Hey Influence Traders,
Yesterday was a solemn day. One that I can never forget.
I was in my apartment on 30th and Madison when the planes hit the towers.
It changed my life and the world.
But I am here and able to write about it.
It’s hard to believe that 20 years have gone by. This weekend I honor those who lost their lives that day to an act of terror and, for so many, acts of bravery.
This weekend is solemn for another reason. President Biden’s vaccine mandate and attempt to pit one set of citizens against another is an affront to the freedom and liberty upon which this country was founded.
It will also pose a test for Biden’s political capital.
During the election cycle, candidate Biden billed himself as a uniter who would bring the two political parties and the country together.
Well, he has done the opposite.
But uniting is more important than ever to him as he tries to move his massive spending bills through congress.
Even some Democrats are balking at the big price tags, so Biden will need every vote. The Republicans have not been on board with much of the spending, particularly the taxes, but they have indicated a willingness to negotiate.
The vaccine mandate will harden their resolve to oppose those bills.
Labor unions, a friendly base of the president’s, are also not happy. Biden did not consult them or give them a chance to collectively bargain over his mandate, which will put them at odds with some members. Many unions have indicated that a good percentage of their membership are not in favor of mandatory vaccines.
Biden’s vaccine declaration will put downward pressure on employment and upward pressure on inflation. Vaccine-hesitant people will quit their jobs to avoid being forced to take the vaccine, and supply chains are already causing shortages. Any additional labor shortages will exacerbate those problems and raise the cost of goods and services.
This week we’ll get back into prognosticating DC’s impact on the markets.
Today I honor heroes.
Cutting Through the Noise for You.