Ed Driscoll

Bloomberg Plays the Race Card


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“House Republicans Set to Defy Obama Are Mostly White Men,” Bloomberg.com “reports:”

The core group of Republicans who are pushing the House toward a showdown with the White House over the debt ceiling and government spending is made up of 41 members — all white men except for two.

More than half are from Southern states, their average re-election vote was 65 percent and most have served for fewer than five years in the House.

As opposed to the man in the White House whose reelection vote was 51.1 percent, and who served in the Senate for about two years years before devoting all of his efforts towards hitting the national campaign trail.

In other words, it’s come to this: apparently having exhausted its supply of “unexpectedlys” whenever there’s bad economic news to report in Mr. Obama’s America, Bloomberg.com runs the above disgusting headline. In the past, the only color that fiscal policy had was green — the color of both money and the eyeshades of legend worn by the men in DC who control the nation’s purse strings

But as President Obama’s palace guard seeks to defend four and a half years of his failed economic policies, the nation’s economic policy itself is now racialist; a development that Holman Jenkins of the Wall Street Journal anticipated last month, when he described the how the left and the MSM (but I repeated myself) had a collective racial meltdown in the wake of Detroit’s bankruptcy:

[GM] made large pension and health-care promises to its employees. But President Obama put $50 billion into GM and now the problem is fixed and the government’s stake in GM came out to $40 billion.

But, you ask, doesn’t that leave a $10 billion shortfall for someone to shoulder? That’s old-style economics. Under the new economics, it’s possible to have losses without anybody recognizing losses. This is the lesson taught by Japan’s approach to its banking crisis in the 1990s and Europe’s treatment of its current fiscal woes.

But deeper matters are also at work in Detroit’s bankruptcy. “All along, the state’s involvement—including Mr. Snyder’s decision to send in an emergency manager—has carried racial implications,” the New York Times points out, referring to Michigan’s white governor Rick Snyder.

Exactly so. Under the old economics, shortages of money were believed to come from expenses exceeding revenues. The Times alludes to the new understanding of money shortages: They are racist in nature.

As economists have come to understand that money shortages are essentially illusory, if infinite and unlimited money is made available to some but not others, then only racism can be the reason.

Some will object that Detroit’s emergency manager, Mr. Orr, is black. President Obama is black. But Ben Bernanke is white.

Monetary racism is a relatively new branch of economic study. In fact, its pioneers are mostly found in the Yale English department.

But monetary racism will make great strides as a result of Detroit’s bankruptcy. Even now, graduate students across America are introducing racial codes into their spreadsheets to demonstrate that “white” institutions—GM, Citigroup, Fannie Mae—are more likely to be protected from shortages of money than “black” institutions, e.g., Detroit.

And now the president’s palace guard. But doesn’t Bloomberg know that fellow leftist Jon Stewart announced that their race card is now officially as bankrupt as both Detroit and increasingly, the Federal government, way back in 2010?

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
Race Card Is Maxed Out
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Related: “The MSM plan for the GOP & Tea Party: Divide and Conquer,” writes talk radio host Peter Ingemi on his DaTechGuy blog.