Another month another couple of leftists nominated for critical jobs. Back in early November when a public rising began against Biden's nominee for Comptroller of the Currency, Saule Omarova, I passed on the word.
I've started to hear about another couple of nominees and names to pass on. Biden has nominated two women to the Federal Reserve Bank, each with their own stories, and the corporate media is already laying the tracks to attack anyone who opposes them as sexist, racist and all the usual chatter. As always.
The one I want to focus on as possibly being the more radical and more damaging is Dr. Lisa Cook, a professor of international relations and economics at Michigan State University. Dr. Cook has an extensive history of supporting “race-specific” financial compensation “because the injury was race-specific,” Fox Business reported. Cook was nominated on Jan. 14 to serve on the Board of Governors of the Federal Reserve System.
In case you missed it, “race-specific financial compensation” is code for reparations. While there are no numbers that I can trace to her, the estimates for reparations run from half of the US GDP for one year up to our complete GDP for 150 years.
- William Darity Jr., an economist at Duke University, estimates that reparations would cost the U.S. government roughly $12 trillion. (US Debt Clock shows the US GDP at just under $24 trillion).
- While the mayors didn't address the cost, one study by a small group of college professors has suggested it could reach $6.2 quadrillion. For those people who aren't familiar with the word: a quadrillion is a thousand trillions or a million billions, so that's $6,200 trillion.
...
It's worth noting that's quite a bit more than "all the money on earth." Wikipedia tells us that the Gross Domestic Product of the world for 2019 was about $88 trillion, making the reparations about 70 years worth of all the money in the world, assuming zero growth in world GDP and 100% of the world GDP going to the American descendants of slaves. Of course, there have been no slaves in the US since the 1860s unlike today's middle east or lots of other countries. The US produces 2/3 of the world's GDP, so since we'd be the only country paying this, it consumes our entire GDP for 105 years.
Dr. Cook, of course, doesn't address how any number would be arrived at,
obtained or distributed. She obviously is historically illiterate enough
to believe that only black people were slaves, only in the US and only
from the nation's founding until slavery was outlawed.
My main objection to Cook, surprisingly, isn't this. It's that she has never published one single paper on any of the critical fiscal policy issues that would constitute her day-to-day job. She's completely, categorically, unqualified. She's being criticized in the committee for being a loud-mouthed, liberal loonie, eager to engage in partisan political fights. I expect that, although maybe she is worse than usual. I expect her to blame everything in the world on the Stupid Party while supporting "defund the police." Her lack of a single qualifying skill for the job that she has been appointed to bothers me more.
If you go searching for "Biden Fed nominees" expect to find less about Dr. Cook than another appointee, Dr. Sarah Bloom Raskin. Dr. Raskin is a Distinguished Professor of Law at Duke University. Unlike Dr. Cook, Raskin has actually been on the Board of Governors of the Fed and in the Treasury department, so she is actually qualified. Her only issue is the loonie left agenda she backs.
If you've heard of financial companies trying to enforce climate change regulation through methods that are outside of written law, though, this is her emphasis. Called ESG scores for Environmental, Social Justice and Governance categories, it's a way for banks (and the Federal Reserve is nothing if not the biggest private bank in the country) to force companies to do things without having to pass laws. If mutual funds and other stock-buying companies are required to meet certain ESG scores, they can demand no end of goofy regulations. This is how Exxon ended up getting people on their board of directors dedicated to getting them out of the petroleum business.
Raskin is said to be wanting to emphasize this to force oil and natural gas companies to work to the green agenda.
Raskin's opponents have particularly keyed on to a May 2020 article in which she opposed the Fed's emergency pandemic lending facilities supporting the oil, gas and coal industries.
Until the (very recent) introduction of ESG scores, companies had an incentive to please their customers (and stockholders if they're publicly traded). Yes, they had to manage their credit and be a good customer to the banks, but customers were first. With ESG scores, the incentive moves over to pleasing the government and the woke mob because bad ESG scores can financially cripple a company.
It's almost as if they (the powers behind Xiden) are trying to damage the US as much as they can in the least amount of time. Like they (the powers) are suspecting that we (the downtrodden citizens) are about done tired of their poop.
ReplyDeleteAnd government by private fiat? That's something that was first introduced during the Clintons but became a huge beast during the Obama administration.
The sad reality is there's only one thing "we the people" can do to address these never ending assaults on our freedom. And that one thing is neither peaceful nor pleasant. But if not done these assaults will continue incessantly till there's nothing left of our freedoms or this country.
ReplyDeleteThey are pushing it. Some say intentionally so they can use the military against us. Biden pointed out that they have F-15s and Swalwell said they have nukes.
DeleteMy hands are a weapon. I clasp them together and interlock my fingers and invoke the most power in the universe. Prayer.
So far Lujan has had a stroke.
First, "Let's go Brandon".
ReplyDeleteSecond, you would have to search concertedly to find two less qualified race-shills to occupy those positions on the Federal Reserve. I'm with Dan and Beans (above). The solution to the Brandon era is distasteful, no matter how you slice it. Three more years is almost intolerable. Maybe a Republican supermajority in Congress can impeach and remove?
The midterms have already been lost. The Stupid Party allowed the communists to gerrymander the redistricting, picking up 75 seats.
DeleteThe only thing that has any possibility of bringing back America is a general uprising, a general strike, and open kinetic warfare. The coup was launched in 2020 while we slept, and we still can't seem to figure out that we have been conquered already. Forget Joe Biteme, he's is only a figurehead to keep the political theater rolling.
Asleep at the switch, indeed. Our culture is dead. Our country is dead. And our brains are dead.
These are exactly what the owners of the Democrat party want!
ReplyDeleteOr do you seriously think that Soros, Zuckerberg, and Bloomberg have any problems with them???
ESG is just another word for cancer.
ReplyDelete