There may be worse choices to lead President Joe Biden’s fight against inflation — Vice President Kamala Harris immediately springs to mind.
But Brian Deese’s role in Biden’s new and belated “laser focus” on inflation is more of a proof that Sleepy Joe is either clueless about policy or not serious about one of the most serious economic problems facing average Americans.
Deese is a madman in charge of the shelter. His economic policies are one of the main reasons why we are facing 8% inflation (a sneaky tax on the working class) and the markets are signaling a potential recession.
Worse, he shows no signs of changing course as his power grows. Treasury Secretary Janet Yellen wouldn’t wait long for the government, possibly after the midterms, to see the inflation threat before it was too late.
High on the shortlist to replace her is staff-favorite Secretary of Commerce Gina Raimondo, and perhaps Gary Gensler, the hyper-ambitious and progressive chair of the Securities and Exchange Commission who has left-wing Senator Elizabeth Warren in his corner.
While Yellen’s situation is being resolved, Deese, director of the president’s National Economic Council, is Biden’s inflation and economic go-to man, I’m told. My DC sources say that Deese was the main word-maker behind a recent op-ed in The Wall Street Journal in which the president finally admitted that inflation isn’t going to go away anytime soon. (Deese recently admitted the same thing to Fox News; he declined to comment further).
Deese is fine as a baloney or ghostwriter for the president (he’s actually pretty good BS’ing on TV), but he shouldn’t come close to setting policy for a nearly $25 trillion economy.
His resume is far too steeped in progressive policies and politics that are at the heart of our inflationary woes.
Consider: Fresh out of Yale Law School, Deese broke his teeth into government as a key economic adviser to Barack Obama, the president who famously used his community organizer skills in an effort to transform the U.S. economy into something Saul Alinsky is proud of would be .
Deese worked on Obama’s automatic bailouts and honed his reputation as a super-progressive in handling the automarkers.
After a journey through the budget and economic bureaucracy of the administration, he took a sliver of private sector work at BlackRock to promote a progressive investment craze known as ESG or Environmental Social Governance.
Deese spent three years as the global head of sustainable investing at the $10 trillion wealth management company, begging money managers to screen companies that didn’t meet the strict environmental standards of progressive influencers.
For example, under ESG guidelines, oil companies are being begged to reduce their drilling and investment in wind turbines — threatening that BlackRock could divest or change management.
Due to the size of BlackRock, these edicts were adopted by other investment firms.
The wrath of awake
As we all know, corporate America chose to adopt ESG standards rather than face the wrath of awake investors.
It’s one of the reasons the US is so dependent on foreign oil for our energy needs – and why gas prices soared before the oil market was disrupted by the Russian invasion of Ukraine.
Another reason is that after he left BlackRock and joined Biden’s White House, Deese was one of those in charge of implementing these awakened corporate edicts into national fiscal and energy policy.
Biden’s unnecessary spending, massive new regulations and the hurdles his White House has placed on domestic oil production, combined with the Fed’s printing money, naturally created the inflationary mess.
Not only is this Deese’s work, but he would have had a heavy hand in any of them.
With Yellen being sidelined, his hand is getting stronger, which is why you see him so much on TV these days.
But for all his TV talk of trying to fix inflation, his remedies remain more of the same: a heavy emphasis on green buoys and less drilling, which has led to higher gas prices and inflation that we’ll all have to suck up and live while the economy is going through a necessary ‘transition’.
At BlackRock, Deese’s longtime boss, Larry Fink, has reconsidered his company’s ESG goals, arguing that such standards are too drastic to be achieved overnight.
Inflation and social unrest are inevitable without a transition to reduce the country’s carbon footprint, which will take time.
Good for him, but too bad for the American people.
Deese hasn’t received Fink’s memo, or simply refuses to read it.