The Fed’s Secret Plan to Suck Workers Dry

Workers have the power right now, and corporate America does not. And now we have proof that corporate America – which owns our government – wants to turn this all around immediately.

The Most Censored News with Lee Camp hosted by comedian/ writer/ raconteur/ provocateur/ saboteur Lee Camp is a twice-weekly look at the most censored stories within corporate media hosted by the new video platform Behind the Headlines – a MintPress video project that is 100% viewer supported. 

Camp both brings to light stories that are (intentionally) ignored by the corporate media and digs deeper when the mainstream media only reports on the surface-layer reality. Having been a professional stand-up comic for 20 years, a writer for The Onion, and the host/head writer of Redacted Tonight, Camp is also uniquely suited to bring humor to these topics.

The Federal Reserve is out to get us, and I can prove it.

We’re still getting over a pandemic. Healthcare costs are totally out of control. Everyone’s in debt and hates their job. The insects are disappearing, which feels like a bad sign. I have to watch a Jeff Bezos interview just to see bug eyes anymore.

On top of all that, the bankers at the Federal Reserve have decided they’re going to make things way worse.

As reported in Common Dreams, “Federal Reserve Chair Jerome Powell said… that the U.S. central bank is ready to inflict ‘pain’ on households as it continues to fight inflation, remarks that drew widespread backlash from experts who warned the Fed appears poised to spark a devastating recession and mass layoffs.”

The Federal Reserve – the privately owned central bank of the U.S. – wants to screw us all some more. So the Fed claims it’s raising interest rates to fight inflation, but that isn’t why they’re doing it. The truth is it doesn’t care that much about inflation, which is caused by corporate greed. What it really wants to fight against is worker power.

Right now, average American workers have more power than usual there’s a wave of unionizing across the country. Companies have had to add all kinds of perks to get people to apply to work for them, like higher wages, good healthcare, and work-from-home agreements. Chik-fil-A was even hurling chicken sandwiches at people to get them behind the counter.

The point is, workers have the power right now, and corporate America does not. And now we have proof that corporate America – which owns our government – wants to turn this all around immediately.

A leaked memo from Bank of America in June, reported by The Intercept, caught one executive saying, “By the end of next year, we hope the ratio of job openings to unemployed is down to the more normal highs of the last business cycle.” In other words, they want American workers to “lose leverage in the labor market,” which is code for raising unemployment rates across the country so that workers are desperate again.

This way, corporate America can go back to screwing workers without facing any resistance. You see, if the recession gets bad enough, the same worker who was trying to unionize their workplace a few months ago would be saying, “So you say that if I clean the raccoon feces off the back alley behind the cafe every day, you’ll give me the coleslaw you’re throwing out because it’s past its expiration date? Throw in a sturdy, long-lasting spork, and you’ve got yourself a deal!”

So just to be clear here, the Fed – the largest bank in the world, run by the most powerful bankers in the world – is intentionally creating a recession to hurt the average American.

It’s not just big banks that are excited at the prospect of crushing average households. The Intercept reported in August, “The CEO and president of Douglas Emmett Inc., a real estate corporation worth over $3 billion… said on an August 2 corporate earnings call that a recession could be ‘good’ for the commercial real estate business ‘if it comes with a level of unemployment that puts employers back in the driver seat.’“

So a completely unelected, unaccountable group of bankers – which is a synonym for sociopaths – can have more impact on most Americans than their so-called elected representatives.

Watch the full report above.

Lee Camp is an American stand-up comedian, writer, actor and activist. Camp is the host of Behind The Headlines’ new series: The Most Censored News With Lee Camp. He is a former comedy writer for the Onion and the Huffington Post and has been a touring stand-up comic for 20 years.