Here are key parts of a article written today by:Jon Schwarz — 11:54 a.m.
While Jon calls it the Fed I call it for what it is: "The Permanent Rear Naked Choke Hold
induced by the 0.1% over 90% of the population.........."
:Jon Schwarz — 11:54 a.m.So the Fed sits right at the center of American politics. Yet for most of us, it might as well be
invisible.
How can this be?
The explanation is a phenomenon known in anthropology as
“social silence.”
Ask yourself this: When was the last time you sat around with your family and friends talking about the
Federal Reserve?
By far the most likely
answer is never, because you are normal human beings.
But when was the last time you all hashed over one of you needing a job, or your health care coverage, or
your asshole boss, or the chances you’ll get laid off?
The answer to that is,
you never stop talking about it.
The combination of these two things is truly bizarre, because the
Fed has more power than any institution over everything about work in America.
Here’s how the Fed does it:
The Fed largely sets short term interest rates. If it lowers interest rates it heats up the economy, because cheap money makes it easier for entrepreneurs to start new businesses, for old businesses to expand, and for everyone to borrow to buy expensive stuff like homes or cars. That in turn generates new jobs and lowers the unemployment rate. And low unemployment takes leverage away from employers and gives it to employees, making it far, far easier for everyone to get raises and demand decent working conditions.
Meanwhile,
the 0.1 percent who actually own and operate the country generally
do not want full employment — and keep a close eye on the Fed to make sure it doesn’t make it happen. Why? Straightforward class conflict.
For instance, a current
Ohio business owner who’s feeling pressure to raise wages to attract workers
recently told the New York Times,
“I sometimes wish there was actually a higher unemployment rate.” Full employment would also tend to raise the rate of inflation, thereby reducing the value of government and consumer debt — which is largely owned by the creditors at the top of the economic pyramid – and relieving the burden on all the debtors down below.
Here’s how Gillian Tett, the U.S. managing editor of the Financial Times,
describes it:
… the way that an elite typically stays in power in almost any society is not simply by controlling the means of production (i.e. wealth), but by shaping the discourse (or the cognitive map that a society uses to describe the world around it). And what matters most in relation to that map is not just what is discussed in public, but what is not discussed because those topics are considered boring, irrelevant, taboo or just unthinkable. Or as [French anthropologist Pierre] Bourdieu wrote: “The most successful ideological effects are those which have no need of words, but ask no more than a complicitous silence.”
In other words, the Federal Reserve hasn’t vanished from political debate despite the fact it’s so critical to our lives, but because it’s so critical.
None of this is a conspiracy. It’s just the way human societies work, as natural as water running downhill.
THE INCREDIBLE LOST HISTORY OF HOW “CIVIL RIGHTS PLUS FULL EMPLOYMENT EQUALS FREEDOM”
Jon Schwarz July 17 2017, 11:54 a.m.
Plain and simple,The "Money Masters" and the "Large Business Owners" thrive when unemployment is high..
This is why the stock market is booming..............
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Book for dummies:Why the 0.1% are the 0.1%
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Originally Posted by PAULYPOKER
No further questions, your honor.
