Status Quo Ante: Biden’s Economic Team

I f**king hate that guy.

Neera Tanden, nominee for the role of director of the Office
of Management and Budget in the Biden administration

When the reality TV star moved into the White House, we opined that the common narrative was phony.

Mr Trump pretended to represent ‘conservatives’ against the ‘liberals’. But there was never anything conservative about The Donald.

He spent the next four years proving it.

No help to give

Now, we have an equal and opposite scam.

The Democrats no longer represent the working classes…the poor…the downtrodden…or the ‘victims’ — women, minorities, cripples, half-wits, and so forth.

Both political parties are controlled by two wings of the same group. They represent neither conservatives nor liberals.

Instead, they represent themselves — a corrupt and degenerate American elite.

For proof…today, as promised, we take a look at the Biden team. Here’s MarketWatch:

“Help is on the way,” says Biden as he introduces Yellen and more economic team members

President-elect Joe Biden called times “tough” for millions of Americans as he introduced his economic team on Tuesday, but said its members would get to work to “create a recovery for all.”

We don’t have to remind our dear, long-suffering, readers that the feds have no help to give.

Every penny they spend must come from the American people themselves. And since they know they will lose power if they raise taxes, all they can do is print more fake money — the very thing that is already destroying the real economy.

So any ‘recovery’ that happens will come in spite of the Biden team, not because of it.

Divisive appointments

But real help is not on offer anyway.

What is coming is another giant fraud…led by a team of hacks, has-beens, incompetents, know-nothings, and grifters.

Take Janet Yellen, for example. She is an academic economist with no apparent knowledge of how real economies or markets actually work. Here’s what Reuters reported on 27 June 2017:

U.S. Federal Reserve Chair Janet Yellen said on Tuesday that she does not believe that there will be another financial crisis for at least as long as she lives, thanks largely to reforms of the banking system since the 2007-09 crash.

Ms Yellen completely misunderstood the mortgage finance crisis. She believed it had nothing to do with the Federal Reserve’s fake money and fake interest rates. And she thought future crises could be avoided by changing bank regulations.

Obviously, she has no idea what she is doing. But since she showed herself willing to go along with the elite’s flimflam…and finance it with printing-press money…she will have no trouble being approved by the Senate.

Assisting her (if approved) will be Neera Tanden at the Office of Management and Budget. Scheerpost’s Glenn Greenwald comments:

The announcement that Joe Biden intends to nominate Neera Tanden as his Director of the Office of Management and Budget — a critical position overseeing U.S. economic and regulatory policy — triggered a wide range of mockery, indignation and disgust from both the left and the right. That should not be surprising: though a thoroughly mediocre and ordinary D.C. swamp creature from the perspective of both ideology and competence, Tanden’s uniquely unhinged, venomous, corrupt and pathologically dishonest conduct as a Clinton Family and DNC apparatchik and President of the corporatist-and-despot-funded Center for American Progress (CAP) has earned her a list of enemies far longer and more impressive than her accomplishments.

But why appoint such a divisive person?

Diversity, not competence

Mr Biden has pledged that his inner circle will be more ‘diverse’. ‘It will look,’ he says, ‘like America itself’.

There will be plenty of women, he assures us…and ‘people of colour,’ too.

Ms Tanden is a ‘two-fer’…her parents are immigrants from India. She is also, by many accounts, not a very nice person. Perhaps that, too, should count as ‘diversity’? A diverse group inevitably includes a jerk or two.

Ms Tanden knows nothing about economics. That puts her squarely in the mainstream.

Besides, ignorance is a job requirement in a corrupt and hell-bent empire. Anyone with any real brains might try to turn the bus around…or, at least, slow it down.

Cecilia Rouse, Biden’s choice to head the Council of Economic Advisers, is another two-fer. Like Ms Yellen, she is an academic economist well versed in school politics.

And there’s Adewale ‘Wally’ Adeyemo, who will join Ms Yellen as deputy Treasury Secretary. He intends to remake the economy so that it gives ‘people a shot when they need it most’. He said that was a ‘lesson I learned from my parents’.

What the heck that means, in terms of economic policy, we have no idea. Like Tanden, Adeyemo is a lawyer, as innocent about free market economics as a tree toad about the Theory of Evolution.

Diversity — not competence — is the name of the game now.

Foolish goal

But wait…is this really diverse?

Not a chance.

Nearly half the voters pulled the lever for Donald Trump, but there will be no red hats in the group.

A third of the population is obese. But there will be no really fat people in the Biden team.

According to a poll conducted this summer, 56% of Americans believe the country is ‘racist’. Who represents the racists in the Biden bunch?

Half the American population has an IQ below 100. While there will be plenty of dumbbells in the executive line-up…few will have IQs below the 100 mark.

‘Diversity’ is a foolish goal. Would Japanese restaurants serve better sushi if they had more Italian chefs? Would the Supreme Court function better with more retarded, dyslexic, psychopathic, and insane members?

Why should we care if the pastry chef is a man or a woman? It’s the croissants we care about.

Would we really want a ‘diversity’ dentist to drill our teeth? Do we want blind bus drivers…illiterate editors…or midget basketball players — just for diversity’s sake?

A cabal of insiders

But ‘diversity; is just part of the scam. That is, by choosing women and ‘people of colour’, Joe Biden is able to pretend that he represents the ‘victim’ classes…without actually giving a damn about them.

The ‘of colour’ tag is especially helpful in this regard. It allows people who have spent their whole lives on the fast track — best schools, best jobs, best parties — to pass as underdogs! Tanden and Adeyemo, for example, both went to Yale Law School.

The whole thing is a fraud.

Mr Biden’s hand-picked henchmen are all cut from the same crooked lumber — the smart, slim, rich, conniving Deep State elite. They all think the same thing. They will all want the same things, too — power and money.

Let’s look again at Ms Tanden. Here’s TIME:

The embodiment of a Washington insider and personification of its nerdocracy […] A player in Democratic politics for decades — she started out by volunteering for Mike Dukakis’ 1988 presidential bid — Tanden’s Rolodex rivals almost everyone else’s. Her steel-trap brain seldom forgets a footnote or a slight. When her critics have dismissed the 50-year-old insider as a lightweight, they have been proven wrong in short order.

Right at home

In years past, a new president brought a new team. With Reagan, for example, came his trusted Californians. Carter brought in new blood from the South. Even Donald Trump brought Scaramucci, Giuliani, and other reprobates from New York.

But Mr Biden’s team will need no U-Hauls. They’re already at home in Bethesda or McLean. And they’ve lived in The Swamp so long, they’ve developed webbed feet.

Today, we looked at Biden’s economic team. Tomorrow, we’ll look at his foreign policy team.

Stay tuned…

Regards,

Dan Denning Signature

Bill Bonner,
For The Rum Rebellion


Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries.

A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America’s most respected authorities.

Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally.

With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance.

Bill has been a weekly contributor to The Rum Rebellion.


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