{"id":18032,"date":"2022-06-22T12:09:44","date_gmt":"2022-06-22T10:09:44","guid":{"rendered":"https:\/\/mwehle.eu\/wp\/?p=18032"},"modified":"2022-06-22T12:13:52","modified_gmt":"2022-06-22T10:13:52","slug":"18032","status":"publish","type":"post","link":"https:\/\/www.mwehle.de\/wp\/?p=18032","title":{"rendered":""},"content":{"rendered":"<p><a href=\"https:\/\/michael-hudson.com\/2022\/06\/the-feds-austerity-program-to-reduce-wages\/\" target=\"_blank\" rel=\"noopener\">Michael Hudson<\/a>:<\/p>\n<blockquote><p>Biden\u2019s cabinet depicts this New Cold War as a fight of the \u201cdemocratic\u201d <span style=\"white-space: nowrap;\">United States<\/span> privatizing economic planning in the hands of the largest banks \u201ctoo big to fail\u201d and other members of the neo-rentier class, in opposition to \u201cautocratic\u201d China and even Russia treating banking and money creation as a public utility to finance tangible economic growth, not financialization.<\/p>\n<p style=\"text-align: center;\">\u03a9\u00a0\u03a9\u00a0\u03a9<\/p>\n<p>For the past half century, the Fed\u2019s role has been to provide easy money to give the ruling party at least the illusion of prosperity to deter voters from electing the opposition party. But this time the Biden Administration are running on a program of financial austerity.<\/p>\n<p>The Party\u2019s identity politics address almost every identity except that of <span style=\"white-space: nowrap;\">wage-earners<\/span> and debtors. That does not look like a platform that can succeed. But as the ghost of Margaret Thatcher no doubt is telling them: \u201cThere Is No Alternative.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Michael Hudson: Biden\u2019s cabinet depicts this New Cold War as a fight of the \u201cdemocratic\u201d United States privatizing economic planning in the hands of the largest banks \u201ctoo big to fail\u201d and other members of the neo-rentier class, in opposition &hellip; <a href=\"https:\/\/www.mwehle.de\/wp\/?p=18032\">Weiterlesen <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18032","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.mwehle.de\/wp\/index.php?rest_route=\/wp\/v2\/posts\/18032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mwehle.de\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mwehle.de\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mwehle.de\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mwehle.de\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18032"}],"version-history":[{"count":0,"href":"https:\/\/www.mwehle.de\/wp\/index.php?rest_route=\/wp\/v2\/posts\/18032\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.mwehle.de\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mwehle.de\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mwehle.de\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}