Backlash Mountain

I get the sense a backlash is coming.

Follow along with me here.

You pour your resources into a business. The government shuts it down because of COVID. You can get PPP, but your employees will be pissed at you because they’ll make more from unemployment. You can’t survive. You go out of business. Or you take the PPP, but costs go up, and you can’t make ends meet. You struggle to survive or go out of business.

You are mindful of every penny spent. You pay everyone else first, and your profit dwindles. You, perhaps because of your business, get attacked by progressives for being greedy or rich when, in reality, your costs have gone up, you’re paying your employees first, you are taking care of family and friends and paying bills and tuition, and you are struggling, not rich.

Now, out in California, a bank goes belly up. The bank ignored its risk, failed to manage its risk, and just so happened to be the bank all the geniuses in Silicon Valley piled their money into. The well-heeled investors get all the Democrats in Washington on the phone and get a bailout of all the smartest people in the room who were dumb enough to all pile their money into a single bank.

We’re told it is all a good thing because otherwise a lot of workers in very important tech sectors won’t get paid next week. Meanwhile, you just missed a payment for your business while trying to make ends meet. You have no former Federal Reserve governors on your board or connections to Democrat hedge fund managers who can get Kamala Harris on the phone.

I do understand the argument of those who thought heaven and earth needed to be moved to cover all depositors despite everyone knowing the FDIC doesn’t cover more than $250,000.00.

I get it. I get the ramifications, the fears, and the instability.

But I’m also pretty sure the people who orchestrated the bailout — and it is a bailout — do not get how middle-class Americans see this bailout.

You’ve asked middle-class Americans to bail out rich kids from their student loans and now they’re bailing out the rich kids’ bank accounts and you have the audacy to tell the people whose businesses are going under because of inflation that they should be thankful and grateful the Fed pulled out the stops to save depositors at Silicon Valley Bank.

A backlash is coming. I don’t think Democrats understand it. They aren’t just soft on crime. They also love bailing out the rich and the expert class from their mistakes.

In 2016, voters went for Trump. Don’t be surprised if voters decide to burn it all down again

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