Interesting week so far. On the heels of a $1.9Tn Stimulus package the Biden Administration is talking about an infrastructure bill of another $2.25–3 Trillion dollars. Didn’t Everett Dirkson famously say, “A billion here, a billion there, soon you’re talking about real money?” I’m eager to see where it is actually allocated since many of our large spending projects in the past created technologies that drove innovation and jobs for years to come. If this infrastructure bill just creates temporary jobs fixing roads, we are certainly looking backwards rather than forward. I am eager to see what is in this beast, but don’t believe we should be printing this much cash when we have not even had the chance to feel the inflationary effects of the last stimulus package.
I’m sick of COVID but it must be discussed. Vaccine rollout has been OK (bad)in California(42nd out of 50 states), but we have almost 5 million doses sitting on shelves rather than in peoples arms, this is unacceptable. However, things are coming back to normal quickly and when we look at the bureaucratic mess in Europe, things could certainly be worse. Brexit is actually looking like a pretty good move for the Brits from this perspective, given the rest of Europe is being ravaged by the British strain of the virus, while much of the UK is vaccinated. It does concern me that we are giving chances to this bugger virus to mutate with slow distribution, so that is something the watch out for.
