Persistent Delusion of the Far-Left Yields Inflation, Border Chaos, and Warrenesqe Policy

Progressive Bad Examples and Overreach

A blistering opinion piece by Gerald Baker in the WSJ highlights the accomplishment of Biden’s term so far.

Please consider Biden Emerges as Progressive Government’s Mr. Bad Example

Say what you will, but Joe Biden’s first year in office has one crowning achievement to its name. It has provided a real-time, data-rich, high-intensity and ultimately devastating case study in the defining conceit of progressive politics: the idea that government is the solution.

Those liberal geniuses who told us they could manage the economy like a well-honed machine have managed to create the highest inflation in nearly 40 years, eroding real wages and imperiling economic stability. The brilliant ideologues who run our cities have presided over a surge in violent crime that has reduced life for many residents to a real-life dystopia. Those omniscient technocrats who know how to devise and implement a humane and functioning immigration policy have left us with a border in name only and chaos and lawlessness to accompany it. The strategic geniuses who told us “America is back” produced a debacle in Afghanistan whose full ramifications for U.S. security we haven’t even begun to see.

It’s not too harsh a judgment to say that this is a man who has risen to the top of American public life without a trace of accomplishment. When you’ve been in national politics for almost 50 years, you ought to have achieved something, if only by accident. But this journeyman politician, when he wasn’t getting almost all the big issues wrong, was largely a bystander. He is now a husk of a leader, a dangerously debilitated figure, who oscillates between displays of vacuous incoherence and weird, angry outbursts, like a confused old man at the wrong bus stop.

A year ago a bit of wise humility about what he—and government—could achieve would have served the president-elect well. Instead, in less than a year, we have an object lesson in why progressive governance is an oxymoron.

A Word About Afghanistan

The only thing above I disagree with pertains to Afghanistan. 

I congratulate Biden for leaving even though how he went about it was a disaster. 

Let’s not conflate the correct idea with how it was delivered. Trump promised to get us out and failed. Indeed, Trump failed to get the US troops out of anywhere.

But other than Afghanistan, heck even Afghanistan for the way it happened, has been a big disaster. 

Biden’s Bank Regulatory Nominee Espouses Helicopter Money and Praises the Old USSR

Some of the things Biden planned to do were so awful not even Democrats could support them. 

On November 15, I noted Biden’s Bank Regulatory Nominee Espouses Helicopter Money and Praises the Old USSR

Under her plan, laid out in a 2016 paper, the Federal Reserve would set prices in large sectors of the U.S. economy that she deems to be ‘systemically important prices,’ . . . ‘… widely used fuels, foodstuffs, and some other raw material’ and ‘wage or salary indices,’ among others.

Until I came to the US, I couldn’t imagine that things like gender pay gap still existed in today’s world. Say what you will about old USSR, there was no gender pay gap there. Market doesn’t always “know best.” https://t.co/vvnx9DZICN

— Saule Omarova (@STOmarova) March 31, 2019

Peoples’ Ledger

4/4 My ‘Peoples’ Ledger’ piece is pushing the CBDC envelope on purpose. It’s the only way to bring attention to some of the hardest issues @izakaminska highlights. Only we don’t really need to invoke the tired old ghost of Gosbank. 🙂

Give it a read – and keep your mind open!

— Saule Omarova (@STOmarova) July 20, 2021

By People’s Ledger, she wants the Fed to hand out free money. That is something the Fed cannot legally do. The Fed can only lend.

Handing out free money at will by the decision of the Fed to achieve equality is the sure way to insane inflation. 

Warrenesque Policy and Appointments

Omarova presented the biggest collection of bad ideas in one paper for any cabinet nominee in history.

No one should be surprised by this even though Biden is not bright enough to find these Marxist nut cases on his own. 

The Progressive wing of the party led by Elizabeth Warren finds them and presents them to Biden.

We are stuck with Elizabeth Warren and the Progressive wing trying to run policy for three more years. 

The midterms will change that dynamic but it will not change the  Warrenesque appointments and especially executive orders. 

As another case in point please note Biden Wilts Under Progressive Pressure, Extends Student Loan Repayment Pause.

Senate Majority Leader Chuck Schumer and Massachusetts Sen. Elizabeth Warren want the Administration to discharge $50,000 per borrower, which would cost the government $1 trillion, according to the Brookings Institution.

Mr. Biden in January said he doubted he had the legal authority to erase student debt. But in the spring he asked the Education Department to conduct a legal analysis and then appointed Toby Merrill as the deputy general counsel. Ms. Merrill wrote a memo to Ms. Warren this year arguing that the President has the authority.

Three More Years of Executive Overreach 

We have 3 more years of executive overreach coming.

This is despite the likelihood Democrats will be blasted in the midterm elections.

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