Financial parasitism and looting are the “new normal”
Latest moves by Fed and European Central Bank
►http://www.wsws.org/articles/2012/sep2012/pers-s17.shtml
17 September 2012
The decision by the US Federal Reserve Board to provide indefinite support to financial markets under a third round of so-called quantitative easing (QE3), announced last week, coupled with the earlier decision by the European Central Bank (ECB) to intervene in the bond markets, marks a new stage in the breakdown of the global capitalist economy that began with the collapse of Lehman Brothers.
The moves by the world’s major central banks to pump more money into the global financial system signify that four years after financial markets stood on the brink of collapse in September 2008, there is no prospect of a return to what were once considered “normal” conditions.