On Wednesday, presumptive Democrat nominee Joe Biden announced that he will “rewrite the economy.” Obviously, he isn’t capable of that, but his handlers and advisers are. Included among them are Bernie Sanders staffers. He also announced “the end of shareholder capitalism.” In other words, he is going to war with the market.
Biden is attacking the free market, the stock market, and capitalism. He is under the false impression that unions built the middle class. They did not, free market capitalism did that.
Biden stated, “It’s way past time to put the end to the era of shareholder capitalism. The idea the only responsibility a corporation has is its shareholders — that is simply not true, it’s an absolute farce. They have a responsibility to their workers, their community, to their country.”
In place of “shareholder capitalism,” Biden proposed a more inclusive system built on the power of labor unions and on “black, brown, and Native American” communities that he said had been left out of economic prosperity.
He will let bankers at the Federal Reserve decide if wages are too high and it will be done on the basis of race.
He isn’t talking about ending crony corporatism, he’s talking about you and me and our 401Ks, something Democrats have long viewed as their pot of gold.
WHAT WILL HAPPEN
Biden said he doesn’t need investors, but without investors, there is no money to run the businesses. There go the workers and the jobs. Corporations will take their businesses overseas.
Biden has said he wants all workers to be unionized whether they want to be or not, but unions, now mostly socialist, want full control of the businesses.
Unions have already destroyed out steel industry and crippled car companies. That’s why automobile manufacturers set themselves up in Kentucky and South Carolina rather than Detroit. This brings up another point, Biden will end right-to-work laws to force unionization.
BERNIE IS THE MASTERMIND BEHIND BIDEN’S ECONOMIC PLAN
Biden picked two of Bernie’s furthest left staffers for his economic panel. Hard left Stephanie Kelton and Sara Nelson joined his “unity task force,” focusing on developing the Democratic platform on the economy.
An economist at Stony Brook University, Kelton served as an economic adviser to Sanders’s failed presidential campaigns in 2016 and 2020. She has argued that the government can pay for expensive programs, including the $94 trillion Green New Deal, by printing more money.
Nelson, who is president of the Association of Flight Attendants, was Sanders’s guest to President Donald Trump’s State of the Union address in February. She has been floated as the progressive [communist] pick to replace AFL-CIO leader Richard Trumka in 2021, tying her candidacy to the implementation of far-left values in the labor movement.
President Trump responded, saying Democrats “will make you very poor, FAST!”
If you want your 401k’s and Stocks, which are getting close to an all time high (NASDAQ is already there), to disintegrate and disappear, vote for the Radical Left Do Nothing Democrats and Corrupt Joe Biden. Massive Tax Hikes – They will make you very poor, FAST!
— Donald J. Trump (@realDonaldTrump) July 6, 2020
Hogan Gidley also responded:
“We don’t need to guess what a Biden economy would look like since Americans have been forced to live through it once already,” Trump campaign national press secretary, Hogan Gidley, said.
Gidley argued that Obama’s/Biden’s policies were to blame for the slowest economic recovery since the Great Depression, weak job growth, and lower wages.
“Biden’s [North American Free Trade Agreement] destroyed 850,000 American jobs and his inexplicable support for China killed millions more and forced 60,000 American factories to close.”