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Hochul’s Racism and Milei’s Hope on Display at the Milken Institute

Plus, Federal Reserve policy discussions at the 2024 global conference.

by | May 11, 2024 | Articles, Business News, Opinion

The Milken Institute, a non-profit independent economic think tank based in California, held its annual global conference this year. The organization hosted a jam-packed, week-long extravaganza of some of the top names in US and world affairs. From politics to monetary policy to birth rates, the event was nothing short of intriguing (and comical) commentary from prominent individuals.

Kathy Hochul Gaffes at Milken Institute

New York Gov. Kathy Hochul (D) does not seem to think very highly of black people. In fact, according to the left-leaning governor, black kids in the Bronx are unaware of computers. In a discussion of economic opportunities and artificial intelligence in low-income communities, Hochul did not refrain from espousing her soft bigotry of low expectations. “Right now, we have young black kids growing up in the Bronx who don’t even know what the word computer is. They don’t know, they don’t know these things,” she said. Hochul later apologized for her comments on stage at the Milken Institute.

Of course, this is comparable to Vice President Kamala Harris telling BET-TV in July 2021 that rural Americans do not know how to operate photocopiers or have access to Kinko’s, which is why voter ID laws would be a terrible concept for millions of voters.

‘New Mecca of the West’

Argentine President Javier Milei told the Milken Institute audience that the South American nation could become “the new Mecca of the West” in a “less free world.” The libertarian leader warned against threats of international socialism and championed free-market economics and Western values. “Today, for the first time in 150 years, and against the backdrop of an increasingly less free world, Argentina is becoming a freer country day-by-day,” he said. “Merit, ambition, freedom, innovation, and optimism are essential values. I want to invite you to bet on Argentina.”

Elon Musk to the World: Please, Make Babies

A plummeting birth rate keeps billionaire Elon Musk up at night. During his on-stage discussion at the Milken Institute, the SpaceX and Tesla CEO expressed concern over the potential “civilization risk” of a declining global population. “In terms of what keeps me up at night, I guess it’s anything that’s, like, I think, a civilizational risk,” he said. “The birth rates are continuing to plummet. I do think about the birth rates plummeting as being a civilizational risk.”

As Liberty Nation recently reported, the US fertility rate tumbled by 3% last year, reaching a historic low. Additionally, the Centers for Disease Control’s National Center for Health Statistics (NCHS) data suggested that more than three-quarters of nations worldwide will not possess high enough birth rates to sustain population size over time.

Interest Rates – Going Up, or Down?

John Williams, the head of the Federal Reserve Bank of New York, confirmed what the financial markets already knew: A cut to interest rates is “eventually” coming. Speaking at the Milken Institute conference, Williams explained that the US central bank will slash rates, but it can take its time because of solid growth and a robust labor market. For now, monetary policy “is in a very good place,” and officials can be afforded the luxury of collecting more economic data to determine when a rate reduction is necessary. “But it’s really looking at all the data,” Williams stated.

Despite Williams promising a rate cut in the future, Minneapolis Fed President Neel Kashkari was a little more blunt: Everyone needs to brace for high interest rates for an “extended period” and potentially for the rest of the year. He cited stalled inflation progress and housing market strength as reasons for this consideration. While Kashkari did not remove a rate hike from the table, the regional central bank chief argued that the bar for an increase is “quite high, but it’s not infinite.” He added: “There is a limit when we say, ‘OK, we need to do more.’ I think it’s much more likely we would just sit here for longer than we expect, or the public expects right now, until we see what effect our monetary policies have.”

Billionaire Slams Anti-Israel Protesters

Ken Griffin, a billionaire hedge fund manager, was none too pleased with the anti-Israel, pro-Palestine student protesters. He described them as byproducts of a “failed education system” and mocked the students who demanded humanitarian aid out of fear of starvation and dehydration. “I scratch my head—the audacity,” he said. “The students seize one of the halls, commit acts of vandalism and—I love this—and then try to negotiate for humanitarian aid.” This comes months after he accused elite universities of manufacturing a generation of “whiny snowflakes” as they are “caught up in the rhetoric of oppressor and oppressee.”

Different From the World Economic Forum

The Milken Institute and the World Economic Forum present the who’s who of the global economy. Despite the international flavor of the two events, however, they had different feelings. The former was more of an authentic discussion of international affairs, while the latter has served as an annual open confession of how to enslave the population and make life miserable for everyone. Milei touted freedom, Musk espoused the need for families, and a billionaire mocked progressive students. And, of course, the world witnessed another left-leaning authority figure promote concerning views of minorities. For these conversations, the Milken Institute deserves a round of applause.

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