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30 Things Joe Biden Did as President You Might Have Missed
(www.politico.com)
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this post was submitted on 04 Feb 2024
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Ending inflation without starting a recession is probably the most impactful on this list.
A few years ago when Covid shut down the economy and the fed printed trillions to keep the whole system from collapsing, I would have bet anything that a major recession was just around the corner.
The ‘soft landing’ was one of the most significant challenges our country/the world has ever faced.
Obviously not completely attributable to Biden, but his leadership during this time allowed us to come out of Covid stronger than we were before it started. The whole world was at risk of the dollar collapsing and it was a super close call.
No one will ever remember it. That's what government should be like. Inflation was guaranteed, now we just need to see them start hitting companies for over charging. So step 1 is getting congress to write a bill saying over charging for a product is illegal. The question is how much is to much... So we will likely never get legislation. Maybe start with saying food cannot be resold at a cost higher than 3%. It will start bringing food costs down, and we can fix Desantis's stupid bill and change it from Chinese and make it so no one who does not live in the U.S. can buy multiple properties and companies cannot buy properties in residential areas. Then we might see housing stabilize or drop.
We are experiencing a lot of late stage capitalism issues.
With the increasingly valid excuse of uncertainty, mega corps ‘must’ make more money now because they don’t know what kind of economic hardships they will have to be prepared to endure in the future.
That risk is built into the cost of goods, and can’t easily be quantified, so a bill capping profit margins isn’t really feasible. And let’s not forget who really crafts legislation these days.
In my state, there is a limit to the number of liquor stores one person/corporation can own. They recently increased it from one to three. This law makes a lot more sense for housing than it does for liquor stores, but unfortunately there are too many billionaires with skin in the game.
A crash in housing prices comes with its own set of problems as well, so whatever changes are necessary, they should be taken slowly so as not to cause another collapse in the housing market. Home ownership is still the primary way for the average American family to develop any meaningful wealth, good or bad as that may be.
Whatever changes need to happen, they must be gradual and sustained over a long period of time. Massive and abrupt changes create instability which will have unanticipated consequences.
We want these mega corps to be like the proverbial frog in the boiling pot. Eventually, monopolistic and racketeering like practices could be diminished while millions are lifted out of poverty. If it is to happen, it will take time.
If I were a betting man, I would say that meaningful change is unlikely. Mega corps will continue to squeeze every penny out of the people, leaving us only enough to continue buying their shit. Bernie may have been able to do it, but sadly that ship has sailed.