Popular Articles
Today Week Month Year


Impending doom? Economist predicts ‘Biden’s woke economics will lead to disaster’
By News Editors // May 04, 2021

A top economist sounded the alarm on the damage President Joe Biden’s Marxist plans will inflict on the economy.

Brighteon.TV

(Article by Joseph Vazquez republished from NewsBusters.org)

Economist and University of Maryland Professor Emeritus Peter Morici penned a fiery op-ed headlined, "Biden's woke economics will lead to disaster." In the piece, Morici argued that "Mr. Biden doesn’t just want guardrails on markets — limits on bank risk taking, regulations to police discrimination and subsidies to reshape health care."

Morici decried how Biden is trying to arbitrarily "reprogram American capitalism and culture to address alleged sexism, structural racism and climate change." Morici didn’t hold back: "Economic policy has become a playpen for the woke Gestapo."

Morici noted that "[s]ocial efficacy is subjective — what criteria should central banks and private lenders use to assess a race-neutral or transgender-friendly workplace?" In his estimation, Morici said that Biden’s massive influx of "woke" into economic policy "is leading to terrible investment choices."

But it’s not as if many academics can afford to be bold in calling out the Biden administration’s Marxist mentality. Morici noted how "Biden enables by his silence the cancel culture in the media and the jackboot thought control in teaching and research at American universities."

Morici documented some of the "terrible investment choices" Biden plans to force the U.S. into implementing:

He promises to cut CO2 emissions in half by 2030, but Mr. Biden can’t quickly enable private investors to build out charging stations that would permit intercity travel in electric vehicles. Left to their own devices, automakers would calibrate the transition from gas-power to EVs to emerging charging infrastructure but by subcontracting federal auto emissions standards to California’s zealous regulators, Mr. Biden will impose a Golden State utility meltdown — not enough electricity where motorists and truckers need it and sometimes no power at all — along the interstate.

Biden’s extremist plans will also directly affect homeowners.

"Forcing homeowners to convert to electric heat would raise annual household costs more than $4,000 a year in the Northeast," Morici said. He noted that with median household incomes in the state of Maine at about $60,000, Biden’s plans wouldn’t allow much room after mortgages and rent, taxes and essentials for "travel, to buy a few luxuries or even take in a movie."

Morici even lambasted far-left Congresswoman Alexandria Ocasio-Cortez (D-NY): "Don’t complain, AOC will likely tell you reclining seats and buttered popcorn is homophobic and racist anyway."

In addition, Morici excoriated how "[t]he Fed buying all those bonds to suppress interest rates and make federal borrowing cheap is creating zombie companies — cheap loans for enterprises with few prospects for turning a profit over the business cycle."

Morici gave a dire prediction for the American economy: "Growth will stall, Americans White and Black, straight and gay will fight over a diminished future and that’s the stuff that ignites revolutions."

Read more at: NewsBusters.org and Bubble.news.



Take Action:
Support NewsTarget by linking to this article from your website.
Permalink to this article:
Copy
Embed article link:
Copy
Reprinting this article:
Non-commercial use is permitted with credit to NewsTarget.com (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.

NewsTarget.com © 2022 All Rights Reserved. All content posted on this site is commentary or opinion and is protected under Free Speech. NewsTarget.com is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. NewsTarget.com assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published on this site. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
News Target uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Close
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.