With the Global Economy Poised to Collapse, The Fed is Out of Ammo
In this segment of By Any Means Necessary, hosts Sean Blackmon and Jacquie Luqman are joined by Dr. Jack Rasmus, economist, radio show host, & author of 'The Scourge of Neoliberalism,' to talk about how the huge drop in consumption has led to a general economic shut down as workers stay home, how a lack of national paid sick leave only exacerbates the revenue problem for businesses, how this development has led to the US economy going into a kind of "Economic coma," why the Fed's massive cut in interest rates will fail to stimulate any real spending, how the overuse of the economic tools in the Fed's policy toolbox has left the government unable to effectively intervene in the crisis, why Republican resistance to restoring wages for middle-income Americans may lead to a full-on economic collapse, why a legislative solution is crucial to any meaningful recovery from the looming global recession, and how increased natural gas production by US fracking companies is motivating ongoing moves by Saudi Prince Bin Salman to flood the oil markets.