Surviving Capitalism (Not) : European Central Bank cuts interest rate below zero

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

Monday, June 9, 2014

European Central Bank cuts interest rate below zero

Click here to access article by Stefan Steinberg from World Socialist Web Site.

It appears that our global capitalist masters governing the Empire are relying mostly on one solution to the nearly worldwide economic collapse they have caused: create money and give it to themselves.

...with all the measures introduced by the world’s central banks since the crisis, the latest rate cuts by the ECB will do nothing to stimulate genuine economic growth. Instead, as was shown by the stock market rally Thursday, the ECB will only serve to fuel new speculative bubbles while further enriching the biggest banks and the millionaires and billionaires that control them.