The Fed knows inflation is a problem born of insufficient supply that only governments can tackle. But that doesn’t look like stopping it from pushing the US economy, and everyone else’s, into recession.
Federal Reserve chairman Jerome Powell plans to address sky-high inflation by hiking interest rates — acknowledging that doing so will suppress wages and worker power. It's a response that will force workers to bear the brunt of the inflation crisis.
Starbucks, McDonald’s, Chipotle, Amazon – all protect profits by making customers pay more. We need the political courage to say they can and should cover rising costs themselves
"A large across-the-board increase in interest rates is a cure worse than the disease," says economist Joseph Stiglitz. "That might dampen inflation if it is taken far enough, but it will also ruin people's lives."
No private, unelected entity should have the power over the economy that BlackRock has, without a legally enforceable fiduciary duty to wield it in the public interest.
The repo market is a fragile house of cards waiting for a strong wind to blow it down, propped up by misguided monetary policies that have forced central banks to underwrite its highly risky ventures.
Eric Toussaint
Committee for the Abolition of Illegitimate Debt
The problem is not a structural lack of liquidity but the use banks make of the liquidity available to them [...] they use the liquidity placed at their disposal to buy up massive amounts of debt which sooner or later will lead to a major new crisis
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