On the US "Fiscal Cliff" Scare

Reference to Associated Press' report, syndicated in the Philippine Daily Inquirer,

"Last-minute fiscal cliff talks in US Senate"

This damn "fiscal cliff" scare in the US has reached PH media. That scam is being sensationalized thru syndication in mainstream media, which have always promoted the interests of the rich and powerful 1% — in this case, the Wall Street elites and many of the US Republicans who would like to kill Medicaid, Medicare, Social Security, and other social entitlements. 

The so-called "grand bargain" between Obama and Congress is simply "austerity" — the same policies that stress out the Euro and deepen the crises in Greece, Spain, and Italy. The US and the world economy won't slide into a socially unbearable recession, let alone collapse, on January 1 or over the short-term if an austere budget will not be passed in Congress. The greatest power of the US so far is its ability to print US dollars; it's the issuer of the world's currency — thus, it cannot be insolvent or be forced to default!

The ways out of US and global economic crises: 

• put an end to finance-led capitalism; 

• be freed from the domineering influence of Wall Street; 

• tame the greedy animal spirit of the 1%; and, importantly, 

• employ, secure, keep healthy, and care for the 99%!

Alternative futures now!