President Biden’s Economic Errors Are Bad News For Stocks

This episode of What’s Ahead lays out the economic mistakes the new Administration is making that will hinder future growth—and will spell bad news for the stock market.

For example, the wording of the White House’s Executive Order strengthening Buy American provisions will end up raising manufacturing costs.

The war against the natural gas and oil industry will undermine a huge American asset: cheap and abundant energy. Making gas, heating oil and electricity artificially expensive will harm living standards.

Binge spending and big tax increases will lead to economic stagnation.

The Federal Reserve’s printing mammoth amounts of money will kindle a destructive inflation.

Once vaccines are finally administered, the economy will surge—but the boom will be short-lived. 

And stocks will take a hit.

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Steve Forbes is Chairman and Editor-in-Chief of Forbes Media. Steve’s newest project is the podcast “What’s Ahead,” where he engages the world’s top newsmakers,

Steve Forbes is Chairman and Editor-in-Chief of Forbes Media. Steve’s newest project is the podcast “What’s Ahead,” where he engages the world’s top newsmakers, politicians and pioneers in business and economics in honest conversations meant to challenge traditional conventions as well as featuring Steve’s signature views on the intersection of society, economic and policy. Steve helped create the recently released and highly acclaimed public television documentary, In Money We Trust?, which was produced under the auspices of Maryland Public television. The film was inspired by the book he co-authored, Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It. Steve’s latest book is Reviving America: How Repealing Obamacare, Replacing the Tax Code and Reforming The Fed will Restore Hope and Prosperity co-authored by Elizabeth Ames (McGraw-Hill Professional). Steve writes editorials for each issue of Forbes under the heading of “Fact and Comment.” A widely respected economic prognosticator, he is the only writer to have won the highly prestigious Crystal Owl Award four times. The prize was formerly given by U.S. Steel Corporation to the financial journalist whose economic forecasts for the coming year proved most accurate. In both 1996 and 2000, Steve campaigned vigorously for the Republican nomination for the Presidency. Key to his platform were a flat tax, medical savings accounts, a new Social Security system for working Americans, parental choice of schools for their children, term limits and a strong national defense. Steve continues to energetically promote this agenda.

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