In May of 2021, Biden made remarks about his economic policy while taking a victory lap for passing the "American Rescue Plan":
"This plan is historic. Taken altogether, this plan is going to make it possible to cut child poverty in half. Let me say that again — it’s significant, historic: It will cut child poverty in half. There’s much more to this bill, but, for now, let me make one final point. When I was elected, I said we were going to get the government out of the business of battling on Twitter and back in the business of delivering for the American people, of making a difference in their lives, giving everyone a chance — a fighting chance, of showing the American people that their government can work for them. And passing the American Rescue Plan will do that."
A couple months before that historic speech, Biden was touting the diversity and intersectionality of his administration's economic leadership. The media praised this of course, with NPR writing in March 2021:
"Women and people of color are notoriously underrepresented in economics. Only 14% of full professors are women, and one survey found only 1.6% Black faculty in the economics departments of the 30 highest-ranked universities. President Biden has managed to find several highly accomplished economists who are not just women but are also Black, and has placed them in top posts in his administration."
That's how it started.
Nearly 18 months later, Biden's Magic 8-Ball says: "Outlook Not Good."
If you read the market news today, you will see words like, "craters," "plunges," "spirals," and "perilous."
Turns out, it takes more than race and gender profiles to run the US economy. It takes competence.
Reporting from CNN actually shows the depth of the problem: "Investors don't have many places to make money at the moment: In addition to sinking stocks, the bond market is also selling off, sending US Treasury yields soaring to 11-year highs in recent days. The 10-year yield fell back a bit Friday but remains near 3.7%, and the 2-year yield is above 4.1%. That's a much better return than you can get with stocks these days, so high bond yields are adding pressure on the stock market."
The CNN piece closes with an ominous warning:
"In other words: There's much to worry about on Wall Street. CNN Business' Fear and Greed Index has fallen solidly into 'Fear' mode in recent days and is nearing 'Extreme Fear.' Investors don't see much to smile about on the horizon."
While being touted as "economic giants," the affirmative action team driving Biden's fiscal policy is failing to relieve the American middle class. They are succeeding, however, in bringing about The Great Reset.
So, they'll probably get promoted.