By Duncan Smith
Joe Biden hasn’t taken office yet, and already we’re seeing signs of why he should never do so (meaning, of course, that we want Trump to reverse the election theft).
The National Federation of Independent Business reports that confidence among small business owners is already sinking.
Breitbart News has more details:
The NFIB's index of small business optimism fell 2.6 points to 101.4 in November, dragged down by lowered expectations for economic improvement in the near-term future.
That's a stark contrast to the reaction four years ago when the index jumped from 95 in October to 106 in December following the election of Donald Trump.
Despite the decline, the index remains well above the 47-year historical average reading of 98.
'Small business owners are still facing major uncertainties, including the COVID-19 crisis and the upcoming George runoff election, which is shaping how they're viewing future business conditions,' said NFIB chief economist Bill Dunkelberg.
The return on of lockdowns and restrictions on business are taking a toll on business confidence.
'The recovery will remain uneven as long as the country's major GDP producing states, California and New York, are again restricting commerce,' the NFIB said in a statement.
Fifty-three percent of respondents reported capital outlays in the last six months, unchanged from October. New equipment was the biggest category for capital spending, followed by vehicles, and then improved or expanded facilities. The share of owners saying they planned additional capital expenditures in the next six months fell one point to 26 percent.
Biden is going to be the typical Democrat: Bad for small business, bad for the U.S. economy as a whole, but great for corporatists, globalists, and elitists who will all benefit from his corporation-first policies.
Hang on to your 401K.
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