America’s Fiscal Collapse: Obama’s Budget Will Impoverish America
This audio archive will be available until Wednesday, September 16th 2009
[clip from the show]
replaced video May 12, 2013
Is THIS how the bank bailout money is being used?
May 4, 2012
Who do the banks owe money to? Are those hudge funds affiliated with the very banks that were bailed out? Prof. Chossudovsky explains. He emphasizes the bailouts will not help the crisis, but will exacerbate it. He explains that to pay for Obama’s budget defecits, public roads and parks will be sold off to private companies and banks, who will charge user fees to citizens, and that these user fees will be used to pay back the bailout money to the government. In short, the government is helping the banks finance their own debt.
He also says that bailed out banks are using the bailout money to buy up assets in the real economy (such as industry, tech, & airline stocks) at rock bottom prices, which will dramatically change the ownership structure in America. Will this lead to the creation of a financial and industrial oligarchy?