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Indybay FeatureRelated Categories: International | Global Justice and Anti-Capitalism
Fed boss Bernanke to continue QE3--endless Bailout of a Clunkered Capitalism
Last week's announcement by Fed chief Ben Bernanke that the QE3 of pumping $85 Billion per month to shore up the Long Recession is an open admission that the current Capitalist Calamity still needs perpetual life support. Wasn't private capital supposed to be far more efficient than government-run programs and services? Only in theory or in the delusional imagination of those "free market" fundamentalists!
Even the USA empire's Warfare State can no longer sustain a Clunkered Capitalism. That's the lesson objective observers must conclude from the facts on the ground. 5 years after the biggest financial meltdown caused by Wall Street banksters, the moribund "free market"--despite getting more than $20 Trillion of forced taxpayers' subsidies--still cannot even recover the total number of jobs that existed prior to the blowup. What does that tell you about the future (lack) of prospects for tens of millions of young people? If they have any smarts, they would have to conclude that Kapitalism is Kaput! Time to seriously seek out a more equitable, sustainable and collaborative alternative than the deadend of an Imperialist "Abyss of Evil."