Are We Headed For 1929 (Again)?

The lowering of interest rates by the Fed has not led to a reinvestment by capitalists into the real economy. Instead, the banks are allowed to do the same things they did in 2007 – issue cheap loans to questionable institutions. Meanwhile, the manufacturing industry is in recession with auto and trucking industries sinking into debt. According to this article, Fannie Mae and Freddie Mac are in worse shape than in 2007!
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About Barbara MacLean

Barbara MacLean has worked as an academic and career counselor at California State University, East Bay (CSUEB), Merritt and West Valley Colleges and as a career counselor and manager of the Oakland One Stop Career Center, a public career and jobs center in partnership with EDD. She is a co-founder and editor of Planning Beyond Capitalism.

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