Nice tweet by Stephanie Kelton, the Chief Economist, U.S. Senate Budget Committee, and a quick reminder for you all. If the Government balances its budget, you can say goodbye to the private sector’s … Continue reading If Gov’t Balances its Budget…
In a healthy economy, there is a symbiotic relationship between companies and people. People want to buy product, and companies make the product that the people want to buy. The companies hire … Continue reading Michael Hudson on China and our Financial Economy
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Speaking to The Thom Hartmann Program, Carter explained that the 2010 Citizens United Supreme Court changed the whole political landscape in the United States. “It violates the essence of what made America a great country … Continue reading President Jimmy Carter: The United States is an Oligarchy with ‘unlimited political bribery’
Since the Federal Reserve only requires private banks to have 10% of the money they loan out actually on hand, isn’t the remaining 90% of money loaned by banks “created out of thin air?” Continue reading Do private banks create money?
paul meli said… I don’t know about Britain, but in the USA the outstanding balance of private credit is about $46T and the total of all government spending since WWII about $68T, so someone is confused. I already debunked this here: http://economicsrantsnmusings.blogspot.com/2013/06/does-credit-drive-economy.html <– Private link, looking for cached version somewhere to support what he’s … Continue reading Do private banks ‘create’ more money than the government?
Is the FED only a quasi-arm of the Government? The Fed is a public-private partnership, but monetary policy is determined from the top. Governance Fed Board of Governors: all 7 members appointed by … Continue reading Is the Federal Reserve a Quasi-Arm of the Government?
Shareholders must stop sucking companies dry at the expense of innovation, investment and the wellbeing of the workforce Source: ‘Quarterly capitalism’ is short-term, myopic, greedy and dysfunctional| Will Hutton | Comment is free | The Guardian Continue reading ‘Quarterly capitalism’ is short-term, myopic, greedy and dysfunctional | The Guardian
It’s hard to imagine a situation where this most recent 86 billion euro ($94.1 billion) Greek bailout will succeed where the first 110 billion euro ($120.4 billion) Greek bailout in 2010 failed. Or where … Continue reading Recent Greek Bailout a Sign of Political Crisis and Syriza Failure
It will take Greece another 20 years from now to regain the employment lost by the imposed policy austerity. The Left Platform of Syriza appears to be the only Greek political element … Continue reading If Greece signs the 3rd bailout, it will take 20 years for it to recover
Here are the demands by Germany and France to Greece (to have Greece borrow €50bn more, to turn around and give BACK to Germany and France), otherwise they … Continue reading Greece – A country currently being destroyed by banks
Of the €252 billion “lent” to Greece, €232.9 billion went to pay off PRIVATE German and French banks who had been gambling people’s money. Greece received less than 10% of the money, yet are being forced to pay off the full amount – and lose evry asset the country has in the process. Continue reading Greek bailout is about destroying democracy, not helping a country.
Greece and other weak EU countries were victims of predatory lending too – mainly by bankers in Germany and France. Like their still unindicted counterparts at America’s too-big-to-fail banks, the banksters responsible … Continue reading The Greeks Fight Back: Oxi to Austerity
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