Skip James and the Federal Reserve’s Killing Floor
Sometime before 1990 I was reading a story about how industry was having so much trouble finding workers that companies were sending buses to inner city Milwaukee to pick up workers who didn’t have transportation. Heartwarming! Capitalism works!
But elsewhere in that same issue there was a different story about a meeting where a group of bankers worried about overheating and inflation, and concluded that interest rates must be raised. This is the Federal Reserve’s killing floor.
One thing all this shows is the way that economic issues and race issues are closely related and not mutually exclusive. If some group is going to be sacrificed every time the Fed turns the spigot, it makes sense for them to be people that no one else else cares about. Black Americans.
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