Fed Chief Jay Powell said he is unaware of inflation's impact on different economic classes.
"I’m not aware of um, you know, inflation literally falling more on different socioeconomic groups. That’s not the point. The point is some people are just really prone to suffer more."
Classless, clueless or incompetent? Better said:
Some classes of people are easier to ignore in our system governed by people beholdened to the billionaire class, who believe their excessive bounty is due to their superiority and/or God given blessings.
Powell is a former Managing Director for The Carlyle Group, a politically connected private equity underwriter PEU).
Former Carlyle co-CEO Glenn Youngkin is now Governor of Virginia. Glenn doesn't see society's cast-outs, people disadvantaged based on skin color, socioeconomic class or who they love. However, Governor Youngkin does not want white children to become uncomfortable while learning about Virginia's sordid history of slavery and how its vestiges remain, establishing a hotline for triggered parents. Discomfort is often a key aspect of learning.
Glenn established a breakaway Anglican church in his basement as God does not work through gay people, specifically gay Episcopal bishops. This act of disunity shows Youngkin's ability to divide people in the name of Christ's Gospel. His campaign pointed out the Jeffrey Epstein speck in his opponent's eye while ignoring the log in his own.
PEUs cannot get enough money, power or preferential treatment under the law. They sacrifice their marriages and families on the altar of grand returns. Financial alpha can occupy time and energy, but will not fulfill. Their unwillingness to pay fair taxes on their winnings is longstanding.
“No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money."
Youngkin was so committed to his political campaign he loaned it $20 million. At what interest rate? Youngkin and Co. provided in-kind assistance of $242,000. He expects a return on his investment and will steer the state budget to his PEU friends. Expect more power, more money, more rewriting the rules to benefit his class.
Common people are prone to just suffer more, while the billionaire class remains entrenched and garners virtually all the economic winnings. The Powell's and Youngkin's ensure it.
Update 1-28-22: Carlyle co-founder David Rubenstein, savior of PEU preferred "carried interest" taxation, sits on the Investment Advisory Committee of the New York Federal Reserve Bank. In this role Rubenstein serves himself.
Update 1-31-22: "Youngkin raised about $2.2 million in around six weeks before even taking office, despite being barred by state law from seeking consecutive terms." He needs his campaign to pay him back for the $20 million in loans. It's Glenn's latest big money wash. First, it was PEU the it was politics.
Update 2-1-22: The big money wash occurs under the pretense of business or politics, but they have merged into America's Government-Corporate Monstrosity.
"These are peoples that have lost the power of astonishment at their own actions. When they give birth to a fantastic fashion or a foolish law, they do not start or stare at the monster they have brought forth. They have grown used to their own unreason; chaos is their cosmos; and the whirlwind is the breath of their nostrils. These nations are really in danger of going off their heads en masse; of becoming one vast vision of imbecility, with toppling cities and crazy countrysides, all dotted with industrious lunatics.” -- G.K. Chesterton, In Defense of Sanity
The Blue Team is disappointing as they are unable to stop the money churn amongst insiders, however the Red Team appears to be clinically insane.
Update 2-6-22: Economic bully Glenn Youngkin has the might of the Office of Governor to push people around. Picking on a high school student is bad form.
Poor choice, Gov. Youngkin.
Update 2-7-22: Fed Chief Jay Powell's financial disclosure reports reveal he hid multiple trades of securities during his tenure on the Federal Reserve board. Powell was appointed for his financial expertise, as were his Fed peers. It is not credible that they don't have the knowledge or skills to complete the forms correctly. Greed and leverage boys always have something to hide.
Update 3-5-22: PEU Youngkin wants the "E for equity" removed from Virginia government. Does that make him a PU Governor?
The crusade against equity strikes Del. Don L. Scott Jr. (D-Portsmouth) as especially confounding because Youngkin took such a different tone when he led the Carlyle Group. Youngkin and co-CEO Kewsong Lee hired a chief diversity officer and put out a strongly worded statement condemning “racism and injustices” in the aftermath of George Floyd’s murder by Minnesota police in 2020.
