Look, when things don’t turn out like you hoped, you have to be careful to take a breath and analyze carefully. I will summarize a few thoughts in separate posts. One thing people should understand is that the results mean the country will likely continue down its current path, which is not good, to put it mildly. I think people do not have any understanding of how bad the national debt is and what the effect of that will be. Our economy is in dreadful shape. We have to borrow money to pay the interest on our debt. We have no plan to reduce the deficit, which means our debt pile grows and grows. There is a limit to how much even of our debt investors will be willing to buy. They are demanding ever higher interest rates to compensate for the perceived increase in risk and inflation.
And we have no policies in place to produce robust real economic growth. Quite the contrary, our regulatory bureaucracy and anti-energy policies makes it impossible. We are just beginning to see the start of massive layoffs. Many of these will effect the young brainwashed college graduates who have had little experience of the real world during their whole lives and who can now go back to living in their parents’ bedrooms and watching TikTok videos. Will it be a dose of political reality? I doubt it. Inflation isn’t going away, economic growth is. We are in for a very rough time, with no prospect of improvement over the next two years.
And who is celebrating tonight? The Russians and Chinese, who actively work to keep Democrats in power because they can see the insanity of progressive policies. Russia is a screwed country no matter what, but interfering in our elections is cheap. The Chinese see us as their only impediment to being the dominant power in the world. The more we weaken our economy and military, the better for China. Our weakness endangers the whole world. Hard not to be glum, when the alternative could have been a clear change of direction that might serve to force the present administration to reconsider its lunacy. But, now we have to assume that we will continue our long descent into senescence.