No Minister

Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital.

with 4 comments

That’s the title of an economic thesis written decades ago at Moscow State University by an American student, attending courtesy of something called the Lenin Personal Academic Scholarship.

The person is one Saule Omarova, who is now a law professor at Cornell Law School. After graduating from Moscow in 1989 she returned to the USA where she got a PhD from the University of Wisconsin. She’s also still in love with the USSR:

“Until I came to the US, I couldn’t imagine that things like gender pay gap still existed in today’s world. Say what you will about old USSR, there was no gender pay gap there. Market doesn’t always ‘know best,’” she tweeted in 2019.

Ms. Omarova thinks asset prices, pay scales, capital and credit should be dictated by the federal government. In two papers, she has advocated expanding the Federal Reserve’s mandate to include the price levels of “systemically important financial assets” as well as worker wages. …

In a recent paper “The People’s Ledger,” she proposed that the Federal Reserve take over consumer bank deposits, “effectively ‘end banking,’ as we know it,” and become “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.”

Perhaps she’s not aware that the USSR lost the Cold War and fell apart, revealing to the world what a complete sham its communist economy had always been.

By escaping the USSR she’s managed to live the typical wealthy lifestyle of a professor at one of America’s premier universities and is now ready to move on to other things.

Like running America’s banking regulatory system.

Joe Biden has nominated Saule Omarova to be Comptroller of the Currency. It is an important position. According to the Comptroller’s web site:

The OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury.

Because of course this is what moderate, slighty left-of-centre Democrat Presidents do.

This is insane. Her nomination should be rejected with prejudice.

Is there anybody out there who still thinks it was a great idea to swap President Trump for Joe Biden?

Written by Tom Hunter

October 8, 2021 at 12:03 pm

4 Responses

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  1. It’s pretty evident at this point that the Biden presidency is a hollow one, run by hydra of interest groups. None of which represent the people of America.

    History record this as the hollow presidency.

    Alloytoo

    October 8, 2021 at 2:59 pm

    • I agree. People seem to think I “hate” Biden because I’ve written about so many of his defects but I just think he’s a dim, senile old man who’s not really in charge. Still, he’s the front man and as the saying goes, the buck stops with him.

      Tom Hunter

      October 8, 2021 at 3:10 pm

    • The Biden administration has OBAMA written all over it. I reckon they are grooming Michelle to run against Trump.

      adolffinkensen

      October 8, 2021 at 3:42 pm

  2. A few eager socialist types in NZ government who will soak it up as well.

    Kevn

    October 8, 2021 at 5:26 pm


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