LAS VAGAS, May 16, 2014 — President Obama’s Senior Advisor Valerie Jarrett attended the Skybridge Capital SALT 2014 hedge fund conference in Las Vegas from May 13-May16.
The Obama administration, ostensibly at arm’s length from the big investment players on Wall Street, is sending Valerie Jarrett to sin city to assure them that legislation which will enhance their profits, will be a high priority for the Obama White House.
There’s no surprise here, hedge fund managers are by and large, Democrats and they flooded Obama with campaign cash in 2008, while some others bankrolled Hillary Clinton. They are solidly against the moral values and political views of the majority of Americans; supporting abortion, the gay political agenda, gun control and open borders. You will be hard pressed to find any among them that favor limited government.
This is also true of the investment class in general and of corporate America. Most don’t know that in the span of about 10 years, Warren Buffett has donated to Planned Parenthood, NARAL and Buffett’s own charity, The Susan Thompson Buffett Foundation, a total of $1.2 billion dollars.
When Obama vocally panders to the element within his party that distrusts the casino gambling behavior on Wall Street, he dog whistles to his Democrat friends in the financial centers that they have nothing to worry about, it’s all merely political Kabuki.
What was Ms. Jarrett’s forecast to the hedge fund managers in Vegas? It was that House Speaker John Boehner has pledged to the Obama administration that he will attempt to push amnesty through Congress in the next three months:
“We have a window between now and August where I actually think we can get something done,” she said. “When you have that many people for us, you have to say this is an opportunity we should seize and we have to make sure that our voices are heard.”
Jarrett honed in on two key issues – immigration and income inequality, that have a relationship to one another that is not favorable to Main Street America. On one hand, Jarrett proposes the need to increase the minimum wage and on the other, a legalization of the 8 million that are already taking American jobs. Amnesty will be a magnet for another wave of illegal border crossing.
So an increase in minimum wage is nothing more than gesture politics. Employers will dump their existing minimum wage workers and replace them with new ‘undocumented’ arrivals. It wouldn’t matter if the minimum wage was increased to $25.00 per hour, if employers can find non-citizens for sub wages. It’s kind of a “heads I win, tails you lose” proposition for employers.
Obama “does not believe, in this country, you should have to raise your children in poverty. The thing that’s interesting about it is you find cities and states around the country are acting on their own, private employers are acting on their own. The feeling in this country is it’s time to raise the minimum wage.”
Raising minimum wage is not the solution, but nobody in Washington wants to address the elephant in the room – illegals and the need to enforce immigration law and implement eVerify, the program that ensures individuals are authorized to work in the United States. Labor, in an economy devoid of central planning, operates according to supply and demand. Dry up the supply of imported labor and demand and wages rise naturally. The working class is is precisely where we need to see wages rising because this is where money that is earned circulates in the local and state economy, not in the closed loop of Wall Street and Washington D.C.
“If we can’t get it done in Washington, then we’re going to get it done at the local level. We’re not the perfect union yet. We’re a work in progress. Collectively, we can make a huge difference.”
This comment is pregnant with contradictions. Constitutional government means that you don’t “get it done in Washington” to begin with. Indeed, we would be better off if the federal government’s reach was shortened dramatically. She likes the word “collectively”, because it hints at a revival of the Soviet system of central control and the state appointing ministers, heads of State committees and commissars from among the oligarch class, i.e., the 1 percent – or perhaps more likely, the 0.1 of the 1 percent.
There is no doubt that Obama and both political parties will execute a full court press to help the Washington / Wall Street Axis destroy the wage structure even further and take another run at the 2nd Amendment.
This is one of those times when you hope and pray that what happens in Vegas…