Biden’s Brawndo (The Economic Mutilator)! Fed Paid Treasury $76 Billion In 2022, $200 Million Every Day, Bank Willingness To Lend Crashes, Bank Credit Falls For 16th Straight Week, Biden Enacts War Powers To Get Households To Use Inefficent Electric Heat Pumps

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by confoundedinterest17

Biden’s terrible economic policies and horrid fiscal managment has put stress on The Federal Reserve. The Federal Reserve paid an estimated $76 billion to the Treasury in 2022 while banks’ willingness to lend has plummeted.

First, let’s look at Biden’s and The Fed’s Brawndo.

One of the key ways central banks absorb liquidity back out of the market is through reverse repo. These are short-term transactions where the Fed sells securities to banks and agrees to buy back at a higher price the next day.

This means banks are being paid to park cash with the Fed instead of injecting it into the economy through loans and fanning the fires of inflation.

That alone is costing the Fed $200M every single day.

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In addition, the Fed is spending another $500M in daily interest payments on its reserve policy, i.e. balances that banks are holding in their reserve accounts at the Fed.

Banks’ willingness to lend has plummeted making credit availability increasingly tighter. Current levels have typically ended in recessions.This time is NOT different.

And on the energy side of the market, Biden Invokes ‘Wartime Powers’ to Attack Gas-Powered Furnaces. Of all the stupid things Biden has done, invoking wartime powers to make households use inefficent electric heat pumps instead of gas furnaces in stupid of two levels. First, invoking wartime powers for things unrelated to national defense is reckless and capricious. Second, electric heat pumps in the colder areas of the country is stupid as well. Electric heat pumps are inefficient, unless the goal of Biden and his Idiocracy is to “cull the herd” or kill off people during winter months (I had an electric heat pump in a condo I owned and it was terrible in winter months).

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Yes, the Biden Administration and The Fed are economic mutilators!

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