The feared recession in the US economy has already arrived, according to a report from Merrill Lynch. It said that Friday’s employment report, which sent shares tumbling worldwide, confirmed that the US is in the first month of a recession.
Its view is controversial, with banks such as Lehman Brothers disagreeing.
But a reserve member of the committee that sets US rates warned that it could do little about the below-trend growth expected in the next six months.
“I am concerned that developments on the inflation front will make the Fed’s policy decisions more difficult in 2008,” Charles Plosser, president of the Federal Reserve Bank of Philadelphia said.
He was referring to the problems faced by the US Federal Reserve, which might want to cut interest rates to avoid a recession, but is worried about inflationary factors such as $100-a-barrel oil.
A BBC Radio 4 investigation sheds new light on a major subject that has received little historical attention, the conspiracy on behalf of a group of influential powerbrokers, led by Prescott Bush, to overthrow FDR and implement a fascist dictatorship in the U.S. based around the ideology of Mussolini and Hitler.
In 1933, Marine Corps Maj.-Gen. Smedley Butler was approached by a wealthy and secretive group of industrialists and bankers, including Prescott Bush the current President’s grandfather, who asked him to command a 500,000 strong rogue army of veterans that would help stage a coup to topple then President Franklin Delano Roosevelt.
Over the centuries and millennia, the “Have’s” controlled and enslaved the “Have Not’s”, not only with police terrorism, but also by keeping the peasants, peons, serfs, etc. (i.e., US!) propagandized into impotent stupor. And how absurd to call this a Class War. This is like saying a class war exists between cattle and the factories that butcher them.This point is infinitely important! Elite terrorism has NEVER been enough to permit the 1% to enslave the 99%. This has always been the paradox of history. How can Greek God like elites (the 1%) so abjectly subjugate all the rest of the human race (the 99%)?