The costs of recession are not simply limited to those workers who lose a job— they're incredibly widespread across the workforce.
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
There is no compelling reason to raise interest rates, now or later.
"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.
Why are banks no longer lending to each other? Are they afraid that collapse is imminent somewhere in the system, as with the Lehman collapse in 2008?
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
Warning: What you are about to read is not about Russia, the 2016 election, or the latest person to depart from the White House in a storm of tweets. It’s the Beltway story hiding in plain sight with trillions of dollars in play and an economy to commandeer.
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