(PatrioticPost.com)- On social media on Wednesday, President Joseph Biden announced that he would ask Commerce Secretary Gina Raimondo to explore making the Pacific Ocean south of Hawaii a national marine sanctuary. The chief executive said, “That’s an area three times the size of Texas, greater than Alaska and Colorado combined.”
As the country is amid a financial crisis, Elon Musk criticized the White House for its tone-deaf announcement. The newly protected natural resources and its promotion of initiatives to combat climate change do nothing for people struggling financially.
Biden crowed that his government had “made the biggest investment to battle climate change” in American history.
Musk’s response, “Umm… the banks are melting,” received more than nine times as many likes and five times as many retweets as Biden’s initial tweet.
Moreover, Biden’s comments on conservation and environmental preservation follow the recent failure of Silicon Valley Bank, which required the Federal Deposit Insurance Corporation to cover deposits up to a higher amount than its usual $250,000 cap. Since then, government officials have rushed to convince investors that the financial system is stable and that the Biden administration would take fundamental steps to avert bank runs, with Treasury Secretary Janet Yellen leading the charge.
After two years of unprecedented inflation under Biden’s watch, monetary authorities have been obliged to risk a recession by raising interest rates. National Bureau of Economic Research researchers found that due to the reduction in monetary stimulus, bank assets are now worth $2 trillion less than their book value due to the decline in economic stimulus.
Musk, CEO of Tesla, SpaceX, and Twitter, has been outspoken in his criticism of the Biden administration’s seeming failure to prioritize economic growth. After hearing that the Federal Reserve will select its next vice chair with diversity in mind, he replied that the nomination choice “affects the lives of everyone.” The ability to “maximize expertise with monetary policy” was again stressed as crucial for someone in his position.
The Biden administration recently ordered top officials to create “agency equity teams” to ensure federal workforces are adequately diverse as part of its “whole-of-government approach to racial equality and assistance for underprivileged areas.”
These times call for the most qualified, not the most melanin.