Vanity: Cato Elitist Says Bringing Back Manufacturing Jobs to U. S. = Racism

Vanity (Zero Hedge) ^

[TigerClaws]

Another astonishing clip from the Cato Institute event today, this one from the influential Adam Posen, head of the Peterson Institute. He says a focus on domestic manufacturing is simply a “fetish for keeping white males with low education in the powerful positions they are in.”

[TigerClaws]

Jobs creating a strong working middle class = racism?

Psychos. We need to export more “experts.”

(Posted as vanity as not a full source ‘news’ story yet and unlikely to be one.)

[cranked]

CATO has long advocated for the de-industrialization of the US given its overall globalist agenda.

[ConservativeInPA]

That’s from the Cato Institute? Boy, libertarians sound like leftist racists these days.

[EEGator]

Another Harvard genius.

[BitWielder1]

When you've run out of every rational argument, or never had any, resort to accusation of racism.

[oldplayer]

Harvard grads trying to appear as knowledgeable elitists should not end a sentence with a preposition. (After reading the lead-in, I stopped right there.)

[silent majority rising]

My guess is that Adam Posen won’t be voting for Trump.

[chajin]

That’s from the Cato Institute? Boy, libertarians sound like leftist racists these days.

Ditto. Cato the Younger is spinning in his grave.

[silent majority rising]

Checked his bio and he is definitely a ‘fat boy’ from the Washington DC Dung pile.

[HereInTheHeartland]

“He says a focus on domestic manufacturing is simply a “fetish for keeping white males with low education in the powerful positions they are in.”

This is what the Martha’s Vineyard crowd believes.
And they know more than we do. That’s why they have to be in charge and force 100 miles to the charge electric cars on us.

[GingisK]

The idiots are making racism sound imperative.

[TwelveOfTwenty]

So he's calling the Democrats racists for the CHIPS and Science Act.

It's rare that I agree with the current crop of Democrats on anything, but I'll support the CHIPS and Science Act over this nonsense.

But that doesn't mean I'll forget they obstructed President Trump in his efforts to bring American manufacturing back and vote for them either.

[No.6]

The mask or veneer is long off.

All their attack words ... racism, sexism, equity, (insert word here) justice, (anything)-phobic ... all mean one thing.

The thing they’re attacking is good for Americans and for everyone. The thing they want instead benefits communists and would-be elites and harms everyone.

There’s no point in ‘debating’ on each issue because that’s the beginning and end of their philosophy. All the facts are on our side, truth is on our side, but laboriously refuting their BS is one of the ways they get us wasting our time while they concentrate on the more important things like actually achieving their goals and rigging elections so that truth and public opinion become irrelevant.

Since there’s no sense in their approach, the effective response is not engaging in the marketplace of ideas, or well-minded refutations, but mockery, satire, and ridicule. Thus the efficacy of ‘meme wars.’

If you want an analogy, we occupy the high ground of truth like a sentry on a wall. They’re busy sapping under the wall to collapse it. The way to take out sappers is to counter-sap — messy, dirty, underground, effective.

[hflynn]

Making people work for a living has been racist since a government check in every mailbox, a Covid vaccine in every arm, an illegal alien in every neighborhood .........

The only thing that can cure this racism is a daily bus of illegal aliens into every democrat controlled city, state, town in the United States. It's possible to do because the flow of illegals is the only supply chain that Biden hasn't disrupted.

[DoodleBob]

Poster boy for white privilege.

