Today, The Two Mikes, discussed the current economic status of the United States with Dan Perkins, a man who has been in the investment business for more than 50 years.
Mr. Perkins believes that America’s economic problems are far from over, especially in terms of food availability, inflation, the collapse of the housing market, a truck transportation system running out of diesel fuel, unemployment, and the coming shortages of heating fuel.
The diesel shortage appears to be particularly dire as the nation’s diesel reserve stands at about one million barrels, or about a five-hours supply for the country’s over-the-road trucking industry.
Mr. Perkins also said that Biden’s administration is misleading the American people when it claims that inflation is beginning to slow; it always takes far longer to get out of an inflationary period than it does to get into it.
Mr. Perkins also expects that NATO members in Europe will, before long, come to Biden and demand that he provide all the fuel that is necessary to keep all NATO bases in Europe operating. Biden knows that he has nearly drained the nation’s strategic energy reserves — though he is still allowing the export of oil and liquified natural gas to China and elsewhere — but he will supply the NATO bases at the cost of supplies for American citizens.
Next in the beggar line from Europe will come the EU’s leaders because they deliberately arranged to freeze their citizens this winter by stopping the purchase of Russian energy. Again, Biden will likely agree to help the EU countries, even at the cost of his countrymen.
