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Zero Hedge — Kerry For Climate Chief, Buttigieg For Veterans, Yates For DOJ: An Early Look At The Biden Cabinet

Summary:
But it is expected that Biden will pick from the establishment base. No progressives on this list. For one thing, they probably could not get confirmed by a GOP Senate anyway, and given all the talk of unity and bipartisanship, Biden would want to avoid picking fights out of the gate. Progressive will likely get some bones thrown to them to chew on, but it doesn't look like it will be cabinet level. The prognosis is a return to hawkish foreign policy, pleasing the military-industrial complex, and more of the same old crony capitalism domestically under the guise of some social contributions. But identity politics will continue to prevail socially, and the trend will still be toward a debtor society economically, rather than an ownership society. The "ownership society" was based on

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But it is expected that Biden will pick from the establishment base. No progressives on this list. For one thing, they probably could not get confirmed by a GOP Senate anyway, and given all the talk of unity and bipartisanship, Biden would want to avoid picking fights out of the gate. Progressive will likely get some bones thrown to them to chew on, but it doesn't look like it will be cabinet level. 

The prognosis is a return to hawkish foreign policy, pleasing the military-industrial complex, and more of the same old crony capitalism domestically under the guise of some social contributions. But identity politics will continue to prevail socially, and the trend will still be toward a debtor society economically, rather than an ownership society. The "ownership society" was based on residential housing and that is just another form of indebtedness for most.

Zero Hedge
Kerry For Climate Chief, Buttigieg For Veterans, Yates For DOJ: An Early Look At The Biden Cabinet
Tyler Durden

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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