So Larry Summers is out, and maybe Janet Yellen is in. I'll believe it when I see it, but it really doesn't matter much anyway. What's she going to do, stop giving interest-free money to the banks to lend to the peons?
Since we have Asians to make our shit for us, our economy is predicated on a few people keeping everyone else in perpetual debt and wage slavery. There is nothing else; no Fed monetary policy change is going to affect that. The "jobless recovery" will continue to be defined by more min-wage mcjobs and more people forced to make money on the side just to survive. Green grass and high tides forever.
The pernicious issue of wealth/income disparity could be solved tomorrow, either with some sort of (at least partial) debt jubilee, a bailout of the working class, or some combination. But that won't happen no matter who helms the Fed, whether it's Larry Summers, Janet Yellen, or Noam Chomsky. This machine operates under certain rules of political physics, and they are unalterable.
Since we have Asians to make our shit for us, our economy is predicated on a few people keeping everyone else in perpetual debt and wage slavery. There is nothing else; no Fed monetary policy change is going to affect that. The "jobless recovery" will continue to be defined by more min-wage mcjobs and more people forced to make money on the side just to survive. Green grass and high tides forever.
The pernicious issue of wealth/income disparity could be solved tomorrow, either with some sort of (at least partial) debt jubilee, a bailout of the working class, or some combination. But that won't happen no matter who helms the Fed, whether it's Larry Summers, Janet Yellen, or Noam Chomsky. This machine operates under certain rules of political physics, and they are unalterable.
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