State's Rights And State Banking - A Repudiation Of The Washington/Wall Street Fascist Corporatocracy. Kill The Beast That Is Wall Street.
There are many things to be excited about in the United States. Many. People who attempt to curve fit the past into the future are going to be sadly disappointed. People are remarking that it could take twenty years for the U.S. to get back to full employment. They are looking in the rear view mirror. They are limited by the lack of imagination that defined yesterday. They are showing their lack of creative thinking and understanding of what is truly wrong with the American economy. Creativity is the most important form of intelligence. And if the American people are enabled to become self-determined, they will prove all of these naysayers wrong.
I have remarked repeatedly that the U.S. economy would roar with the right policies. We could be back to near zero unemployment within five years. I haven't told you explicitly what policy decisions that would take or what fundamentals would be required but if you have been reading my blog since it's inception, I pretty much have told you indirectly exactly how that is possible with countless posts on a wide array of topics. I'm not ready to put it all together but needless to say we are far from a constructive outcome. Yet. We will more than likely have to see some type of collapse or incredible crisis first. As we have said before, I am not bullish on the future of America because I have faith in political idiots or because we have elected a brilliant Savior as President. Contrarily, I am bullish on America's future because I am bullish on the American people. This during a period of our existence that the media and Wall Street generally portrays Americans as uncompetitive, uneducated, unskilled, fat, dumb and lazy. This from the most incompetence and uneducated leaders in our history. A complete and utter lie.
We have written extensively on here about State's Rights. And not for the hell of it. There aren't any economists out there who have been writing about State's Rights over the last five years. Yet, it is an enormous dynamic in economics that is going to blind side the status quo.
The Nation just put up a piece on state banking. This is a prime example of States asserting their rights and sovereignty in a repudiation of the fraud in Washington and Wall Street. For every action, there is an equal but opposite reaction. As we have asserted countless times, public banking is the only legitimate form of democratic banking. Period. There is no plausible argument to the contrary. None. I can repudiate any argument put forth for private banking and democracy. Anyone who supports private banking is either an ideologue, uninformed, lacks an understanding of public banking or is putting capitalism before democracy. That last reason is why our economy is collapsing in the first place. And please don't tell me a public bureaucrat is not capable of being as good a banker as a private bureaucrat. Do you like your Medicare? Social Security? Your fire department? NASA? Our brilliant public scientific labs? Our State universities? If any bureaucrat, aka banker, was brilliant, they wouldn't be a banker. They would be part of the creative energy of society. The creative energy which drives society's wealth. Banking is a necessary, even potentially noble, but mundane business. A public banker is just as capable of guessing whether a business plan is viable and employing the same risk controls as a banker on Wall Street. A public banker is just as qualified to process a student loan application. Let's get real. This isn't rocket science. And if we have public labs employing rocket scientists doing brilliant work, we can sure as hell have a competent public banker.
This article doesn't describe the type of public banking system I would envision but it's a start. One brick at a time. We'll write about public banking in some detail at some point but for now this article will suffice as showing one of the great transformations taking place in America. There are many. They are all exciting.
The consequences of this action are absolutely incredible. If you think through this dynamic, every single piece of our economy would change forever. For the better. If every state creates it's own bank, Wall Street will never recover. Ever. And, that is as it should be. Wall Street's monopoly on capital in a democratic society can be classified as nothing short of tyranny. It breeds racism, lack of economic opportunity and perpetual underachievement for many capable people who are denied access to capital.
Long live democracy. The sooner Wall Street dies, the better.
Link here.
I have remarked repeatedly that the U.S. economy would roar with the right policies. We could be back to near zero unemployment within five years. I haven't told you explicitly what policy decisions that would take or what fundamentals would be required but if you have been reading my blog since it's inception, I pretty much have told you indirectly exactly how that is possible with countless posts on a wide array of topics. I'm not ready to put it all together but needless to say we are far from a constructive outcome. Yet. We will more than likely have to see some type of collapse or incredible crisis first. As we have said before, I am not bullish on the future of America because I have faith in political idiots or because we have elected a brilliant Savior as President. Contrarily, I am bullish on America's future because I am bullish on the American people. This during a period of our existence that the media and Wall Street generally portrays Americans as uncompetitive, uneducated, unskilled, fat, dumb and lazy. This from the most incompetence and uneducated leaders in our history. A complete and utter lie.
We have written extensively on here about State's Rights. And not for the hell of it. There aren't any economists out there who have been writing about State's Rights over the last five years. Yet, it is an enormous dynamic in economics that is going to blind side the status quo.
The Nation just put up a piece on state banking. This is a prime example of States asserting their rights and sovereignty in a repudiation of the fraud in Washington and Wall Street. For every action, there is an equal but opposite reaction. As we have asserted countless times, public banking is the only legitimate form of democratic banking. Period. There is no plausible argument to the contrary. None. I can repudiate any argument put forth for private banking and democracy. Anyone who supports private banking is either an ideologue, uninformed, lacks an understanding of public banking or is putting capitalism before democracy. That last reason is why our economy is collapsing in the first place. And please don't tell me a public bureaucrat is not capable of being as good a banker as a private bureaucrat. Do you like your Medicare? Social Security? Your fire department? NASA? Our brilliant public scientific labs? Our State universities? If any bureaucrat, aka banker, was brilliant, they wouldn't be a banker. They would be part of the creative energy of society. The creative energy which drives society's wealth. Banking is a necessary, even potentially noble, but mundane business. A public banker is just as capable of guessing whether a business plan is viable and employing the same risk controls as a banker on Wall Street. A public banker is just as qualified to process a student loan application. Let's get real. This isn't rocket science. And if we have public labs employing rocket scientists doing brilliant work, we can sure as hell have a competent public banker.
This article doesn't describe the type of public banking system I would envision but it's a start. One brick at a time. We'll write about public banking in some detail at some point but for now this article will suffice as showing one of the great transformations taking place in America. There are many. They are all exciting.
The consequences of this action are absolutely incredible. If you think through this dynamic, every single piece of our economy would change forever. For the better. If every state creates it's own bank, Wall Street will never recover. Ever. And, that is as it should be. Wall Street's monopoly on capital in a democratic society can be classified as nothing short of tyranny. It breeds racism, lack of economic opportunity and perpetual underachievement for many capable people who are denied access to capital.
Long live democracy. The sooner Wall Street dies, the better.
Link here.
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