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Economically/Financially Illiterate AOC
Posted by: Jennifer ()
Date: April 12, 2019 01:57AM

‘FINANCIALLY ILLITERATE’: Prominent Investor Blasts Ocasio-Cortez, Advocates Removing Her From Office


Tracy Maitland, president and chief investment officer of Advent Capital Management, blasted socialist Rep. Alexandria Ocasio-Cortez (D-NY) at the National Action Network gathering — where Ocasio-Cortez was widely criticized for using an accent while talking to the predominantly black audience — over her lack of financial knowledge and even said she may need to be removed from office.

"The people campaigning against the Amazon campus are financially illiterate," Maitland said, according to the New York Post.

After the event, Maitland told the Post: "This was a disgrace. I partially blame AOC for the loss of Amazon. She doesn’t know what she doesn’t know. That’s scary. We have to make sure she’s better educated or vote her out of office."

Ocasio-Cortez led the charge against Amazon which ended up costing New York 25,000 jobs and nearly $30 billion in tax revenue. She later exploded at critics who correctly noted that she had no idea what she was talking about when it came to the Amazon deal. Both Democrat New York City Mayor Bill de Blasio and Democrat New York Governor Andrew Cuomo slammed her for ruining the deal.

As Ocasio-Cortez has become more well-known, her poll numbers have taken a nose dive, as many Americans view her as far outside of the mainstream. At home in the Bronx, her constituents feel she is ignoring them in favor of having a national platform.

"A Quinnipiac poll released on Thursday morning found that 23 percent of Americans had a favorable view of the member of Congress, while 36 percent had an unfavorable view — a -13 overall approval rating," the leftist publication Vox reported. "This new poll isn’t a one-off finding. Three prior surveys — one in January from Morning Consult, one in February from Fox, and a third in mid-March from Gallup — all found that more Americans had negative views of AOC than had positive ones."

Another poll found that three times more people viewed her as a villain than as a hero after she sabotaged the Amazon deal.

Ocasio-Cortez's other fringe views have largely contributed to the decline in her poll numbers, including her call for banning all semi-automatic firearms and implementing a $93 trillion climate policy that is loaded with entitlement programs that will bankrupt the country.

Ocasio-Cortez has also faced a growing corruption scandal — there have been multiple FEC complaints filed against her and her chief-of-staff that allege serious campaign finance violations.

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Re: Economically/Financially Illiterate AOC
Posted by: Jennifer ()
Date: April 12, 2019 02:23AM

Illiterate, wrong and just a plan liar -

Alexandria Ocasio-Cortez accuses America of leaving jobless 'to die'


Rep. Alexandria Ocasio-Cortez, speaking to a SXSW crowd, ripped into America — again — and said that while the looming robotic culture and automated economy are things to embrace, the flip side is dire because, after all, this country is a society that simply leaves its jobless “to die.”

Hmm. Wonder where all those millions that taxpayers sent to food stamps and housing assistance and basic living aid went through the years.

Anyway, Ocasio-Cortez said this, when asked about the looming automation craze that is predicted to supplant human jobs, The Verge reported: “We should not be haunted by the specter of being automated out of work. We should be excited by that. But the reason we’re not excited by it is because we live in a society where if you don’t have a job, you are left to die. And that is, at its core, our problem.”

What an interesting theory.

But facts hardly support.

“SNAP, formerly known as the Food Stamp Program,” is the nation’s most important anti-hunger program, the Center on Budget and Policy Priorities wrote. “In a typical month in 2017, SNAP helped more than 40 million low-income Americans afford a nutritionally adequate diet.”

SNAP provides food for those at or below 130 percent of the poverty level, which in fiscal 2018, comes in around $26,600 per year for a three-person family.

Then there’s this, as Sapling wrote: “The U.S. Department of Housing and Urban Development provides housing grants to those who have experienced a job loss or a decrease in income. Programs are available to both homeowners and renters who need help with housing. … Several government agencies have provided funding to help distressed homeowners prevent the foreclosures of their homes. The Making Home Affordable Program helps homeowners who have lost their jobs obtain a forbearance on their mortgage payments.”

