President Barack Obama bragged how he had saved the US auto industry by handing out billions in taxpayers’ money to the auto bosses, and even establishing what amounted to temporary federal ownership of the old General Motors plants when GM went bankrupt during the “Great Recession”.
By Sam Williams
December 23, 2012 -- A Critique of Crisis Theory, posted at Links International Journal of Socialist Journal with permission -- December 11, 2012, brought news of a major new attack on basic labour rights in the United States. The following day, the Federal Reserve [the US central bank] announced new inflationary measures designed to end the economic stagnation the US economy has been mired in since the “Great Recession” bottomed out in July 2009.