The Dollar System Shows its Fangs

On October 5, an article by Shawgi Tell appeared in the online publication “Dissident Voice” titled “The Rich and their Media Offer No Solutions to Economic Problems.”

Tell writes: “False choices, bad options, and mixed messages abound. Week after week, one news source claims that everything is great while another says that the economic forecast looks gloomy for the next decade. Economic concepts like inflation, interest rates, costs, prices, and unemployment are rendered in the most tortured manner over and over again, with different representatives of the rich constantly making unscientific and confusing claims about what is ‘the real problem’ and how to ‘get us back on track.’”

Anybody trying to make sense of what is happening in the economy by reading the analysis in the media will be hopelessly confused. For example, we are told the Labor Department reported that 263,000 jobs were created in September. While reported as fact, this figure is only an estimate. The media indicates that job creation slowed last month from the month before but not enough to prevent the stock market from falling sharply on the day the unemployment figures came out. Wall Street knows that under current circumstances, as long as employment continues to rise, so will interest rates.

Read more …


One thought on “The Dollar System Shows its Fangs

  1. Is there a chance that you might write about the effect of reducing labor hours? Why, for instance, do workers not just advocate greater wages, but also fewer hours of work?

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.