We already live in a permanent recession in which the Wall Street mafia secretly and continuously is being bailed out with billions by the Fed!
Jimmy Dore and Dylan Ratigan explain in this video the secret mechanism through which the Fed is permanently bailing out the Wall Street mafia with billions.
Dore refers to a September article by CNN Business with information that, under normal circumstances, should have made big headlines, generating massive anger.
We were trained not to be surprised by the liquidity injections that the central banks like the Fed and ECB provide to the biggest financial institutions. When at the same time, the real economy, and especially the small-medium business sector is literally struggling to survive in the capitalist West.
Yet, in this case, some additional information reveals something impressive. As Dore highlights from the article:
Until this week, the Fed hadn't launched an operation like this since 2008. [...] Still, the fact the Fed needed to pump $128 billion into the system on successive days shows that a crack has emerged in a seldom-discussed corner of Wall Street that is central to the global financial system. It also raises concerns that the Fed is losing its grip on the short-term rates the central bank is supposed to control.
Such an information could be considered evidence that we are living in a situation in which the permanent recession has become a norm. Yet, the banking cabal is being left untouched, thanks to these secret billion-bail-out 'programs', while millions of households in the capitalist West are literally struggling to cover even basic needs.
According to Ratigan, Dodd–Frank Wall Street reform has been designed to do the job quietly. The reform was promoted as a tool that would supposedly impose some level of regulation on the financial system. Yet, its real purpose was essentially to create a permanent bail out mechanism for the banks without the public and political scrutiny.
As we wrote previously, in the previous major financial crisis of 1929, the big capital eliminated competitors and redesigned the new global power structure through a world war. This time, it cannot do the same. A world war would probably mean the end of civilization, therefore, the process is much longer and slower. It extends in time through a peculiar, ongoing semi-recession until the next big financial meltdown.
All these combined indicate that financial capitalism rapidly declines, living probably its final days. The system desperately tries to keep the overheated machine running. And this means that the next big financial meltdown will probably be the last one.
What comes next? It seems that no one has an idea ...