Staff Reports
Obamanomics, often recycled as Bidenomics, is a curious blend of economic sabotage wrapped in regulatory hardship and cash handouts that rarely fix the mess but instead throw a party for the bureaucratic elite. It’s like attempting to fix a flat tire by hammering it with a wrench while chanting about the quality of the rubber—pointless and potentially damaging. With just a few weeks left until voters decide if it’s time to hand the reins to the next Democratic visionary (or is it Kamalanomics now?), a glance toward China reveals the fruits of extreme governance and ambitious ideologies that threaten to swallow the entire economy whole.
Xi Jinping, the reigning strongman of China, has taken his own economy and shoved it down a rabbit hole of Communist control and draconian lockdowns. His heavy-handed measures during COVID sent consumers rushing to hide their money under their mattresses, breaking the spirit of entrepreneurship and driving innovation to an all-time low. It doesn’t take a seasoned economist to see that a socialist society punishing success is not a recipe for prosperity—much like what many believe is brewing here under the Democrats’ watch.
There are lessons from China to be learned before you vote. — WHAT’S THAT DEFINITION OF INSANITY AGAIN? Did #Democrats Take Control of China? #Obamanomics — bo https://t.co/NuodCtXrL0
— Stephen Waters (@sbwTweet) October 8, 2024
Recently, The New York Times reported that China’s economy appeared to be seeing a recovery, with a miraculous stock rally. Investors were initially excited at the prospect of a government shake-up aimed at revitalizing China’s flagging economy. Murmurs of stimulus had folks thinking about a resurgence. But that excitement was short-lived. As investors soon found out, it’s hard to muster enthusiasm when the government’s announcement resembles a lukewarm cup of coffee—disappointing and lacking any real buzz to fuel further investment.
Chinese investors, much like American taxpayers under those ever-expanding government programs, were left wanting. They had hoped for invigorating details on a plan to drive economic growth but were met with a tepid announcement that sparked more concern than comfort. This is akin to a junkie hoping for a fix only to find out the dealer has pulled just a couple of the promised hits from the table. The confusion and frustration have investors questioning not just the current moves but the general direction of the economy.
The underlying theme remains consistent across both continents—despite tricks such as slashing down payment requirements for housing and enticing hedge funds to gamble with taxpayer-backed cash, if the business environment remains hostile, growth cannot flourish. Reports have shown that Xi’s regime is tightening the noose even further on entrepreneurship, creating conditions that would prevent anyone from willing to launch a new business. It’s laughable: a glorious bubble in the already inflated real estate market, which will likely lead to yet another stimulus spree down the road.
It appears that, while the policies may differ in name and flavor, the stench of ineffectiveness and regulatory overreach is universal. China and the United States are spinning around a discredited economic dance that leaves them gasping for breath on a rollercoaster of debt and disappointment. As the world spirals into more economic chaos, one thing becomes dreadfully clear—both nations are losing, and the puppets on those strings do not have a clue how to cut them loose.
