
In recent days, Joe Biden has vacated the office of President of the United States, passing the economic “hot potato” to newly elected President Donald Trump. While some media outlets credit Biden with saving the economy and aiding Trump, many analysts remain skeptical, noting that media narratives often diverge from reality.
Scott Bessent, CEO and CIO of Key Square Capital, has voiced concerns about the budget deficit, asserting that Biden has left the US economy in shambles, now handing the burden to Trump.
Times Magazine’s headline, “Don’t Give Trump Credit for the Success of the Biden Economy,” underscores Biden’s role in economic growth. This year will reveal whether the “hot potato” is truly as volatile as it seems.
Despite claims of economic progress, the US faces a precarious situation. The national debt continues to soar, and the country spends more than it earns, leading to interest rate instability. Years of excessive spending and money printing are poised to backfire. Inflation is on the rise, with significant increases in energy, food, and rent prices. Analysts warn that an economic collapse is imminent, with the clock ticking on the economic bubble.
During the COVID-19 pandemic, Biden’s policies encouraged people to stay home, initiating a work-from-home era that has left commercial spaces vacant. This shift poses a significant problem, as few have returned to their offices, threatening the construction and demand for business premises. Consequently, many banks face potential job losses this year.
As the situation grows more complex, the burden of economic instability now rests on Donald Trump’s shoulders.