Tags: Coronavirus | Financial Markets | Immigration | Joe Biden | Minimum Wage | Vaccines | illegal

'Bidenomics' Will Get Smacked by Supply and Demand's Harsh Reality

laws of supply and demand at work

(Iqoncept/Dreamstime.com)

By Tuesday, 09 February 2021 09:35 AM Current | Bio | Archive

It must be great to be a politician. You pass laws. You institute policy.

And then you watch as the real world either shows how smart you are, or you figure out who to blame for failed policies. 

And that brings me to the issue du jour, the COVID-19 vaccine.

First, the good news: The creation of a group of successful vaccines less than one year since the coronavirus attacked the world is an institutional miracle.

It’s a governmental partnership with the private sector that is America at its best.

Kudos to all who participated.

Now, the bad news: The miracle of the vaccine hit a bureaucratic wall in the distribution phase.

Indeed, it is quite possible that the development of the vaccine will wind up taking less time than it will take to distribute the final product here in the United States.

What happened?

I’m glad you asked.

Actually, I’m really glad that The Palm Beach Post asked me (and a group of "power players" that exact question.

Here is what I wrote (and they printed):

"There is a fundamental flaw in the vaccine distribution program at all levels; Federal, State, County and local. That is, there is a huge mismatch between the available vaccines and the eligible recipients.

In other words, the 65-plus crowd has overwhelmed the system.

Now we all find ourselves chasing our tails. The simple and obvious solution is to make the major eligible group 80-plus. Voila! No lines. No driving and waiting for hours. And, as a bonus, fewer deaths, as the most vulnerable are the first served. Over time the 80-plus number becomes 75-plus, etc. No panic. No imbalances. Fewer deaths.

It’s not rocket science. It’s Economics 101; supply and demand."

And, yes, it is a bipartisan shortcoming.

The Trump CDC and its 65-and-over recommendation has been replaced by the Biden CDC and its 65-and-over recommendation.

Next week my wife and I will get our second Pfizer shot. I dread it.

No, the shot isn’t painful.

But the hour drive each way and the multi hour wait in line is.

And the beat goes on.

You might say that identifying supply/demand imbalances is easy when you’re in the middle of them.

But how about being able to identify those imbalances before they get here?

That skill has real value.

And that brings me to my favorite future subject: Bidenomics.

Some on the right call it America Last.

Let’s examine some of the policies designed to "Build Back Better" under Bidenomics.

The first and most dramatic aspect of the new executive agenda has to do with expanding the labor force.

The Biden administration has proposed to legalize the total illegal population of the United States.

The number is anywhere from 10 to 20 million.

Of course, that figure includes the too-young and the too-old to work as well. 

So, let’s assume that leaves six to 10 million now "legal" workers who can come "out of the shadows" and receive protection under all of our labor laws.

That includes hours, Social Security, unemployment insurance, and, most importantly, minimum wages.

At the same time, Bidenomics is calling for the eight-year doubling of the minimum wage.

And, on top of that, the globalists who author Bidenomics have called for the overrunning of our southern border by asylum seekers.

They would be mostly Latin refugees in unlimited numbers. But that’s not all.

The cherry on the top of this massive expansion of our workforce is the reset of B-1 visas.

These tech-oriented visas are currently capped by country as a means to allow American college graduates to have first crack at the best, and highest paying, jobs.

No mas.

Bidenomics is about removing the caps, removing the bar on spouses working and reinstating the specter of Americans training foreigners to take over their (the Americans’) jobs.

This, of course, allows the tech companies to significantly reduce their payroll. Check out the stock market.

To summarize:

Millions of illegal immigrants come out of the shadows.

Millions of illegal immigrants come up from Latin America.

Hundreds of thousands of foreign tech workers flood the high-end of the labor market.

And the minimum wage goes up.

And that brings us back to supply meets demand.

The real wage for the lower paid workers will drop dramatically.

The new minimum wage will apply to fewer workers than the old (lower) minimum wage. And the off-the-books underground economy will skyrocket.

So will the stated unemployment rate for American citizens, especially minorities.

This is not me, on the right, hoping for Bidenomics to fail.

This is me, an observer, saying that our powers are limited and humility is better than hubris.

Chaucer wrote, "Time and tide waits for no man."

Neither do the laws of supply and demand.

Sid Dinerstein is a former chairman of the Palm Beach County Republican Party. He founded JBS Associates, a 600-person financial service company, and currently combines politics and business with Niger Innis in Inclusive Elections LLC, a firm that brings urban electorate voters to the GOP. He is the author of "Adults Only: For Those Who Love Their Country More Than Their Party." Read Sid Dinerstein's Reports — More Here.

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Let’s examine some of the policies designed to "Build Back Better" under Bidenomics.
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