When America next experiences an economic downturn, it won’t be like the relatively small recessions that the country used to regularly undergo before the 2008 crash. It will be a collapse of such magnitude that the global economy won’t ever be able to recover, like it eventually did after the Great Depression. It will likely be the end of the growth period of capitalism, and the beginning of an unprecedented contraction that leaves civilization dramatically changed.
Although the repo market is little known to most people, it is a $1-trillion-a-day credit machine, in which not just banks but hedge funds and other “shadow banks” borrow to finance their trades. Under the Federal Reserve Act, the central bank’s lending window is open only to licensed depository banks; but the Fed is now pouring billions of dollars into the repo (repurchase agreements) market, in effect making risk-free loans to speculators at less than 2%.
with Chris Hedges
RT America on Jan 11, 2020
Chris Hedges talks to Ron Purser, professor of management at San Francisco State University, about the growth of mindfulness meditation in the mainstream. As meditation makes its way into schools, prisons and government agencies, Purser argues the booming cottage industry with its promises of “Buddhist-inspired” techniques tries to offer a universal panacea for resolving almost every area of daily concern. While it can be helpful, compartmentalizing the practice away from asking why there is so much stress in daily life and away from making challenges to corporate and political practices could do more harm than good.
with John Pilger
goingundergroundRT on Dec 18, 2019
On this episode of Going Underground, we speak to legendary journalist and filmmaker John Pilger on his film ‘The Dirty War on the NHS’. He discusses the issue of the film not being allowed to air during the general election and questions the role of OFCOM as a regulator, the negative impact of management consultants, how the Health and Social Care Act of 2012 opened the door to NHS privatisation, how privatisation causes money to be wasted in the NHS despite more funding promises, the reality of the private healthcare system in the United States, R.A.M volunteering in the US, the 2019 UK general election, the reason why Brexit has been taken over by the extreme right since 2016, anti-Semitism allegations against Jeremy Corbyn’s Labour Party, allegations of BBC bias against the Labour Party in the election and more!
“The dictionary definition of socialism is “a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.””
Dark Waters is the most important American film in a decade, although it squanders an opportunity to fully portray PFAS* contamination as the nationwide human health epidemic it has become. The film leaves out half of the story and that involves the military’s role.
*per- and poly fluorinated alkyl substances (PFAS) include PFOA, PFOS and 5,000 other harmful chemicals used in a variety of military and industrial applications.
The holidays are at hand. Boycott Season is in effect. As the snow starts to fall, the commercial war of the season asserts its dominance. Our identities as citizens are quickly buried in a blizzard of advertising that defines us as consumers.
Empire Files on Nov 27, 2019
Abby Martin sits down with Pulitzer Prize-winning journalist and author Chris Hedges to discuss the ignored reality behind Trump, the bipartisan road from neoliberalism to fascism, how the Democratic elite are an institution of corporate power, and how there’s no way out through the #2020election without destroying the system.
with Chris Hedges
RT America on Nov 23, 2019
Chris Hedges talks to author Amitav Ghosh about the natural world and sacred forces that sustain life and the conflict when treated by the human species as an inert commodity to exploit. In his novel Gun Island, Ghosh explores how these ecosystems have turned with a vengeance on the hubris and collective lunacy of modern industrialized society.
goingundergroundRT on Nov 16, 2019
We speak to the author of ‘The Best Democracy Money Can Buy’ Greg Palast on the coup in Bolivia against Evo Morales, the US’ motivations for the coup, the racism in Latin American right-wing politics, the regime attempt by the US against Venezuela and Nicolas Maduro and why the 2020 US elections will not be free elections.
Only days before Evo Morales stepped down as Bolivia’s president audio tapes were published implicating opposition politicians, the US embassy and American senators in a coup plot.
RT America on Nov 9, 2019
Journalist Chris Hedges talks to Paul Street, author and political commentator, about the failure of the American Left, new forms of resistance, democracy, and the deep roots of America’s ruling oligarchy.
What’s going on in the repo market? Rates on repurchase agreements (“repo”) should be around 2%, in line with the fed funds rate. But they shot up to over 5% on September 16 and got as high as 10% on September 17. Yet banks were refusing to lend to each other, evidently passing up big profits to hold onto their cash – just as they did in the housing market crash and Great Recession of 2008-09.