{"id":1497264,"date":"2024-10-19T16:50:00","date_gmt":"2024-10-19T20:50:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1497264"},"modified":"2024-10-19T16:50:00","modified_gmt":"2024-10-19T20:50:00","slug":"kamalas-opportunity-agenda-will-be-disastrous-for-african-americans","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/kamalas-opportunity-agenda-will-be-disastrous-for-african-americans\/1497264\/","title":{"rendered":"Kamala’s “Opportunity Agenda” Will Be Disastrous For African Americans"},"content":{"rendered":"

Kamala’s “Opportunity Agenda” Will Be Disastrous For African Americans<\/span><\/p>\n

\n

Via SchiffGold.com,<\/em><\/a><\/p>\n

With Kamala Harris rapidly fading in polls among African-Americans, her campaign just released a desperate \u201cOpportunity Agenda\u201d for black men <\/strong>outlining\u00a0policies that will have disastrous economic consequences<\/a>. Ironically, the consequences of \u201cforgivable loans\u201d are likely to be the most damaging to the very same groups that she\u2019s claiming to help.<\/p>\n

<\/a><\/p>\n

A \u201cforgivable loan\u201d is another way of saying \u201cfree money.\u201d\u00a0<\/strong>Printing $20,000 and handing it out to black entrepreneurs<\/a>\u00a0is only going to push prices up for the things those entrepreneurs need. Meanwhile, banks that get to issue the loans do so with no risk, because it\u2019s all backed by the Full Faith and Credit of you, the American taxpayer.\u00a0<\/p>\n

The idea is to get \u201cmission-driven lenders\u201d to issue the loans. This slathers a gloppy layer of do-gooderism over the fact that, most likely, these loans will be issued by the usual State-favored megabanks.<\/strong> After all,\u00a0they all have \u201cMission Statements,\u201d<\/a>\u00a0so who\u2019s to argue whether they\u2019re \u201cMission-Driven\u201d or not? They\u2019re all part of a criminal banking cartel that enjoys an incredibly privileged position in terms of being inextricable from the US political structure, first in line at the low interest rate and QE money printer.\u00a0<\/p>\n

Meanwhile, megabanks like Wells Fargo (owned by BlackRock, Fidelity, and Vanguard) have\u00a0stolen far more houses and cars<\/a>\u00a0than any street thief ever could,\u00a0preyed on Native Americans<\/a>,\u00a0opened millions of fraudulent accounts<\/a>, violated\u00a0international sanctions<\/a>, aided\u00a0money laundering<\/a>, along with other offenses.<\/p>\n

Having some guaranteed loans on the books also incentivizes malinvestment, encouraging banks to dump more money into risky bets in other areas.<\/strong> When you get some free money, you want to play with it. It\u2019s just human nature.<\/p>\n

Forgivable loans offered to a specific ethnic group even incentivizes discrimination against them.<\/p>\n

If loan officers know that African-Americans are getting forgivable\u00a0loans courtesy of the federal government<\/a>, they\u2019re more likely to charge higher interest rates even to black entrepreneurs whose loans aren\u2019t guaranteed. <\/strong><\/p>\n

Meanwhile, the Fed\u2019s inflationary policies cause the most pain to the lowest earners and the middle class.\u00a0<\/p>\n

While bursts of \u201ceconomic stimulus\u201d like those of the 2008 and 2020 crises juiced the economy in the short or medium-term, we\u2019re feeling the effects today in the form of drastically higher prices and\u00a0a middle class that continues to vanish<\/a>.<\/p>\n

Federal Reserve Total Assets (Less Eliminations from Consolidation)<\/em><\/p>\n

<\/a><\/p>\n

It all comes down to less competition in the marketplace, which inevitably leads to higher prices.<\/strong> No matter the context, nature or finance, humans respond to incentives, and markets are no different. That\u2019s why\u00a0no central authority can overcome the natural will of the market<\/a>, no matter how hard it tries. In the long run, nature always wins.<\/p>\n

Of course, the Harris campaign\u2019s \u201cproposal\u201d\u00a0 is a campaign season prop to buy votes, and wouldn\u2019t be enforceable without an act of Congress. But it\u2019s still a notable sign that the campaign is worried that being a black woman might not be enough for Harris to get back the black vote. While\u00a0it favored Biden, African-American support faded continuously<\/a>\u00a0throughout the course of his administration. For his part, Trump is promising a utopia of his own, and is a fan of the money printer as long as he gets credit, even making a point to ensure his name would appear on the inflationary Covid stimulus checks. As Peter Schiff recently said on Kai Hoffman\u2019s\u00a0Soar Financially,\u00a0<\/em>\u201cTrump is promising immediate results\u2014positive, no pain, just gain.\u201d But inflation is already baked into the cake.<\/p>\n

\u201cWe have, you know, inflation that masquerades as growth\u2026I think the economy is very weak, that\u2019s why the Fed is cutting rates, and they\u2019re going to cut them even more, and I think they\u2019re going to go back to QE.\u201d<\/em><\/strong><\/p>\n

Incumbent administrations love when the Fed juices the economy<\/a>\u00a0for them, since they can take the credit.<\/p>\n

But Kamala\u2019s campaign season pandering to \u201chelp\u201d African American entrepreneurs is going to create more of the inflation and discrimination that holds back disadvantaged groups<\/strong> in the first place.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 10\/19\/2024 – 12:50<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/political\/kamalas-opportunity-agenda-will-be-disastrous-african-americans<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Kamala’s “Opportunity Agenda” Will Be Disastrous For African Americans Via SchiffGold.com, With Kamala Harris rapidly fading in polls among African-Americans, her campaign just released a…<\/p>\n","protected":false},"author":0,"featured_media":1497265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1497264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1497264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1497264"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1497264\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1497265"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1497264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1497264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1497264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}