hill and still available on Amazon. Beginning at the end of 2016, Archie wrote brief libertarian columns about the American government, most of which were published as letters by the Concord (NH) Monitor. Those columns form the basis of this book. After starting work at a Boston bank in 1960, Archie read the Wall Street Journal and Boston Globe regularly. Having been educated by liberals at St. Paul’s School and Yale, he considered himself a liberal. Curious about the dynamics of public affairs, however, he cut out articles describing social or economic problems and placed them in a drawer. Several years later, he retrieved the numerous articles and read them again. It seemed obvious to him that most of the problems were caused by the government. Already opposed to the Vietnam War, he became a libertarian in 1968, although that term was then unknown to him. Archie is also a classical pianist. In 1973, a recording he’d made of a renown Beethoven sonata was played on Boston’s classical music station on a Sunday morning. Even in his eighties, he remains skilled enough to be paid for performances in retirement homes and senior centers in the Boston area.

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