Posen was born in Brookline, Massachusetts. He received a PhD in Political Economy and Government from Harvard University, where he was a National Science Foundation (NSF) Graduate Fellow, after graduating from Harvard College in 1988.[citation needed]

His research focuses on macroeconomic policy in the industrial democracies, G-20 economic relations, the resolution of financial crises, and central banking issues. He has been a consultant to the IMF and to several US government agencies, as well as to the British and Japanese Cabinet Offices, and a visiting scholar at central banks in Europe and East Asia, and in the US Federal Reserve System. From 1994 to 1997, he was an economist in international research at the Federal Reserve Bank of New York and from 1993 to 1994 was Okun Memorial Fellow in Economic Studies at the Brookings Institution. He was a Bosch Foundation Fellow in Germany in 1992 to 1993, where he worked for the Bundesbank in Frankfurt and for Deutsche Bank in Berlin. He has also been a Public Policy Fellow at the American Academy in Berlin (2001).[2] In 2006 he was a Houblon-Norman Senior Fellow at the Bank of England, on sabbatical from Peterson Institute for International Economics.

[mythenjoseph]

Common sense shows that when you manufacture as many goods that your nation consumes it generates multiple other avenues for businesses such as food/fuel/automotive/roads etc...and keeps money and employment opportunities open to any that want to work. Must be easy to spew such idiocy when you are paid to ponder without generating anything tangible.

[Tom in SFCA]

Total commie. Walking stereotype. Every single time.

RITHOLTZ: Yes. Couldn’t agree more. No one country has a monopoly on good ideas and we certainly should borrow freely.

Our final question, what do you know about the world of economics, international relations, politics today that you wish you knew 25 or so years ago when your career was just ramping up?

POSEN: You were kind enough to send me a list of questions. This one was the hardest one, actually, for me to think about ahead of time. I don’t know why because it’s perfectly reasonable question.

I guess the main thing that I wish I had known 20 years or 25 years ago that I didn’t was just frankly to be more woke, that how much, despite my liberalism and fancy education and attempted objectivity, I had overlooked a lot of the fundamental injustices in the world and I had overlooked a lot of our history and I am very ashamed to this day of how late I was to waking up to some of them.

RITHOLTZ: That’s really interesting. We’re recording this on election day, so we don’t know what the outcome is. But arguably, the reaction of much of the public to not just the racial injustice and the killing of unarmed African-American males or anyone for that matter, but the police response to peaceful protest, I think a lot of people who were not, quote-unquote, “woke” were very much shocked by that behavior.

POSEN: Yes.

RITHOLTZ: It’s not what you think of when you think of as America, at least in privileged wealthy white society. It’s not what you think of …

POSEN: Exactly. And I’m just so ashamed of that. I remember — I mean, obviously it matters much more to save innocent people’s lives than whether I’m ashamed or not ashamed about that, but I am ashamed of it. I remember one of the first times I went abroad which was in 1990. I went to a conference for economic students in Italy, a bizarre conference but got me there.

Anyway, and I remember talking with somebody who was from Spain and this person was saying to me, you Americans think you’re so free, when I was there, the state police are walking around like the fascist we used to have in doing this and that. And I remember being horrified that he could say such a thing and how could I think — how could he think that? He must be totally wrong.

And I had always made the comfortable assumption, yes, if you’re black or even Jewish, you don’t want to be driving alone in Alabama, sure. But overtime, it’s all going away. And that was, obviously, totally oblivious to the reality of life for, particularly, black males but all kinds of people in the U.S. And the behavior of police.

And it’s just- we don’t know as you just said, if election day, we don’t know what’s going to happen but I hope, whoever wins, we have to try to be more just and not kill innocent people. It shouldn’t be that hard.

https://ritholtz.com/2020/11/transcript-adam-posen/

[alloysteel]

It is to boggle the mind.

So, bringing the jobs back to the United States is “racism”. How is that, exactly? Taking jobs away from the “persons of color” who reside in another country ALTOGETHER? How about making available good-paying local jobs for “people of color” who live right here in the United States as US citizens?

And while you are concerned so much about skin pigmentation, white is a color, and yes, white lives matter, as so famously made known by Kanye West.

[ConservativeInPA]

We can say the same about Buckley over the National Review.

[Tom in SFCA]

It’s worth considering the possibility that WFB’s assigned role was to prevent conservative America from truly waking up and responding effectively to the communist takeover of our country until it was already too late.