How to Turn a 401K into a 101K  In One Easy lesson

Maybe the answer to that headline would be by following the Joe Biden playbook as president?  Since Joe Biden was sworn in, it has been economically downhill for our economy and the future prospects is that it is going to go even lower.

Many people have been saving for their retirement, over the booming Trump years, by investing in their 401K plans and other retirement plans tied to the stock market.  Well, in just 1 ½ years, the value of those retirement plans have been alarmingly reduced due to the anti-business policies and the incompetence of Joe Biden and members of his equally incompetent staff around him.

From day one, after his inauguration, Joe Biden reversed most all of the policies of his predecessor, Donald Trump.  Love him, hate him or loathe him, Donald Trump had the economy reaching new highs in employment, the stock market, and consumer confidence.  Then along came the China pandemic and the vicious anti-Trump campaign by the Democrats, the media, and high tech companies to try to unseat him.  They succeeded in replacing Trump with a cognitively challenged Joe Biden, and then they implemented their disastrous Marxist/Socialist policies which we are saddled with today.

Biden ran with diversity, race, gender, sexual orientation in choosing his cabinet, aides, and economic advisers instead of appointing individuals with specific competencies

Joe Biden, a career politician, with over 40 years of government employment, and zero private business experience, has instituted policies bereft of any common economic sense or economic validity.  In fact, his administration has among its ranks, advisers, academics, and career bureaucrats who only have a minimal amount of private business experience.  It is estimated that only 5% or so of those in the Biden Administration have had private business experience. It seems that Biden, in making his appointments, was only interested in diversity (race, gender, sexual orientation etc.) in choosing his cabinet, aides, and economic advisers instead of appointing individuals with specific competencies.  We are now suffering from his choice of “diverse” individuals lacking specific expertise.  Being an arrogant, thick-headed individual, Biden refuses to change his modus operandi. The result is a record inflation that has reached 8.5% (a 41 year high) which has hit the poor and middle-class the most.  Gasoline has now averaged over $5.00 per gallon (more than double than when Biden was sworn in, and it is predicted to go even higher).  Some food staples have become scarce (baby formula etc,) and overpriced when they become available.  The mortgage rates have more than doubled making the purchase of housing difficult for the average person.  Many economists have predicted that we will be in recession by the next year, all because of the unwise disastrous economic policies of the Biden Administration.

Most all reputable polls have shown that approximately 80% of the people feel that the country is going in the wrong direction, and Biden’s favor ability rating is also going in the same downward direction, now in the 30’s, even below the negative ratings of both Jimmy Carter and Donald Trump.

Even though all indications of our economy being on the obvious negative side, Biden and his flunkies around him are going around claiming that we are in a booming economy.  It boggles the mind, which makes one wonder what planet these people are living on?  It seems that they are all clueless which reinforces the claim that the whole Biden Administration is run by a gaggle of incompetents.

So, say goodbye your 401K and welcome your 101K (tongue in cheek).  Hopefully, things will get better after the November mid-term elections when the Republicans regain the majority of both chambers of the legislative branch.  We must bring sanity and competence back into our government or we’ll become a 2nd rate country instead of the country that Ronald Reagan called the “Shining light on the hill”.

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