What’s Happening:
Recently, we learned about how Sen. Joe Manchin sided with Senate Republicans to defy Joe Biden’s latest “woke” move. The White House is trying to force investors to put your retirement money into left-wing sources, also known as “ESG.” This is yet another way Democrats are trying to politicize every aspect of our lives.
The West Virginia Democrat joined with Senate Republicans to pass a bill blocking Biden’s move. It will take some work, though, to stop Biden’s latest socialist scheme–which could result in the loss of your retirement fund. And now, over 100 organizations and top leaders have come out in response to Manchin’s decision.
From Fox News:
More than 100 conservative leaders and groups organized by former Vice President Mike Pence’s political advocacy group are backing a new resolution from Sen. Mike Braun, R-Ind., and Rep. Andy Barr, R-Ky., that would block a move by the Biden administration to promote a “woke capital agenda.” […]
“According to research from the University of Chicago, mutual funds scoring highly on ESG factors are constantly outperformed by funds rated lowest for ESG,” the letter states. “Moreover, 85 percent of the country does not even know what ‘ESG’ is, and therefore would not be aware of the financial risks their retirement account managers are subjecting them to when they actively pursue ESG investment decisions.”
Soon after Sen. Manchin came out in defiance of Biden’s latest scheme, over 100 groups joined forces to back him. Advancing American Freedom, a movement organized by former Vice President Pence, issued a demand to Congress to stop Biden’s woke move. The letter has been signed by over 100 conservative groups.
They explained that mutual funds that invested heavily in ESG sources underperform. Gee, imagine that? Money thrown at socialist causes don’t have a good ROI!? Mutual funds that instead focus on investing in industries that, you know, actually make money see a much better return.
The ESG movement is just an attempt to politicize the investment world. Biden and his socialist goons are trying to force banks to throw money at “green,” “social,” and “big government” issues. All of which don’t provide strong returns for investors. But Biden doesn’t care if you lose money. He is only interested in pandering to the radical left.
But the only way to stop this scheme is if Congress passes a bill stopping Biden. The crooked Democrat is sure to veto any bill, so a veto-proof majority will have to do it. Manchin might be the first Democrat to defy Biden’s woke plans, but he can’t be the last.
Key Takeaways:
- Over 100 organizations demanded Congress defy Biden’s ESG scheme.
- This comes after Democrat Joe Manchin sided with Republicans to block Biden’s plan.
- Biden wants to force retirement funds to invest in “woke” causes, which will lead to losses.
Source: Fox News
