Alternative Visions - China’s Crypto Ban, Fed’s Taper & Biden’s Disappearing Stimulus

Dr. Rasmus reviews the key economic events of the past week. 1) China’s growing ban of Crypto currencies and what’s behind it. Also, the Evergrande Corporate Bond default feared by US professional investors and why they are concerned 2)the Fed’s decision to continue injecting $120b/mo. in free money to bankers and investors and not to begin raising interest rates until middle of 2022. US stock markets surge on the news 3) the status of the negotiations within the democratic party’s corporate wing v. progressives on the two pending fiscal stimulus bills—the infrastructure bill $550B and the $3.5T Reconciliation bill. Rasmus predicts how they might get it passed, at a much reduced level of total spending. Why the democratic party’s corporate wing keeps calling the party’s shots on spending and tax policy to protect its wealthy capitalists.