Food. Housing.

Then there are the federal programs that help with health care and even utilities.

Can you say Medicaid? How about CHIP — the Children’s Health Insurance Program? Or the Temporary Assistance for Needy Families, TANF, that actually doles out cash for low-income — read: unemployed — citizens who are trying to get back on their financial feet?

“We should be working [because of automation] the least amount we’ve ever worked, if we were actually paid based on how much wealth we were producing,” Ocasio-Cortez said. “But we’re not. We’re paid on how little we’re desperate enough to accept. And then the rest is skimmed off and given to a billionaire.”

And then the out-of-work are “left to die” by an uncaring, greedy capitalistic culture, she accused.

Well, once again, Ocasio-Cortez has the socialist sound bites — without the facts.

Fact is, America’s capitalistic society is what allows the government to skim so many dollars by way of taxation, to provide so much by way of housing, food, health care and basic living expenses’ aid to those who’ve lost their jobs, to those who are struggling to make ends meet. If it weren’t for capitalism and the free market, there wouldn’t be so much money in America for the poor.

As the former Prime Minister of England Margaret Thatcher famously said: “The problem with socialism is that you eventually run out of other people’s money.”

The problem with Ocasio-Cortez is she speaks of what she does not know.

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Re: Economically/Financially Illiterate AOC
Posted by: Jennifer ()
Date: April 12, 2019 02:28AM

Then there's this infamous f*ckup by AOC -

Ocasio-Cortez again proves she's clueless on economics


Rep. Alexandria Ocasio-Cortez, D-N.Y., exposed her economic ignorance again this week when she argued that bankers should be liable for borrowers' mistakes.

During Capitol Hill testimony from Wells Fargo CEO Timothy Sloan, Ocasio-Cortez contended that if in the event of an oil spill on the Dakota Access Pipeline, which Wells Fargo helped finance, the bank should be held responsible.

"If there was a leak from the Dakota Access Pipeline," Ocasio-Cortez asked rhetorically, "why shouldn’t Wells Fargo pay for the cleanup of it, since it paid for the construction of the pipeline itself?”

"Because we don't operate the project," Sloan responded. "We provide financing to the company that’s operating the pipeline.”

This is getting embarrassing.

Ocasio-Cortez’s point betrays a total naïveté about how financing works. Her contention is akin to claiming that a bank holding a car loan should be responsible if the owner gets into a crash. It's like saying a bank holding a home mortgage should pay to fix the pipes when they burst.

The socialist congresswoman misunderstands the role of credit in the economy. Credit exists to match capital to its most highly valued use. For entrepreneurs and small businesses, this means matching capital in search of ideas with ideas in search of capital. The United States' deep and liquid capital markets are a major reason for its economic productivity and success.

This access to credit allows entrepreneurs and homebuyers to achieve their small business and homeownership ambitions – the American Dream – without the lack of funds standing in their way. This is a big reason why the U.S. has the largest and most vibrant middle class in global history (notwithstanding the conjecture of Ocasio-Cortez and her fellow Democratic socialists). In many countries, you have to be born rich to succeed in business.

If Ocasio-Cortez had her way and lenders were held liable for their borrowers' business decisions, access to credit would dry up because banks would be forced to stop lending to all but the most established clients. Entrepreneurship and economic growth would contract. Economic inequality would increase, because the little guy would lose access to credit.

Ocasio-Cortez overlooks the reality that banks already have built-in liability for their debtors' mistakes. It's called the free market. If a business makes poor decisions and goes bankrupt, the loan will not be repaid and the bank will lose its investment.

Notably, the one area where there aren't consequences to risky lending is when it's done by the government; if Ocasio-Cortez wants to increase government liability for bad taxpayer loans to businesses, we'd support that.

Because they have skin in the game, banks obsessively examine the creditworthiness of their potential clients for potential business mistakes. The natural regulations inherent in the free market prevent banks from making overly risky bets on projects that could, for example, cause significant environmental damage.

