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August 18, 2022

Biden’s anti-business White House will push us into recession

Liz Peek Articles

America’s CEOs are in the dumps. According to a new Conference Board survey, CEO sentiment has plunged to 34, down from 42 in the second quarter and 57 in the first three months of the year.

Early in Joe Biden’s presidency, when businesses were still celebrating the exit of the unpredictable Donald Trump, COVID-19 seemed to be waning and before Democrats’ spending spree unleashed widespread inflation, the index hit an all-time high of 82.

The recent reading is approaching the extreme pessimism that characterized the Great Recession in 2008-2009, when Barack Obama was in the White House.

Who can blame our business leaders? The economy is weakening, the Federal Reserve is raising interest rates and ideologues in the Biden White House are pummeling our nation’s industries, changing the rules and picking winners and losers. Oh — and also raising taxes.

As our country hovers on the brink of recession, the last thing we need is a White House undermining business confidence, but that’s what we have.

The White House is not only punishing ventures that stand in the way of its green new world, like oil and gas companies. The Biden administration is also in thrall to Big Labor; the National Labor Relations Board (NLRB) is pushing unionization across the nation, even if it means bending the rules.

In addition, the Federal Trade Commission (FTC) is aggressively blocking mergers and acquisitions, key to some firms’ futures, while the Securities and Exchange Commission (SEC) is muscling investment capital to favored sectors, supercharging workplace diversity mandates and demanding public disclosures from private corporations.

When Biden issued executive orders mandating an “all of government approach” to solving climate change or racial inequity, few imagined the degree to which federal agencies would be enlisted to pursue those ambitions.

Biden’s advisers, mainly academics and activists without much real-world experience, think they know better how to manage the country’s investments and businesses than the people who created them. The laughably titled Inflation Reduction Act included a 1 percent tax on stock buybacks because Democrats needed revenues to fund their climate fantasies, but also because progressives such as Sen. Elizabeth Warren (D-Mass.) dislike that particular use of excess capital, even if it rewards shareholders.

The White House is abusing friends and foes alike.

When Starbucks, a famously liberal firm, accuses the NLRB of illegally interfering in union votes, something is very wrong. Starbucks’s management and employees have been generous donors to Democratic causes and candidates. But here they are, reporting that NLRB agents manipulated the voting process to help Workers United win elections and then collaborated to hide the misdeeds.

Starbucks is not the only left-leaning firm complaining about Biden’s kowtowing to Big Labor. Following a successful union drive at a Staten Island facility, Jeff Bezos’s Amazon accused the NLRB of “inappropriate and undue influence” in the voting process. That followed President Biden personally encouraging a unionization effort at an Amazon facility in Alabama; that drive failed, so the NLRB ordered a second vote.

It isn’t just the NLRB that appears out of control. The FTC is prohibiting business combinations, and not just by Big Tech. Just recently, the FTC stunned industry observers by suing to prohibit Meta’s acquisition of a small virtual reality company. Venture capitalists registered concern that the FTC would, through such actions, undermine a key growth strategy for Big Tech firms such as Meta.

This follows the FTC blocking chipmaker Nvidia from buying Arm, which licenses chip technology used in most smartphones, and Lockheed Martin’s attempt to purchase rocket manufacturer Aerodyne.

Elsewhere, the SEC is mounting a rearguard action to direct investment funds away from fossil fuels and towards green energy.

These super-charged agencies are delivering on Biden’s priorities — combatting climate change, boosting organized labor and reining in what the president describes as the monopoly power of concentrated industries, which he disingenuously blames for inflation. It is the small number of firms in the shipping and meatpacking industries, Biden claims, that is driving prices higher, not his party’s reckless spending.

Of course, Democrats are also raising taxes on big corporations, which do not, according to Biden, pay their “fair share.” In reality, America’s businesses pay the taxes designed by Congress and take advantage of deductions created to spur investment and to promote other priorities. No wonder the C-suite is feeling dismal.

Why should you care? Because the hiring and investment decisions made by company leaders will determine whether we fall into recession and how severe the downturn is. Right now, the prospects are getting gloomier.

Some 93 percent of CEOs in the Conference Board’s survey think we will be in either a shallow recession (81 percent) in the next 12-18 months or a deep downturn (12 percent).

