The Fed is aggressively raising interest rates, although inflation is contained, private debt is already at 150% of GDP, and rising variable rates could push borrowers into insolvency. So what is driving the Fed’s push to “tighten”?
The post Fox in the Hen House: Why Interest Rates Are Rising appeared first on BSNEWS.
The Fed is aggressively raising interest rates, although inflation is contained, private debt is already at 150% of GDP, and rising variable rates could push borrowers into insolvency. So what is driving the Fed’s push to “tighten”? On March 31st the Federal Reserve raised its benchmark interest rate for the sixth time in 3 years […]
Bank Crimes Pay: Under the Thumb of the Global Financial Mafiocracy
By: Andrew Gavin Marshall
27 November 2015
Originally posted at Occupy.com
Economic news reminds us, "There will be no recovery"; TPP passed and could kill the web; Activists drop flyers on NSA urging them to quit.
About 75% of US employees work 40 hours or longer, the second longest among all OECD countries, exceeded only by Poland and tied with South Korea. In contrast, only 10% of Danish workers, 15% of Norwegian, 30% of French, 43% of UK and 50% of German workers work 40 or more hours. With the longest work day, US workers score lower on the ‘living well’ scale than most western European workers. Moreover, despite those long workdays US employees receive the shortest paid holidays or vacation time (one to two weeks compared to the average of five weeks in Western Europe).
A senior London banker has become the first person to be prosecuted for fixing the London interbank offered rate (Libor), a scandal that resulted in billions worth of losses for savers as banks fraudulently boosted their profits.
The banker, who has not been named for legal reasons, faces up to 10 years in jail after being charged with fixing the inter-lending rate by the Serious Fraud Office (SFO).
