Jacobin Textline: 830-JACOBIN  //  Text anytime and we'll respond during a show!

It's a Wonderful Fed

After a two week hiatus, the Fed has dumped another $100B into the financial system.

This is like George Bailey getting a loan from Mr. Potter every week to keep Bailey Brothers' Building and Loan afloat, but instead of drawing on existing deposits, Mr. Potter prints money in the back office and gives it to George.

It means the big banks are so mismanaged that the only thing keeping the economy from going into a death spiral is printing money – which itself leads to a death spiral.

Video Shorts

Latest Listening

18 December 2024
13 December 2024