(ZHE) While in recent weeks there has been a material increase in Fed balance sheet normalization chatter, according to a new report from Deutsche Bank analysts, it may all be for nothing for one simple reason: should the US encounter a recession in the next several years, the most likely reaction by the Fed would be another $1 trillion in QE (see: bailout), delaying indefinitel
Most agree that banks should keep our money safe and avoid unnecessary risk. But is the sector capable of much more than avoiding leading us into another financial crash?
The post Could banks not just be less bad, but a force for positive change? appeared first on Positive News.
The basic principle of the post-industrial, post-modern theory of value and surplus value is that the human species produces surpluses of all types and kinds, regardless of his or her situation and/or social position. As a result, for the post-industrial, post-modern theory of value and surplus value, the human species by definition is constantly immersed in an existential process of value and surplus value production, wherever he or she is stationed in the capitalist socio-economic hierarchy.
Bloodletting as a medical practice flourished for thousands of years before finally yielding to more “enlightened” medicine except in special circumstances. One of history’s ironies is that America’s first president, George Washington, a bloodthirsty warrior before and during his presidency, died arguably from bloodletters called in to his bedside to let out one-fourth of his blood.
Ålandic economist Isac Boman is the author of Money Power: A Force for Freedom or Slavery?. Boman’s original book on monetary theory is based on his Master’s thesis at Åbo Akademi University in 2015, which he wrote while working as a back-office manager at the Bank of Åland. Currently, he is mainly seen as a columnist for Nya Dagbladet – one of the more prominent non-establishment media platforms in Sweden.
Demurrage
Demurrage is part of the wider system called EnMo economics. In this model the main business of the state is ensuring that people have enough of everything they need of essential goods and services. To this end the state ensures that anyone who wants to work is able to do so, helping to provide those essential goods and services.
There are a couple of basic concepts to understand before explaining a little detail about demurrage.
There are two main problems with existing monetary theory. The first is serious, the second is mainly a technical administrative issue.
The first and most serious problem with monetary theory, which is seldom directly addressed, is the fact that money supply is nearly always controlled by a super-rich and powerful minority and, more to the point, is nearly always controlled in such a way that suits the personal interests of the super-rich and powerful – not the interests of society as a whole.
Americans could save $1 trillion over 10 years by financing infrastructure through publicly-owned banks like the one that has long been operating in North Dakota.
Canadian capitalism is in crisis, with household debt reaching a record high 166.9 per cent of disposable income and about 208 per cent of GDP, and wage stagnation is a primary cause.
Richard Vague told the Globe and Mail “any country whose private-debt-to-GDP ratio goes beyond 150 per cent and that has a five-year growth rate of 18 per cent or greater in that ratio experiences a financial crisis at some point.” The Globe says Canada has already passed both benchmarks in its ongoing borrowing binge.
The secret of great fortunes without apparent cause is a crime forgotten, for it was properly done.
— Honoré de Balzac, Le Père Goriot, 1835
