Tuesday, September 15, 2015
NPR not giving full disclosure
NPR is irritating me, as usual. They're interviewing someone about whether the Fed will raise interest rates to fight inflation, which they admit is pretty much existent. They're talking about effects on people with investments, on the stock market, on small business. No mention of the fact that when you raise interest rates, it causes an increase in the unemployment rate, which is how raising interest rates lowers inflation. Brief mention of effects on "the economy". No mention of the fact that wages are stagnant, or decreasing, an indication that people are not finding plentiful jobs, with employers raising salaries to compete with each other. A good program to satisfy their corporate donors, and the Republican Congress that has control over the amount of public funds. Although the public funds are much smaller than corporate funding, it is helpful.
Most of the recessions in my lifetime have been caused by the Feds raising interest rates to protect the power elite.
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