Many of us thought so and were appalled. People like Jimmy Dore pounced by using the cheap populist perspective that the Fed plopped a trillion dollars cash into the accounts of banks by a simple keystroke. And therefore, why on earth doesn’t the Fed arrange to plop that amount into a monthly UBI in every citizen’s bank account for the next few months? Or fund medical care for all? Isn’t now the time to fight Capital, which hates Humanity? Isn’t righteousness fighting a system that sucks the blood out of our people? Isn’t now the time for a revolution? But do we really have a stomach for months of long lines pictured above?
It’s been a hostage situation all along. Go along with the system. Otherwise, you and your family will suffer:
The Atlantic reports: “If the Fed and other central banks keep the markets functioning, that benefits everybody. But a credit crunch would hurt everybody. Businesses are already seeing revenue evaporate. Many will seek loans to help tide them over. Low-interest rates and liquid markets will help those businesses, the families that rely on them for work, and the communities they serve.”
Supply trumps demand. Which means, I guess, that if we are given free money from the Fed in our pockets, there will be nothing to spend it on because businesses will have crashed for lack of credit. Therefore it’s much better if we have no money and businesses are well stocked. The airlines will have passengers. Stock prices will rebound. But how many people will be evicted, dogged, or taken to court by the legal department of credit card banks seeking payments? One TV commentator said rightly that this will expose the poor among us.
I don’t know if a revolution is still possible. The global Overmind has been installed: financial, commercial, surveillance, all suggestive of total control. Subtle, invisible, and pervasive. Give the people just enough. Give them the illusion of freedom. But don’t let them know of their infinite potential without us.
Never let a crisis go to waste. The Covid-19 measures will tell how far they can go.