Ever since he was sworn into office, President Joe Biden has been surrounding himself with corporate yes-men, as well as those deeply connected with potential insider trading information access. Unsurprisingly, this means even his closest advisors are connected with major corporations. Take, for example, Steve Ricchetti, who is the Counselor for the President. Steve’s brother Jeff is a long-standing lobbyist for General Motors, and Steve was doing it himself at one point.
Recently Politico reported to the Biden administration and buried a big nugget of information about his connections to GM. As well as how the Ricchetti brothers can connect to him directly.
“Jeff Ricchetti, whose brother Steve Ricchetti is a counselor to Biden, currently lobbies for General Motors. The company has paid its firm over half a million dollars since the start of 2021. Steve Ricchetti himself also lobbied for General Motors between 2001 and 2008, a few years before he became a counselor to then-Vice President Biden and later his chief of staff. Both of them lobbied the Senate for GM while Biden was a senator from Delaware, according to disclosure records.”
With United Auto Workers (UAW) currently on strike at Ford, GM, and Stellantis plants, the Biden administration is in a precarious position. At the heart of the debates is worker compensation. Wanting to be paid more and have their jobs better rewarded, they are finding themselves being priced out of the very vehicles they are producing. Meanwhile, people like GM CEO Mary Barra are raking in $29 million a year; 362 times the median GM employee salary.
As profits are soaring for these three, they have gone up 92% from 2013 to 2022 and now total $250 billion. With this level of profit, there is no reason to exclude employees from a higher wage. Under the Inflation /Reduction Act, these automakers are raking in tax deductions from making electric vehicles. As they become more profitable to force on the American people, these automakers increase their production.
Yet all these companies have done is slash and hack at worker wages, utilize more robots, and eliminate as many human positions as possible. While great for the bottom line and stockholders, it isn’t benefitting the American people as a whole. Numerous positions have been farmed out overseas, with some companies shipping parts and pieces back and forth multiple times because somehow it is cheaper to do that than to start another American-based factory or even re-open and retrofit old ones.
To end the strikes, UAW workers have simple demands. Better wages and guarantees that their jobs will remain in place, even as the Biden administration mandates that we continue to push EVs on the American people. With many unable to afford to make the switch, the Biden administration is trying to do everything they can to flood the nation with automobiles. Almost as if he either wants to leave people with no choice but to switch or to crash the price of the used market.
All of these scenarios will benefit the Biden administration. With his clear links with General Motors, it only ensures he will have the first opportunity to buy or sell shares as applicable with the news. Forgetting middle America, which lacks the charging network or even environment to properly use electric vehicles, they are putting the cart before the horse. If they want to push this product on the American people, they need to make it work for them.
When it fails, Biden and his flunkies will have built up more than enough shares and sold them off for a tremendous profit. The level of insider trading this kind of connection is providing the whole Biden regime is incredibly disturbing. Yet again, this stands as just another example of why the American people need to call their elected officials and demand the man be impeached. He has besmirched the sanctity of this office for the last time!!