Hey big spenders

Alas, we must write about mammon once again this week, with two monstrously big buckets of cash being compiled by the US government. The Senate has unveiled a $1.1 TR infrastructure bill with lots of provision for social justice and climate alarmist goals. But Rachel Bovard, at The Federalist points out that the bill was merely a “prelude” to the $3.5 TR budget which passed the floor of the Senate last week.

While the budget is not set in law, it does steer actual spending and in this case, the wish list of the “Green New Deal” is in the driver’s seat. There’s money for climate change programs, abortion, and “free” everything, so if approved, the “Bernie Sanders budget” looks set to change the country forever.

With almost half of the spending financed with new debt, Al Mohler pointed out that America is spending money we don’t have and can never repay. Justin Haskins observed that the Fed has been printing a lot of funny money in the last decade and warns that the President’s budget could cause economic collapse. Elsewhere, Haskins suggests that people should look to invest diversely, if they are able, especially in land. He points out that it is no coincidence that Bill Gates is buying up farmland – the elites know what time it is. 

Talking about money

A two-year Congressional deal to suspend the USA’s debt limit expired last weekend, meaning the government can no longer borrow money to pay its debts. The Hill says there is little agreement across the political aisle on spending, with Republicans generally favoring spending cuts while Democrats favor removing the debt ceiling again. Bipartisan support for a plan will be needed to avoid the US defaulting on its $28 trillion national debt. For all the wonky details, you can read more here or here.

Another important date came and went last week. A moratorium on evictions, put in place by the government to ease financial hardship during the COVID-19 pandemic, ended on July 31. While the Supreme Court acknowledged the unconstitutional nature of the moratorium last September, the Order was allowed it to stand because the CDC planned to end it “in only a few weeks.” 

However, the Biden administration has issued a new ban on evictions, which John Daniel Davidson at The Federalist called “blatantly unconstitutional.” He writes: “If landlords try to evict tenants for not paying rent, they could face criminal penalties including fines and imprisonment.” Landlords are owed around $21bn in rent.

President Biden is proposing a return to Obama-era fuel efficiency standards for vehicles. The White House’s ambitious plan to reduce carbon emissions also aims for 40% to 50% of new auto sales to be electric cars by 2030.

Miami is minting its own cryptocurrency to fund police.

While we’re talking of mammon.. for all the market enthusiasts, the Bank of England has published a working paper of global interest rates since 1300. That’s quite a while… 

Take this job and shove it

Tennessee Governor, Bill Lee, has opted his state out of federal unemployment supplements and other benefits, saying that people need meaningful employment, not government handouts. Businesses across the country are struggling to find workers, as stimulus payments outstrip wages in retail and hospitality jobs.

President Biden says people want to work – but only if the price is right.. Teen Vogue, ever a bastion of morality and sense (we jest), agreed, suggesting we should give socialism a try. A new normal can be “weekly government financial aid, universal health care, and choosing to work from home if you want to, or not at all.” After all, the writer says, America wasn’t really built on “tenacity and industry” but rather on “exploitation and enslavement.” And there it is..

The magical thinking Modernland promotes, that living off others is a good thing, is not what God has said in his Word. Solomon, the wisest man who lived, concluded in Ecclesiastes that finding satisfaction in your hard work is a good thing. St Paul exhorted the Ephesians to work so that they would have something to share with one who has need.

Mad Christians know that even in the Garden, it was a delight for our first parents to work, doing the tasks God had given them. He dignified mankind with vocations, stewarding creation, raising our families and helping our neighbors. Echoing Martin Luther, Gene Veith wrote, “God is hidden in vocation. Christ is hidden in our neighbors.”

Money does grow on trees

BlackRock, one of the world’s largest financial companies has been throwing its considerable weight around in recent months. The company, which manages around $7 trillion worth of global investments (transport, tech, healthcare, logistics, airlines…) is all on-board with the Great Reset

The directors have advised that they are putting companies on notice who aren’t showing enough “progress in tackling the climate crisis.” Big Money is pushing for investment in “green” products, electric vehicles, renewable energy, and sustainable building, ostensibly for the good of the planet. Oh, and you need to have a diverse board and be committed to all the right causes.