Fischer at Fed

I am not happy about Obama's nominating Stanley Fischer to be vice chairman of the Fed.  Fischer, a dual national, has just completed a term as chairman of Israel's central bank. He has a distinguished record at MIT and the IMF, but I would prefer a Fed governor who does not have divided loyalties.  He can be a dual national or a senior US official, but I don't think he should be both.  If he wants to be Fed vice chairman,he should renounce his Israeli citizenship.  That may be impossible since all Jews have a right of return to Israel,but somehow he should demonstrate that if US and Israeli interests conflict, he will represent the US.

In addition, Paul Volcker, Alan Greenspan, Ben Bernanke, and Janet Yellen are all Jewish.  It looks like Jews control the banking system in the US.  Now we will have as the second-ranking Fed official a man who is not only Jewish; he is Israeli.  Anglos and Christians need not apply. Jews control most of the banking system in the US.  Even if you have a bank CEO who is not Jewish, like Jamie Dimon at JP Morgan Chase, I'm sure he has lots of senior Jews just beneath him.

I am not worried about Jews per se; they are not a monolithic group; they are Republicans and Democrats.  But I worry that .some Jews represent the tiny Israeli tiny tail that often wags the US dog, not only regarding financial and economic policy, but in foreign affairs and military policy as well.  I think Volcker and Bernanke were excellent Fed chairs, but what if we have conflicting interests with Israel, over exchange rates for example.  I would prefer that senior US officials be 100% American.

Israelis from Texas and Alabama Attack Kerry

I just happened to flip on to C-SPAN's coverage of Secretary of State Kerry's testimony before the House on the nuclear agreement with Iran.  I was appalled at the questioning by Congressman Ted Poe from Texas' 2nd District and Congressman Mo Brooks from Alabama's 5th District.  They appeared to be representing Israel rather than America.  They appeared to be hired agents of a foreign power, not loyal Americans.  Texas 2nd District is famous as the seat of Charlie Wilson, of "Charlie Wilson's War" book and movie fame.  In the movie, Tom Hanks says as Charlie Wilson that he is supported by lots of Jewish money from New York; all he has to do is support Israel and make sure his constituents can keep their guns.  It looks to me like these congressmen have sold out to Jew money, like Judas did when he betrayed Jesus.  Israel may be a fine country, but it is not the United States of America.  These guys should be loyal to America and love this country. They should put America first.

Aparthied in Israel

The passing of Nelson Mandela reminds us of his fight against apartheid in South Africa.  Apartheid still exists in places around the world, one of which is Israel.  Israel legally imposes strict bias against non-Jewish people who live in or near Israel.  The most obvious, of course, is the Palestinian population that lives in Israel, but there are other affected populations.  How many blacks live in Israel?  There are groups of blacks who claim to be descended from Jews for hundreds or thousands of years, but they are not particularly welcome in Israel.  In general there is a huge Israeli bias against people who are not Jews.  There may be reasons for this, going back to the Holocaust or discrimination against Jews by gentiles for thousands of years, but that does not erase the fact that discrimination by Israelis exists.

There are many countries that engage in worse racial discrimination than Israel, but Israel claims to belong to the advanced group of civilized countries who were united in their opposition to South African apartheid.  Israel developed its nuclear bomb program in cooperation with the old, white, pre-Mandela South African government, with which it maintained close ties throughout its existence.  There is a legacy of discrimination that Israel needs to overcome.

Israel needs its own Nelson Mandela.

Income Inequality Forever

I am disappointed that the new budget deal did nothing about income taxes.  The budget deal a year ago carried over most of the Bush tax cuts.  One group said that it carried over 82% of the tax cuts.  These low taxes guarantee that income inequality will continue indefinitely.  While some rates went up a little a year ago, income taxes are still extremely low by historical standards.  That is certainly a major contributor income inequality.  There are a lot of other factors, including outsourcing and the displacement of human workers by computers, but the easiest way to rectify income inequality would be by implementing a more progressive tax structure which would tax higher incomes at a higher rate.  This would not affect many of the underlying issues favoring capital over labor in the financial market, as described in the book Race Against the Machine, but it would ameliorate the rate of destruction of the middle and lower classes in the US, ideally giving us time to address the more fundamental structural issues.