What happens if Biden wins the presidency? Let’s think about the situation. For the first 3 years of Trump’s presidency, the stock market was rising and the economy was growing. This masks many of the factors driving a sense of hopelessness in the country. Many Americans and the nation itself have unpayable debt.
Related: WHY would we hand over our kids to be educated by those that DON’T WANT TO BE THERE
This year, 2020 has been the year of the virus. Our government sprang into action. The government is flooding the economy with money. The money is from borrowing and governmental printing. This action does nothing for the virus but it has dramatically increased the public debt. It also makes the already precarious debt situation worse.
It has brought the notion of a Debt Jubilee into the mainstream. The Biden camp is buying into Modern Monetary Theory (MMT). A debt jubilee is going to happen a lot sooner than people are thinking. Historically, debt jubilees occur in a unique, extreme political environment.
Enter Robin Hood
In a Jubilee, the government essentially steals money from one group and hands it to another. In order for this to occur, four elements must be in place. The wealth gap must be getting dramatically larger. There must be cultural threats from perceived “outsiders” with different values. The government must be ineffective at providing solutions. And there must be growing anger toward the “elites.” Is anything starting to ring any bells?
Both political parties are running on populism. That’s a phenomenon that emerges when the conditions are right. Populist movements are characterized by anger at the government. The anger spills over to the wealthy, the establishments, and newcomers and minorities.
We are seeing a dramatic increase in violence across the country. Both violence and hate crimes around the country are rising. The hatred and anger are unlike anything witnessed since the Civil War. It’s coming from all sides. The political and social environment in America today is toxic. We are in a populist period in America. So, what happens if Biden wins the presidency?