Alternative Visions - The Week That Was: US GDP, the Fed Free-Money Money Firehose, & January 6 Sideshow

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Manage episode 298800648 series 2360217
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Dr. Rasmus discusses 4 key events of the past week and how they’re related: (1) What does the preliminary report on 2nd Quarter 2021 US GDP really indicate? Is it a ‘V’ or just the first half of a ‘W’ given economic indicators showing a slowing of US recovery in the second half 2021. (2) the Federal Reserve meeting showed chair Powell is intent on continuing pumping in $120B of free money to the banks and investors every month for at least another year. Plus keep a second $1T spigot is now permanently open in the Repo Market for stock speculators as well. Why then are banks and investors continuing to get all the free money, while politicians keep cutting the promised fiscal stimulus for working and middle class households and the poor? Why Sanders’ $3.5T Family Bill Dead on Arrival! (3) Rasmus next addresses the phony Infrastructure deal and the Dems latest concessions to McConnell & Republicans in the name of ‘bipartisanship’. (4) How is Biden’s & Dem’s retreat on infrastructure spending—from original $2.3T to $500B now—tied to the launch, six months after, of US House hearings on the January 6 Capitol insurrection? Why no budget reconciliation & filibuster will mean no electoral reform which will seal the Dems defeat again in 2022. Why the crisis of the decline of US Democracy continues to intensify.

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