Wed 14 Jul 2010
The Transformation of Markets into Casinos
Ellen Brown Counterpunch 7/14/10
Ever since December 2008, the Federal Reserve has held short-term interest rates near zero. This was not only to try to stimulate the housing and credit markets but also to allow the federal government to increase its debt levels without increasing the interest tab picked up by the taxpayers. The total public U.S. debt increased by nearly 50% from 2006 to the end of 2009 (more…)