{"id":56666,"date":"2024-09-26T13:29:21","date_gmt":"2024-09-26T17:29:21","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=56666"},"modified":"2024-09-26T13:29:21","modified_gmt":"2024-09-26T17:29:21","slug":"the-cost-of-bidenomics","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=56666","title":{"rendered":"The Cost Of Bidenomics"},"content":{"rendered":"

On Monday, The Daily Signal<\/a> posted an article that provides some insight into the actual state of the American economy.<\/p>\n

The article reports:<\/p>\n

Small-business bankruptcies are up 61% on the year. It is a cackle-nomics miracle.<\/strong><\/p>\n

The data comes from bankruptcy analyst Epiq<\/a>, which reports that commercial filings for Chapter 11 bankruptcies soared to 4,553 so far this year.<\/strong><\/p>\n

Meanwhile, total corporate bankruptcies are also rising, hitting the highest since the COVID-19 pandemic, according to S&P Global Market Intelligence, which is hitting especially hard in retail, with a parade of chains going under this year, including Red Lobster and its beloved endless shrimp. Never forget what they have taken from us.<\/strong><\/p>\n

What\u2019s causing it? Simple: Inflation<\/a>, high interest costs, and COVID-19 loans.<\/strong><\/p>\n

Inflation, of course, drives up business costs to the point they have to hike prices, which chases consumers out.<\/strong><\/p>\n

High interest rates are well-known to strangle business. In fact, that\u2019s why the Fed does them, to strangle household spending enough that federal spending has inflation all to itself.<\/strong><\/p>\n

And then the COVID-19 loans: During the pandemic, the Small Business Administration pumped out 4 million loans\u2014worth about $380 billion\u2014in so-called economic-injury disaster loans. Note these were separate from the Paycheck Protection Program loans, where $800 billion were handed out to bribe voters into lockdowns.<\/strong><\/p>\n

While many of the PPP loans were fraudulent\u2014actually, most of them, according to NPR\u201496% of those loans were forgiven.<\/strong><\/p>\n

Incidentally, one gang member recently killed in a Baltimore shootout had, it turned out, an outstanding PPP loan for a nanotech company. Not a joke.<\/strong><\/p>\n

Thing is, those $380 billion in injury loans actually do have to be paid back.<\/strong><\/p>\n

And it turns out a lot of companies can\u2019t. Eighty percent are still outstanding\u2014$300 billion\u2014so, we\u2019re probably just seeing the tip of the injury-loan bankruptcies.<\/strong><\/p>\n

As Tim Walz stated at a recent Pennsylvania rally, “We<\/b> can’t<\/b> afford<\/b> four<\/b> more<\/b> years<\/b> of<\/b> this!”<\/b><\/span><\/p>\n

Please follow the link above for further details.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Monday, The Daily Signal posted an article that provides some insight into the actual state of the American economy. The article reports: Small-business bankruptcies are up 61% on the year. It is a cackle-nomics miracle. The data comes from … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[9804,1855,12609,14398,3428,2103,8123,5884,14381,1183,349,10397],"class_list":["post-56666","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-american-economy","tag-bankruptcy","tag-covid-19","tag-covid-19-pandemic","tag-economy","tag-federal-spending","tag-inflation","tag-interest-rate","tag-paycheck-protection-program","tag-small-business","tag-small-business-administration","tag-the-daily-signal"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/56666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56666"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/56666\/revisions"}],"predecessor-version":[{"id":56667,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/56666\/revisions\/56667"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}