The global economy faces so many headwinds at present that it’s hard to know where to begin. China’s real estate bubble has popped, capital flight has put emerging markets into a nosedive, commodities prices have plunged triggering fears of deflation, the economic data is increasingly bleak, and the Fed’s plan to “normalize” rates has sent stocks gyrating like never before.
One would hope that Cameron and Osborne fully understand the mechanics of modern money creation (although a recent survey by Positive Money shows 90% of their fellow MPs do not). Most of our money is created by private banks when they make loans. It doesn't have to be this way. Another world is possible.
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The ideas and vision that Jeremy Corbyn represents, for so long buried beneath a ton weight of Thatcherite ideology, have risen from their slumber and are now part of the mainstream political discourse again, breathed new life by thousands of young people who demand a real and humane alternative to the thin gruel that passes for reality today.
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Only when Mark Carney, Christine Lagarde and Prince Charles start talking about the abolition of privately created debt-based money should we even begin to take them seriously. Of course such an affront to the obscenely wealthy would have seen even Prince Charles ejected from the Mansion House soiree.
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King wanted the government to eradicate poverty by providing every American a guaranteed, middle-class income—an idea that, while light-years beyond the realm of mainstream political conversation today, had actually come into vogue by the late 1960s.The post Remembering Martin Luther King, Jr.’s Solution to Poverty appeared first on BSNEWS.
That the funds the government already spends on antipoverty programs, if cashed out, would be more enough to raise everyone above the official poverty line.
The news that Switzerland will hold a referendum on a proposal to provide every citizen with an unconditional grant of 2,500 Swiss francs a month (about $2,800) has sparked renewed interest in the old idea of a universal basic income (UBI).
RT | October 6, 2013
Some 120,000 Swiss signatories have put their names to a petition demanding a monthly minimum wage of $2,800 (2,500 Swiss francs) for every single member of the working adult population. Enough names have been collected for a government vote.
Anything less than the proposed amount would be deemed illegal, even for people working in the lowest paid jobs. A typical fast-food worker in the US earns roughly $1,500 per month.
