The New Three Amigoes - The Three J's Joe, Janet and Jerome have a question for you speculators out there. Got copper and gold?
New York Times Story
Published March 22, 2021
Updated March 23, 2021, 8:26 a.m. ET
"WASHINGTON — President Biden’s economic advisers are pulling together a sweeping $3 trillion package to boost the economy, reduce carbon emissions and narrow economic inequality, beginning with a giant infrastructure plan that may be financed in part through tax increases on corporations and the rich.
After months of internal debate, Mr. Biden’s advisers are expected to present the spending proposal to the president and congressional leaders this week, as well as begin outreach to industry and labor groups. On Monday, Mr. Biden’s national climate adviser, Gina McCarthy, discussed his infrastructure plans — and their role in combating climate change — in a meeting with oil and gas industry executives.
Administration officials caution that details remain in flux. But the enormous scope of the proposal highlights the aggressive approach the Biden administration wants to take as it tries to harness the power of the federal government to make the economy more equitable, address climate change, and improve American manufacturing and high-technology industries in an escalating battle with China.
The $1.9 trillion economic aid package that Mr. Biden signed into law this month includes money to help vulnerable people and businesses survive the pandemic downturn. But it does little to advance the longer-term economic agenda that Mr. Biden campaigned on, including transitioning to renewable energy and improving America’s ability to compete in emerging industries, like electric vehicles. Administration officials essentially see those goals — building out the nation’s infrastructure and shifting to a low-carbon future — as inseparable."
"It includes money for rural broadband, advanced training for millions of workers, and one million affordable and energy-efficient housing units. Documents suggest it will include nearly $1 trillion in spending on the construction of roads, bridges, rail lines, ports, electric vehicle charging stations, and improvements to the electric grid and other parts of the power sector."
The copper part is pretty obvious ... but watch Congress shy away from the tax and finance parts aimed at high income earners and corporations and leave it to Treasury to pick up the slack. Got gold?
And ... boom goes the dynamite.
cg