Listen to my friday, August 27, Alternative Visions radio show presentation on Fed chair, Jerome Powell’s, decision to continue flow of QE $120B/mo. ‘free money to banks and investors. What happens if and when QE slows and interest rates rise? What’s impact on US economy, domestically and via global economy currency crises when taper begins?
TO LISTEN GO TO:
https://alternativevisions.podbean.com/e/alternative-visions-the-fed-the-taper-the-real-us-economy/
SHOW ANNOUNCEMENT:
Dr. Rasmus reviews Fed chairman Powell’s decision today, as the Jackson Hole, WY meeting of central bankers kicks off. Powell signals in his opening statement a possible earlier ‘taper’ of the Fed’s $120 billion/mo. injection of free money into the banks and investors ($4T since Covid recession began). Why the Fed continues to ‘pre bail out’ investors when they don’t need it (and never have). Rasmus examines Powell’s statement and claims regarding employment gains, inflation, and Covid effects. What’s the real picture re. inflation, employment, and the state of the US and global economies. Early warning signs of slowing US recovery as Asia economies, including China, slip into another recession or stagnate. Why the Fed may not be able to really ‘taper’ without setting off a major global currency crisis. Why are more foreign govts adopting Bitcoin and crypto currencies as a defense against the dollar and why will this destabilize their economies even further in the end.
Dr. Jack Rasmus @drjackrasmus
Jack Rasmus 
[…] The Fed, the ‘Taper’ & the Real US Economy-audio https://jackrasmus.com/2021/08/28/the-fed-the-taper-the-real-us-economy-audio/ […]
Excellent as well as a disturbing and painful review of the economy. It brings up the important rhetorical question: why cook the economic books? Why systematically under estimate such important economic facts as unemployment and inflation? The obvious answer is that it is part of a larger, vicious class war. But what is behind the obvious? In other words, what is the underlying economic mechanism that allows this vicious class war and drives the systematic distortion of the painful economic facts for the lower 90% ? A big part of it is casino capitalism because if you are making, say a trillion dollars as the 700 American billionaires did last year from the stock market, the fact that the lower 90% is buried in debt, crippled by inflation, and/or unemployed is irrelevant as consumer demand. Elon Musk did not give his American workers a pay raise: he gave them pink slips and shipped production to China cf Henry Ford. The utter repugnance that Keynes had for casino capitalism was well placed.