Thread – Excerpt from a 30 Jan Ross Rant

1. These following is an excerpt from a recent “Ross Rant.” Joel Ross publishes these periodic reports that provide commentary on the changing scene with an eye toward wise future investments.

2. <excerpts begin>

My sense is a lot of investors are now beginning to realize how terrible the Biden policies really will be for the economy and jobs.

3. There is also the uncertainty being created by the Game Stop trading that has been a black swan event upsetting the hedge funds and other traders who had no expectation of such a trading strategy killing shorts.

4. However, they are staying mostly invested for now, as am I, assuming the economy will improve materially by June as the vaccine is substantially distributed, and most things are reopened. Killing the pipeline was just the start.

5. It is complete BS to say they will replace those jobs with green energy jobs. What jobs? When? At what comparable pay? Where? Millions of jobs rely on oil and gas, and they pay well, so now we are suddenly going to have them all making solar panels?

6. Oil workers earn around $30 to $40 per hour, while solar workers generally earn less, and the Labor Dept forecasts a need for only a few thousand added solar panel jobs over the next few years. If you like your medical plan you can keep your plan.

7. Remember that line. It is just a talking point with no reality. They are blatantly lying. Real jobs are created by the private sector, not the government.

8. There has to be Congressional budgetary allocations for these make believe green jobs, but in the meantime oil workers and pipeline workers are unemployed. These so called Green Jobs programs do not yet exist, nor will some material portion of it.

9. This is the same uninformed thinking by politicians as we heard from Obama and his $800 billion of shovel ready jobs which never existed. These people never learned anything from that bad experience and waste of money.

10. Remember Solyndra. They keep talking about union jobs, but the fact is less than 10% of the private sector is unionized.

11. What we all need to focus on is, will investors fully understand what is happening, and will the market crack sooner than we thought as people realize the bad consequences of all these executive orders, ….

11A. … and of the focus on environment issues instead of on economic and job creation through supporting the private sector.

12. The people who are really running the government are doing the exact opposite, and Joe is mentally incapable of grasping the ramifications of what he is doing.

13. There are so many executive orders, there is no way Biden himself had time to really review all of them, and their consequences, nor do I think he has the mental capacity to do that.

14. He has issued more exec orders than all of the last four presidents combined, and it is just a little over one week. This is his idea of bipartisan and coming together.

15. He just sits there in front of a TV camera signing one after the other, and reading some statement prepared by others. None of the people creating these policies has ever really worked in a real job. They never had to meet a payroll.

16. Each day it just gets worse as more orders are issued destroying jobs and the economy, and opening the border to a flood of illegals, drugs and MS13. And the head of EPA says there is no sacrifice needed, they can make solar panels.

17. I guess workers who lose their jobs are not making any sacrifice being unemployed. Biden said in PA there would be no stopping of fracking. Tuesday he shut down new fracking on federal land, and they have not yet released the new regs that will shut down existing rigs.

18. His claims on Tuesday that there will be millions of new jobs to install infrastructure is pure BS. However, there is no infrastructure program even introduced yet, and passing it with the funding may or may not ever happen.

19. In addition, the approval process for a major infrastructure project will take years now that they are going to put in a whole set of new EPA rules on such projects, many of which Trump had eliminated.

20. It could go back to taking ten years to even start on these projects with all the new regs. You should expect a reg coming soon that requires all new homes to have solar panels, just as they now require in CA. That adds to cost and design issues.

21. Just as bad as the loss of good paying middle class jobs, is the end of energy independence which has been a huge benefit in geopolitics and national security. Hopefully some of those Trump appointed judges will be able to put a stop to some of this terrible policy.

22. Kerry admitted that even if the US was carbon neutral it would make almost no difference to the planet. We have been the best in the world in cutting carbon, but the rest of the world is not doing all that has been done in the US under Trump outside of the Paris agreement.

23. Biden says there will be no new taxes on those under $400,000 income. If you raise corporate taxes you suppress wages, reduce spending on capital expansion, R&D, and hiring, and cause costs to increase on all products manufactured or serviced.

24. That has been proven in research to suppress wages, and the added costs of the products which consumers buy is higher, so you can say there is no tax increase for the middle and working classes, ….

24A. … but there is instead a real cost to them in terms of lower employment , lower aggregate wages than if there was a free market for labor, and we all pay higher product prices.

25. So we lose jobs to have a $15 minimum wage, and higher corporate taxes, and we have higher prices, but look at us, we taxed those nasty corporations, and got the companies that survived the higher wage costs to pay more wages to those lucky enough to keep their jobs.

26. Just so you know where $15 came from, it had zero to do with any economic or labor department research.

27. It was dreamed up one day by SEIU when they were thinking of what to demand and could not decide between $12 or $20, so a couple of union leaders said, let’s compromise and make it $15. It had zero basis in anything.

28. Several research studies by academics proved that $15 causes real job losses in markets where the real wage base should be much less based on cost of living.

<end of excerpt>

29. Ross’s Rant give us all a lot to think about! Biden’s policies aimed at destroying the US economy are becoming crystal clear. Even the damn fool Democrats who voted for the SOB are starting to experience buyer’s remorse.

30. Not that Biden was legitimately “certified,” of course. Everyone knows the election was stolen, and we are all beginning to pay the price for having allowed that to happen.

31. Subscribe here if you are interested in the entirety of these rants, past and future. ///The end.
https://www.citadelrealty.com/ross_publications.html#:~:text=Mr.,general%20economy%20and%20real%20estate.