To listen to this archived podcast of Jack Rasmus’ Alternative Visions radio show of September 18, go to:
Jack Rasmus discusses the US Federal Reserve’s decision to keep interest rates near zero and keep free money to banks and speculators flowing. Jack explains how free money from the FED keeps financial asset bubbles in stocks, junk bonds, forex, derivatives and the like going, and feeds ever growing profits from financial assets. Who were the forces and lobbyists behind the FED decision? What did they have to gain? How the FED decision will soon result in central banks in Japan and Europe expanding their own ‘QE’ programs further, intensifying global currency wars and slowing global trade. How global finance capital has become addicted to the free money from the FED and other central banks and is unable to wean themselves off of it. What it means for the coming next recession. In the second half of the show Jack reveals how cash on US, Europe and Japan corporate balance sheets still exceeds $7.3 trillion—after corporations have distributed to shareholders since 2009 more than $8 trillion in stock buybacks, dividend payouts, and private equity firm profit sharing distributions to partners. Jack explains how corporations in the three regions, north America, Europe and Japan, accumulated the $15.3 trillion—i.e. from free money, legislated tax cuts, and cuts to worker’s wages and benefits.