Sloan made this exact point in his testimony on Tuesday: "One of the standards that we set in banking (for) any sort of industry that has various reputational issues is to make sure that there's a double check beyond just the normal credit underwriting that we would do."

Yet his bank concluded that the Dakota Access Pipeline was a worthwhile bet: "The reason we were one of the 17 or 19 banks that financed that is because our team reviewed the environmental impact and we concluded that it was a risk that we were willing to take."

This episode fits in with Ocasio-Cortez’s all-time greatest hits of economic ignorance. This album includes her support for a $15 minimum wage that put the coffee shop where she used to work out of business; pursuing a "Green New Deal" that would fundamentally transform the economy and quadruple the national debt; and chasing Amazon out of New York City because she didn't understand how tax credits work.

Of course, Ocasio-Cortez’s biggest economic folly is her general support of socialism – a thoroughly discredited system that the U.S. economy should be moving away from, not toward.

Alfredo Ortiz is President and CEO of the Job Creators Network, a non-partisan organization founded by entrepreneurs.

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Re: Economically/Financially Illiterate AOC
Posted by: Jennifer ()
Date: April 12, 2019 03:03AM

haha - Croissant-gate

Croissant-gate: Ocasio-Cortez outraged by inhumane cost of capitalist croissants at LaGuardia Airport


Not to worry, when Socialists take over there will be no croissants.


Ocasio-Cortez Advocates $15 Minimum Wage by Pointing to Expensive Croissants
Airport already has $15 minimum wage.


Rep. Alexandria Ocasio-Cortez (D., N.Y.) complained about the price of goods in an airport with among the highest wage prices in the country Monday. She claimed wages should be even higher, and prices somehow lower.

The self-described democratic socialist took to Twitter Monday to complain about the price in comparison to wages. She exclaimed that "Croissants at LaGuardia are going for SEVEN DOLLARS A PIECE."

She marveled that some would think it's "too expensive" to raise the minimum wage.

In reality, LaGuardia Airport in New York already has a $15 minimum wage. Andrew Kerr of the Daily Caller pointed out that LaGuardia has a higher minimum rate than the target number of most progressives. The Port Authority of New York and New Jersey approved a $19 minimum wage for many LaGuardia workers in September 2018. According to the New York Times, it is "the highest minimum wage target set by any public agency in the country."

Ocasio-Cortez did not need to drop seven dollars if she wanted a croissant, moreover. If she's willing to accept pastries from Au Bon Pain in LaGuardia's terminal C, she can get a croissant there for only $3.29, as the Washington Free Beacon confirmed in a phone call. In a separate call, a representative of Au Bon Pain in LaGuardia explained that the minimum wage is $15 per hour for some staff, $19 for airport workers in the new terminal.

Ocasio-Cortez has long called for a $15-per-hour minimum wage and in the past has used hyperbole to advocate her view. The Washington Post awarded "three Pinocchios" to the congresswoman for her claim that the "vast majority" of the country doesn't make a "living wage."


WaPo Fact Checker Gives Ocasio-Cortez ‘Three Pinocchios’ for Minimum Wage Claims


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Re: Economically/Financially Illiterate AOC
Posted by: riverhousebill ()
Date: April 12, 2019 04:49AM

Ecoonomically/Financially illterate AOC

Lets see her my dear did we miss anything?
Your post shows the Fear and smear! Fear of AOC Id say a very good sign.
so far list of panic AOC post. but but her accent!

AOC Job Failure.

AOC pulled a Hillary.

Unpopular AOC.

Idiotic AOC.

AOC's Absurd Grren New Deal.

You see, the mere thought of having a young, articulate, telegenic nonwhite woman serve is driving many on the right mad — and in their madness they’re inadvertently revealing their true selves.


Democrats Have a new jack ass Macot.

AOC Chief of staff ran one million $ slush fund by diverting campaign.

Funny Fake news story fake Hate Hoax commited this week involving AOC.

AOC questions for Cohen required major behind the scenes work bu her staff and
committee staff.

Green New Deal revails the naked thruths of Agneda 21.

AOC Green Idiotic.

Lib Fake news narrative about AOC designed to smear republicans.

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