This past week the federal reserve bank chair, Jerome Powell, declared the monthly ‘free money’ to bankers and investors would continue, reduced from the $120 billion/mo. since the Covid recession began in March 2020 to now ‘only’ $105 billion a month. How and why the Fed pre-bailed out the banks when they didn’t need it, and continues to do so. Listen to Dr. Rasmus’ Alternative Visions radio show of friday November 5 for the Federal Reserve decision. Dr. Rasmus also discusses the jobs numbers released today by the US labor dept. and the ‘endgame’ approaching in the Democrats attempts to pass the Infrastructure & Reconciliation bills in Congress. How the ‘progressives’ keep getting outmaneuvered.
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Dr. Rasmus explains how the Federal Reserve has provided $5T in free money to banks and private investors during the Covid recession, when they didn’t need it. That’s $120B every month. The Fed this past week reduced that to…$105B a month. How the monetary system works to subsidize financial markets, bankers, and investors. Why mainstream media avoids explaining this. Meanwhile, progressive democrats reaching their ‘endgame’ in passing the Infrastructure and Reconciliation bills in the US House. How Pelosi is maneuvering them to a final passage of the Infrastructure bill only is explained. Last month’s Employment and Jobs report out today is also dissected to show it reflects a weakening economic rebound—and not the hype presented by the media
I live in the UK and listen to these webcasts every now and then. Here I usually vote Conservative or sometimes Liberal (so I am probably more a socially aware conservative really..if there is such a lable). I listen to these because I want to get a wider picture of what’s going on, especially so because what happens in the US usually affects us here sooner rather than later. Listening to what the Democrats are doing over in your country to support people all I can say is that at least Trump didn’t pretend who’s side he was on…(apart from primarily himself that is) ..
Reblogged this on muunyayo .
The information in this post is extremely important and some highlights are worth repeating. The $5 trillion in interest free money the Fed has given to wealthy investors and banks. The $8 trillion deficit that the Fed has run up on behalf of those same investors and banks. The 12 million unemployed. The shameful betrayal of the precariat by Pelosi/Biden/Sanders/Warren. The fact that the Democratic party is controlled by a few “blue dog” Democrats. The predictable election results in Virginia which is the result of the betrayal of the Democrats leadership. The refusal to provide any real economic stimulus—-as opposed to mitigation—– to the lower 90%, in stark contrast to what the Fed is doing for the banks and wealthy investors. The refusal to reverse Trump’s grotesque tax cuts. The country is being pushed into an angry explosion, which could easily make the Trump mob attack on Congress seem mild in comparison.