Posts

Showing posts with the label Austerity

Madness Is Irreversible When It Is Wrongly Explained

  Madness Is Irreversible When It Is Wrongly Explained By  Wayne Lusvardi A Faustian (or Faucian) Bargain : you must give up your soul or life in exchange for worldly, material benefit –  Goethe, Faust: A Tragedy . Americans finds themselves unable to explain the following madness they see daily piped into their homes electronically: Socially engineered inflation of prices for food, gasoline, electricity, etc. Tyrannical medical care of anyone hospitalized including isolation and lethal dosage medication, usurpation of their own doctor, and death from hospital-created sepsis bacterial infection from intubation/ventilation, not virus. Twenty-two high tech corporations funding  $82 billion  to Black Lives Matter to foment anti-race riots and destroy small business in Blue cities. Big Pharma drug companies that control WHO and the CDC, declaring a pandemic resulting in injection mandates to keep a job, martial law, closure of only small businesses while wealth was transferred to  493 new

The Fed’s Austerity Program to Reduce Wages

The Fed’s Austerity Program to Reduce Wages By Michael Hudson Preface: The Federal Reserve Board’s ostensible policy aim is to manage the money supply and bank credit in a way that maintains price stability. That usually means fighting inflation, which is blamed entirely on “too much employment,” euphemized as “too much money.” [1]  In Congress’s more progressive days, the Fed was charged with a second objective: to promote full employment. The problem is that full employment is supposed to be inflationary – and the way to fight inflation is to reduce employment, which is viewed simplistically as being determined by the supply of credit. So in practice, one of the Fed’s two directives has to give. And hardly by surprise, the “full employment” aim is thrown overboard – if indeed it ever was taken seriously by the Fed’s managers. In the Carter Administration (1777-80) leading up to the great price inflation of 1980, Fed Chairman Paul Volcker expressed his economic philosophy in a note ca