PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discussed the latest infrastructure bill coming out of Washington D.C. and its potential implications.
Q2 2021 hedge fund letters, conferences and more
Comments On The New Infrastructure Bill
“Tuesday was a flat day for the markets,” Celia commented. “Nothing really happened. It was in negative territory, but the idea that the government is still trying to pick winners is absolutely amazing to me.”
Celia continued, “Now the government is about to give some of the richest companies in the world money from the trillion-dollar infrastructure bill. Billions are going to go towards technology for green energy. If green energy is the wave of the future, then they should allow the private sector to do what private sectors do—pick winners. They invest in winners. The winners end up being the ones that are most competitive, and the growth can be innovative. Instead, they've got a grant of billions of dollars from the government.
“However, the government looks at their management. They don’t look at their innovativeness. They don’t look at their efficiency or effectiveness as a company. They’re going to give billions of dollars to companies that either will misuse it, waste it or don’t need it. Most of these tech companies that do the greatest good for the environment are already worth billions and billions of dollars. And now the taxpayers need to give them more money? Biden is trying to tax them even more so he can get some of that money back. The irony of it all is too much to bear, but that’s what's happening.”
