We’ve spoken about this a lot. You are probably aware by now of how screwed the US economy has become, how the recovery is proven to be no more than a wealth distribution from the poor to the already-wealthy via the propping up of the stock market.
You’re probably aware that all of the jobs “added” can be more than explained away by part-time and low-wage-for-college-grads-already-in-debt jobs.
You’re probably aware of how wealth inequality is the only stat that has risen, while real median wage and participation rates remain at decades lows.
You’re probably aware of how “unemployment” rates are kept down by the continuous drain of labor, as people simply give up looking, and these people don’t get counted as “unemployed”… while even people who have been looking for too long are simply relegated to the same pile as those who have given up, so that they too can be conveniently NOT counted as unemployed.
You’re probably aware of the fact that it’s all a great charade, and now the Fed has once again decided not to raise interest rates- proof that the recovery we have waited half a decade for is never coming, that a prolonged state of misery was all that we received for all the QE.
There is so much you’re probably aware of, but there’s one bit of info that would explain the motivation for all the bailouts of “too big to fail” banks, while “too small to be of consequence” families turn increasingly to food banks:
Correction: three of the Fed’s 12 presidents are now Goldman Sachs alums. NY, Dallas and Philly. 25% from one bank. Amazing.
— Josh Zumbrun (@JoshZumbrun) August 17, 2015
@JoshZumbrun yes, but this revolving door has existed for awhile.Not a slam,just voice of frustration.
— Truthy First (@DKCMOM1) August 17, 2015
This info on its own is hardly surprising, seeing as Goldman’s former employee Mark Carney has also taken over the Bank of England (his competitor for the position was Jim O’Neil… also from Goldman) and considering the fact that Mario Draghi the head of the European Central Bank is ALSO a pawn for Goldman… but Josh Zumbrun is a national economics correspondent for The Wall Street Journal, and hence a talking head for the mainstream financial media. For him to say this is fairly… risky? Or is the truth so widely-known now that he would lose all credibility if he kept trumpeting a lie?
Regardless, one wishes the man good luck.
This Article (Here’s Why Our Central Bankers Do NOT Serve The People) is free and open source. You have permission to republish this article under a Creative Commons license with attribution to the author(CoNN) and AnonHQ.com.