We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Sunday, September 23, 2012

Bernanke And Draghi Are Not Trying To Save Our Economies

Click here to access article by Raúl Ilargi Meijer from The Automatic Earth. 

This is a well articulated rant, but the appreciation and understanding of it requires a knowledge of central banks and the way they create money. Unfortunately, most of the 99 Percent lack this understanding.

Regarding "Draghi's bond buying scheme and Ben Bernanke's QE3", he writes:
The question then becomes: is it worth it? The answer to that is a resounding YES if you're a banker or a stock investor or an incumbent politician (Bernanke announced QE3 a comfortable 7 weeks before the US presidential elections). The answer is an equally resounding, if not outright debilitating, NO if you're not part of that small world where politics and money meet and live in relative splendor. Those who are not invited to that party will be called upon to foot the bill, without having anything to show for it.
at
Labels: , ,