Biden Flounders

Democratic Bloodbath at Nov. 2 Elections

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In-Brief

1. The Democrats, leftists, and advocates of wokeness suffered crushing defeats at Tuesday’s elections … in VA, NJ, and in most states, even in other liberal states.
2. The $1.2T bi-partisan physical infrastructure bill passed, but the $3.5T social infrastructure bill continue in trouble and is tied up in a battle between radical-progressives Ds and moderate Ds. The $3.5T social infrastructure/reconciliation bill will pass only if it is reduced to about $1.75T and maybe not even with that reduction. The internal battle among Democrats will determine if that bill passes.
3. The US southern border continues in chaos and is a humanitarian nightmare. It is being swarmed by tens of thousands of refugees from Haiti and over 100 other counties. Tens of thousands more Haitians and others are now working their way through Central America and Mexico.
4. The US economic recovery continues to be strong. Year over year growth looks likely to come in at about 5-6%. US labor shortages are widespread. Job growth in October was a very strong 531,000, well above expectations. Inflation spiked earlier in the summer and continues as a serious concern. The unemployment rate fell from 4.8% to 4.6%.
5. The Biden vaccine mandate, which is scheduled now to go into effect on January 4, could throw the entire US labor market into chaos, which in-turn could throw the US into recession. If tens of millions are fired or quit because of the vaccination mandates ordered by Biden we could face economic disaster. [On Saturday, the 5^th Circuit Court of Appeals temporarily stayed the mandate.]
6. Covid cases and deaths are now falling rapidly in the US but increasing again around the world. A new anti-Covid pill from Pfizer, which has shown great promise, may help end the pandemic.
7. China’s economic, financial, energy, and self-inflicted political problems continue.