“The interest of the people is one thing: it is the public interest. AndPresident John Adams
where the public interest governs, it is a government of laws and not
The interest of a king or of a party is another thing; it is a private
interest. And where private interest governs, it is a nation of men and
not of law.”
Big Government does the bidding for Big Business… since
announcing his plan to use OSHA to force small businesses to comply with
his vaccine mandate, large companies are ramping up mandates.
President Biden continues to urge mandates and push forward with
regulations to force businesses with more than 100 employees to be
What does it mean – Large publicly traded corporations who have been
towing the vaccine line have been losing employees to smaller private
companies. Many have seen top management leave especially in the
banking, medical, and hospitality industries. This move to use OSHA to go
after small companies is a direct attempt by politicians to protect large
corporations from losing key people and to protect the political class from
upset donors. The latest is United Airlines. The CEO is now bragging
about the success of their forced compliance of the vaccine.
If this was truly about the vaccine, the President would not have excluded
the U.S. post office, all of congress, and White House staff from getting
the vaccine along with other powerful unions whose support our President
cannot do without.
This move truly is one we all need to be concerned with as it will lead to
more heavy-handed tactics if it is allowed to continue. Small businesses
will suffer and so will individual liberty.
Inflation growing at the fastest pace in over 40 years… Federal Reserve
Chairman Jerome Powell said he still expects inflation to ease eventually,
but now expects high inflation to run into 2022.
What does it mean – Powell missed, and the Fed missed the reality of
inflation and the definition of transitory. Many folks on Wall Street
understood transitory to be a few months. Meaning once we got the supply
chain up and running, all will be good.
The problem is government forgot to let the oil industry produce gas and
oil. They forgot to let the coal industry produce coal. They forgot to let the
timber industry harvest timber. The government forgot to stop paying
warehouse works to stay home. Yet, most importantly the policy that put
America first has been reversed and China is back in charge of the global
If D.C. and the Big Government ideologues would have only left the
policies in place, we all would have kept more of your money in your
pocket and would be closer to economic independence as a nation.
Initial jobless claims continue to surprise the upside… We
continue to see slight increases in jobless claims.
What does it mean – Confusion or shift in culture? The federal COVID
relief is now over and yet, we continue to see very little growth in hiring
when job openings are at a record high. Hopefully, October will see a
change in attitude and folks start heading back to work.
New home sales – New home sales increased 1.5% month over month to
What does it mean… While down from the previous months, builders are
starting to feel the pinch due to an increase in costs. The increase due to raw materials, land, and labor is making it less enticing for builders to build lower-priced homes and this is making it even more challenging for
prospective buyers to buy higher-priced homes.
No debt ceiling and $3.5 trillion will not cause inflation… Say what?
Janet Yellen and President Biden may need a refresher course in the
constitution and basic economics.
What does it mean – If Janet Yellen and D.C. got its way, they would turn
us all into little “American Express Cards” with no limit and unlimited
access to our wallets.
President Biden says, “His $3.5 trillion spending plan will not cause
inflation.” And according to Janet Yellen, we do not need a debt ceiling.
To quote the greatest play by play guy in college football history, Keith
Jackson, “Whoa Nellie.” Illegal procedure on Big Government.
Always at your service,
Doug De Groote, CFP®, MBA, CTC Managing Director