Senator Elizabeth Warren (D-MA) is a real piece of work. She fits the Reagan maxim about liberals to a T – there’s so much she knows that just isn’t so. She was the driving force behind the institution of the unconstitutional and scandal-ridden Consumer Financial Protection Bureau (CFPB) and has been a Democrat mainstay in the Senate Banking Committee. She loves to hold forth on matters of economics, even though her knowledge of economics is approximately 1/1064th of the economic knowledge of a pine cone.
Now she’s going to be the Ranking Member on the Senate Banking Committee, and worse, she’s bringing a Biden administration flunkie with her to work as the Democratic staff director. A hagiography at Axios presents details, but there’s a lot more to it than Axios presents.
Sen. Elizabeth Warren (D-Mass.) is tapping Jon Donenberg, a deputy on President Biden’s National Economic Council, to be the Democratic staff director on the Senate Banking Committee.
Why it matters: Corporate America — not to mention the banking industry — is bracing for Warren in her new role as the committee’s ranking member.
By “bracing,” they mean “steeling themselves to an outpouring of horse squeeze from a leftist nut who knows nothing about banking, markets, or economics.” Here are the points Axios gives; let’s go through them one by one, shall we?
- Warren wants to use her new position to help define her party’s response to the deep concerns Americans have about the economy and inflation.
The deep concern Americans should have is that the Democrats have put this person anywhere near government-imposed banking practices. Everything she supports, and every policy position she espouses, are precisely what has caused the stagnant economy and rampant inflation that the American people are concerned about.
It’s fortunate indeed for the American people that Warren’s “carrot and stick,” more aptly described as “beatings will continue until the economy improves,” has no chance of coming to fruition – not as long as the GOP holds the House and Senate, and Donald Trump sits at the Resolute Desk, gleefully wielding his veto pen.
- It’s another signal that Warren will use her high-profile position to advocate for direct subsidies to consumers and eviscerate corporate America if she thinks they are ripping off consumers.
“Direct subsidies,” of course, means “spending as though the world was ending tomorrow because we still have checks left and therefore we can’t be broke.” Warren’s tendencies in this regard aren’t even without shouting distance of economic reality.
The best thing the United States Senate could do for the economy is to leave it alone. But meddling seems to be a required character trait among politicians, and Liz Warren takes it to a whole new level.
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Finally, here’s Axios’s estimation of Donenberg:
Zoom in: At the White House, Donenberg played a key role in Biden’s plan to build the country’s industrial base — and bolster the middle class — as a way to increase America’s standing in the world.
Do I need to remind you how that worked out? The economic disasters wrought by the Biden/Harris administration are a big reason why Donald Trump will be walking back into the Oval Office a week from today. The only good part of all this is that it’s another arrow in the campaign quivers of Republican senators in the mid-term elections.
