Kamala Harris' "Opportunity Agenda" May Have Negative Impact on African Americans

Kamala Harris' campaign recently introduced an "Opportunity Agenda" for African American men, which includes policies that may lead to negative economic outcomes. Among these policies are "forgivable loans" that could potentially harm the very groups Harris aims to assist.

"Forgivable Loans" and Their Implications

A "forgivable loan" essentially equates to "free money." The proposal to print $20,000 and distribute it to African American entrepreneurs could lead to an increase in prices for the resources these entrepreneurs require. The banks issuing these loans face no risk, as they are backed by the Full Faith and Credit of the American taxpayer. The plan involves "mission-driven lenders" issuing the loans, which could potentially be the usual state-favored megabanks. These banks are part of a banking cartel that is deeply entwined with the US political structure and benefits from low interest rates and QE money printing.

Impact on Megabanks and Malinvestment

Megabanks, like Wells Fargo, have been involved in various offenses, including theft, fraud, and violation of international sanctions. Having guaranteed loans on their books could encourage these banks to invest more money in risky ventures. The provision of forgivable loans to a specific ethnic group could also incentivize discrimination against them. Loan officers, aware that African Americans are receiving forgivable loans from the federal government, may charge higher interest rates to black entrepreneurs whose loans are not guaranteed.

Effects of Inflationary Policies

The Federal Reserve's inflationary policies often hurt the lowest earners and the middle class the most. Short-term "economic stimulus" measures, like those implemented during the 2008 and 2020 crises, have led to significantly higher prices and a shrinking middle class.

Political Implications and Inflation

The Harris campaign's proposal is a campaign tool aimed at securing votes and would require an act of Congress to be implemented. It reveals the campaign's concern that Harris' identity as a black woman may not be enough to secure the African American vote. Meanwhile, President Trump is promising his own utopia and is a fan of the money printer, as long as he receives credit. However, inflation is already a given.

Conclusion

While the intention to assist African American entrepreneurs is commendable, Kamala Harris' campaign's proposal may lead to more inflation and discrimination, which could further disadvantage these groups.

Bottom Line

While well-intentioned, policies such as those proposed by Kamala Harris' campaign can sometimes have unintended negative consequences. It's important to consider the potential economic impacts of such measures on the very groups they aim to assist. What are your thoughts on this matter? Share this article with your friends and let's get the conversation started. Don't forget to sign up for the Daily Briefing, which is delivered every day at 6pm.