Old School

Central banks don’t snuff out inflation by raising interest rates anymore. That’s old school (very old, like 300 years old). No, instead; they get rid of inflation by allowing people to simply fall off the grid and live completely on the margins in abject poverty. The government will continue to cut services and apply austerity measures as a way to prevent wages from increasing; thus obviating the need to chase inflation with higher rates that would cut into the monopoly profits of the occupying banks.

The perfect crime continues. Banks amass trillions in debts off their balance sheets and whenever they seek huge annual bonus payments, they drop a few hundred billion into the laps of various governments and demand more QE to flood the system and paper over the gap. Interest rates never rise so the ability to finance this game never rises. The risks never appear to the banks – as no court in the world (outside of Iceland) is prosecuting bankers. But the bottom 99% suffers zero wage growth, zero rates on savings, and zero redress for predatory bankers widening the wealth and income gap as the only means left to gouge people now that the globe has hit resource restrictions in energy and raw materials.

Max Keiser


MADISON, Wis. — (AP) The Wisconsin Assembly early Friday passed a bill that would strip most public workers of their collective bargaining rights – the first significant action on the new Republican governor's plan.

The vote put an end to three straight days of punishing debate, but the political standoff over the bill is far from over. The measure now goes to the Senate, where minority Democrats have been missing for a week, preventing a vote in that chamber.

No one knows when – or if – the Senate Democrats will return from their hideout in Illinois. Republicans who control the chamber sent state troopers out looking for them at their homes on Thursday, but they turned up nothing.
http://www.huffingtonpost.com/2011/02/25/wisconsin-assembly-passes-anti-union-bill_n_828060.html