According to investment banker Carol Roth, Joe Biden’s “bidenomics” is so bad it has become a U.S. security risk.
America needs a solid financial base that can serve to support an increase in military spending if needed for a real emergency and a petroleum reserve that can be relied on to keep us autonomous while we do it. But Roth says we are no longer there.
“Unfortunately, that is not the case today. The IMF has come out explicitly and reinforced what its analysis has shown implicitly for quite some time: the current financial position of the U.S. is unsustainable. This shouldn’t be a surprise, as this has been echoed by analysis from the Treasury, the CBO (Congressional Budget Office), and just about anyone not detached from reality,” Roth wrote on Oct. 18.
This shaky economy is a straight-up security threat.
“After exploring the already massive size of government another 40+% over the past four years, public debt to GDP is again at levels exceeding 120%. For context, the IMF and others have noted in the past that a sovereign balance sheet becomes unwieldy at around 70-80% debt to GDP,” Roth continued.
Roth noted that if an emerging nation was in the same shape as the U.S. is now, it would be thought to be in serious trouble with a currency crisis that would leave its national security in jeopardy.
And it is all on Biden.
“The ongoing conflicts around the globe are undoubtedly related to the perceived all-around weakness of the U.S. on the international stage,” Roth wrote. “The president projects weakness in his persona and actions, the latter ranging from releasing oil from our strategic reserves not for emergency purposes but for a political stunt in an effort to artificially, temporarily suppress prices, to loosening sanctions on Iran and providing them access just last month to another $6 billion in cash.”
“Not to mention that we have a completely porous southern border under the Biden administration that has let in millions of people, with no idea from where they have come or their intentions for being here,” Roth added.
“The perception of weakness from the U.S. is emboldening countries, including many of those aligned with the BRICS, to strike out on multiple fronts, from targeting the U.S. dollar as the world’s reserve and primary trading currency to fostering groups that want to wage war and commit violence,” Roth said.
This, Roth says, is a “financial dereliction of duty” on behalf of the Biden administration.
Roth pleads that those “in the positions to implement reform” should step up and do it. But the problem is, none of the things Roth worries about here is a “problem” as far as the Biden administration is concerned. It’s all a feature.
Biden has been so incompetent that we have to conclude that it is all part of the plan, not just incompetence.
Biden and his cohorts are planning to undermine the U.S.A. They don’t want to save it. They want to destroy it. And so far, they are succeeding.
Cross-posted with iPatriot