In response, only half the CEOs expect to hire more workers over the next year, down from 63 percent last quarter. In addition, a hefty 82 percent of CEOs expect their capital budgets to increase or remain the same over the twelve months, but that was down from 93 percent just three months ago.

All of this reminds us of the Obama presidency, which clobbered businesses big and small with reams of new regulations, only to see CEO confidence wane and economic growth slow. It’s not rocket science. Investment and hiring boosts growth; when you create roadblocks to prosperity, the people responsible for taking risks and making those decisions will hesitate, and the economy will stumble.
America’s rebound from the Great Recession was the slowest on record. Many of us at the time blamed the interfering Obama White House for impeding our snap-back. Joe Biden looks to be following the same path.

No wonder our CEOs are in the dumps.

Biden’s anti-business White House will push us into recession

Published on The Hill

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Liz Peek

2 years ago

Liz Peek

Are you better off than you were 2 years ago?
www.foxnews.com/opinion/inflation-hurting-americans-biden-bill-worse-liz-peek
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Inflation already hurting Americans, and Biden's Build Back Better will make things even worse

Are you better off than you were two years ago? That’s what Republicans will ask voters a year from now.

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Inflation is worldwide and COVID induced.

No Trump, No Trump Doctrine

There's a growing rumble, by the minute, from people all over the planet who are suddenly missing Trump's policies, not necessarily Trump.

First, Trump's policies, domestic and foreign, were clear and common-sense driven which is anathema to the Swamp control freaks who thrive on complication and confusion to mask their real agendas and who they're really working for.

Second, the hypocrites who are now lamenting Trump's policies are the same, domestic and foreign, who fought Trump every inch of the way to prevent the implementation of policies that clearly worked.

Third, without Trump the fighter, no Trump policies would have ever seen the light of day.

And without what is now collectively the Trump Doctrine, what clear metric would we have to truly understand the depth and devastation of the Biden/Swamp debacle?

Don't you know that the global supply chain story is done on purpose for there to be empty shelves at the grocery stores and what not to screw with the public. This is done by the world economic Forum with the likes of Klaus Schwab Bill Gates and George Soros and their ilk

YOU are the delusional personality, dear. Sticking it against the US to please 🖕trump and putin. Disgusting anti American.

Nope

Maybe Liz you would support some immigration reform , you bitch about not having enough servers in your entitled selfish world , oh and you are against mask wearing too , how trumpian of you, the pandemic is all a hoax to you , just dont get sick out there might not be any hospital beds for you . The drs and nurses are sick and tired of taking care of anti mask anti vax selfish repubs Go claim your Darwin Award .

Stupid doesn't describe Liz Peek well enough. No one knows who you are so whenever you troll your way onto some useless FOX program, you utter absurd TDS infected nonsense. Stay smart Mensa. I will never have you on my radio talk show.

how soon some forget. after herschel loses- PRES TRUMP got these jobs done- cheap gas. no soldier deaths the last 18 months of afghan when he was in office. He cut taxes. the largest in America's history. cut regulations. got us out of the Iran deal. put the american embassy in jerusalem. took it to the terrorists. such as soleimani, and al-baghdadi. built the wall on our southern border on 350 miles of our southern border. REAL MEDIAN household income grew to $68,703 in 2019, an impressive 6.8% increase over 2018. While the overall growth rate was 6.8%, real median income grew by an even greater 7.9% for Black Americans, 7.1% for Hispanic Americans, and 10.6% for Asian Americans. All record highs as were the new income levels for each of these groups. Joe's handlers are heading us to the "misery index" purposely. Did I say cheap gas? Please list for me what Joe's handlers have done for you? be the first to answer my question. LOL

TRUMP VS THE GLOBALIST MURDOCH MEDIA EMPIRE

This has been brewing from the day Trump became president and refused to tow the line for the Murdochs or anybody else in the Swamp Establishment, comprised of RINOS, the Democratic Party, their globalist masters and media propagandists all rolled into one.

And it's been a non-stop, phony, six-year witch hunt ever since.

What's breaking out across media land is the central battle between the self-serving globalist crowd who want to rule the world as their personal piggy bank and their greatest obstacle: a strong, independent, self-sustaining American Middle Class of all stripes and creeds – in the majority – that made this country great and will not be told how to think, how to live their lives, raise their families or certainly how to vote.

