Joe Biden's ambitious $3 trillion infrastructure and economic package outlined in his "Build Back Better" election campaign plan will be split into two separate proposals, the White House signalled on 28 March. Axios says that financial experts are "positively giddy" over the plan, predicting that it will create a whopping 2.3 million jobs by 2024 and inject $5.7 trillion into the US economy.
According to Biden's grand design, there is "no time to just build back to the way things were before," this is the moment to overhaul the old economy with its structural weaknesses and inequality and build from scratch. The strategy actually echoed the World Economic Forum (WEF) manifesto, that urged all nations to pursue a "Great Reset" of capitalism:
"Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed," Klaus Schwab, the WEF founder and executive chairman, wrote on 3 June 2020, predicting impending economic doom in the wake of the pandemic.
However, in January 2021, economic observers drew attention to the fact that the US economy had rebounded despite the pandemic: the country's real gross domestic product increased at an annual rate of 4% in the fourth quarter of 2020 after a historic 33.4% surge in the third quarter. "By any reasonable measure, the economy is not in need of a 'rescue'," argued the Wall Street Journal, insisting that "Bidenomics is unnecessary" and warning against excessive spending at the time when the US federal debt has exceeded the country's GDP. Forbes also acknowledged that Biden's plan is a "double-edge sword" for the US economy that could yield "long-term damage to the commodities-oriented sectors, as well as oil and gas firms". Citing Morgan Stanley, the media outlet did not rule out "problematic inflation" as a side-effect of the spending spree.
"Joe Biden’s economic policies will see the stock market decline sharply in six months, unemployment rise, and will do little besides growing the administrative state," wrote Dr. Theodore Roosevelt Malloch in his latest op-ed for American Greatness.
Biden and Schwab's "build back better" strategy is guided by lofty agenda of globalist technocrats, rather than economic necessity, according to Malloch, the author of 18 books, including The Plot to Destroy Trump, and CEO of the thought leadership firm Roosevelt Global Fiduciary Governance.
"Schwab has been playing this same old tune, Davosian think and re-do everything for decades. He is a broken record of technocratic globalist elitism," Malloch says. "He started the stakeholder theory of capital forty-odd years ago and plays it like an old violin. The COVID pandemic simply provided him with a setting to re-launch his new/old campaign."
In addition to "re-building" the economy, the Biden administration is seemingly seeking to increase the role of the federal government and, judging from the H.R. 1 bill, impose unprecedented federal control over how states hold elections.
"Racial equity," yet another pillar of Biden's "build back better" initiative, has already triggered controversy: the mayor of Oakland, California has introduced a resilient families programme that provides $500 a month for at least 18 months to low-income Black, Indigenous, and People of Color (BIPOC) families while leaving white households living in equivalent poverty out in the cold. Newsweek explained that the programme stems from the Black Panthers' "basic income" platform, referring to the African American Marxist militant group founded in 1966 in Oakland.
Another glaring example of the unfolding controversy is a lawsuit filed by a mixed-race boy against a public charter school, in Las Vegas Nevada, over a year-long critical race theory class. The irony of the situation is that being half-black, the schoolboy has light skin, green eyes and blondish hair which made his peers regard him as "white" and therefore label him as an "oppressor." As a result, he was subjected to discrimination on the basis of race and directed to "unlearn" his Judeo-Christian beliefs.
The emerging pattern is pushing the US to nothing short of a "woke authoritarianism" especially if Kamala Harris takes the reins of the country soon, warns Malloch.
"Wokism is a Marxist based ideology rooted in racism and anti-white sentiment that explains politics according to identities," he says. "It tends to be anti-democratic and authoritarian and leads to cancel culture, one party rule and exclusion. It spells doom for American society and spreads all over the world as a spell of darkness. Political correctness becomes Orwellian dictatorship complete with technocratic elites, surveillance and a police state."
Next Generation of GOP to the Rescue
Meanwhile, Biden's progressive initiatives are subjected to criticism on the other side of the political aisle. The GOP is seeking to retake control of the House and Senate in 2022 to stop the excessive spending, federal government's takeover and "wokeism".
On 21 March, Donald Trump's former aide Stephen Miller suggested that the ex-president may launch his own social network in 2-3 months. Concurrently, the former president is working with allied Republicans preparing for the 2022 midterms and teasing that he may throw his hat in the ring in 2024. What are the odds of American conservatives coming back to power in 2022 and in 2024?
"The chances are near 100 percent," Malloch believes. "The midterms are already starting and the Dems are set to lose both the House and the Senate as a result of Biden’s weak presidency and bad policies. The 2024 race is in Trump's hands. If he runs and there is a fair election, he would win. If he steps back he will in effect be kingmaker and there are some 24 candidates running for 24. My odds at this point favour Mike Pompeo, Ron Desantis, Josh Hawley, Tom Cotton and the next generation of conservative Republicans, not the old guard."
The views and opinions expressed in the article do not necessarily reflect those of Sputnik.