The big threat here is Trump's policies that worked for and empowered the American people, not the Swamp full of special interests. Not to mention the eye-opening example Trump's successful policies set for people around the world who are needlessly suffering under globalist rule.

We became known as the land of the free for hard-earned reasons.

Now the globalists want to drag us back to the good old feudal days of serfdom where we get to labor for their great benefit while with our heads bowed we are given the privilege of eking out basic subsistence for ourselves and our families.

The Murdochs have launched in unison their media troops/mouthpieces in a full frontal assault. Some who have been chomping at the bit, others, it appears, reluctantly. With big paychecks hanging in the balance, it'll be interesting to see who, if anybody, breaks ranks.

DeSantis has done a great job as governor of Florida, has great potential and to his credit has followed Trump's lead in revolutionizing the Republican Party as the party of the people.

But there's no appeasing the Swamp globalists. The billionaire class is impatient. They are solely focused on creating the trillionaire class and will not be denied.

As push is now coming to shove, DeSantis will have to clearly pick a side. There's no middle ground here.

You either work for the globalists and follow orders or you work for the people. If DeSantis sides with the people, in a nanosecond the globalists and their minions will turn on him with the exact same tactics they've been using on Trump for the past six years.

So, finally, it's on, out in the open for all to see. And long overdue.

The stakes could not be higher.

President Trump lost the election you are such a dummy he got over 95 million the other yo-yo got about 45 million the rest was fake you're a disgrace. Www.magapill.com

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Liz Peek

2 years ago

Liz Peek

Progressives got hammered on Election Day- but that was only the latest big defeat. What does this mean for Dems? Can Joe pivot? (spoiler-probably not)
www.foxnews.com/opinion/progressive-drubbing-biden-pivot-changing-guard-liz-peek
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Liz Peek: Progressives' drubbing opens door to (unlikely) Biden pivot, changing of the guard

They may not know it yet, but the ultra-liberal cabal that has choked Democrat politics and humiliated spineless party leaders like House Speaker Nancy Pelosi, D-Calif., has lost its mojo.

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Liz have you not heard latest on the “russia collusion” “steele dossier” Fiona Hill???
Or are you a typical msm reporter?

President Trump lost the election you are such a dummy he got over 95 million the other yo-yo got about 45 million the rest was fake you're a disgrace. Www.magapill.com

Liz Peek

2 years ago

Liz Peek

Joe Biden wanted to be an historic president- and he has done that. Worst ratings slide of any president since WWII.
He (or whoever is running WH) doesn’t care about voters’ top issues – instead Team Biden obsessing about climate change, gender and race.
No wonder he’s in trouble!
www.foxnews.com/opinion/biden-polls-ignoring-voter-concerns-liz-peek
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Liz Peek: Biden vs. Americans – his priorities, like climate change, ignore top worries of most voters

Voters are worried about inflation, jobs, crime, education and our open border, while the Biden White House is laser-focused on climate change, transgender rights, racism and reducing inequality.

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The great days turned to very bad days in less than a year.
Congress needs a flip to GOP next year to stop the craziness

Climate change is important.
The GOP may not care about it now, but their children will.
He is trying to get an infrastructure bill through.
He has had issues with Afghanistan, but what else could he do
The people who are taking over Afghanistan were released by the previous administration.
I am sure that Biden is not perfect but he is better than Trump.

Your bias is ridiculous. Makes you a bad writer. Btw avg teacher pay is way above 31000. Sensationalize much?

www.facebook.com/1218170708/posts/10226625535324074/

Liz.

Duuuuuh President Trump lost the election you are such a dummy he got over 95 million the other yo-yo got about 45 million the rest was fake you're a disgrace. Www.magapill.com

worst ratings only from a side thats ignorant to the truth. the effects of coming off a pandemic with oil companies profitting off the pumps in order to pay their shareholders back from profits lost. inflation effects the entire world but of course your base doesnt pull their heads out their asses for one second to look around and use common sense. keep spreading bullshit and weakening our country til it no longer functions as a democracy….bc i see through your fake Christian patriotic pow wows. you are the opposite of ehat you claim and you are the definition of what you claim your rivals are. deflection, projection, hypocrisy. 3 words that sum you up

#LetsGoBrandon

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