Thanks again! You have quoted Upton Sinclair before. This article brought to mind his “The Moneychangers”. Although it was more about trusts, the point that so much power concentrated by so few leading to massive ruin for so many hits home. For anyone interested, you can read Sinclair’s books for free via www.gutenberg.org (as well as many other books whose copyrights have expired). A hundred years after his books about concentrated power in various industries we find ourselves in a similar situation. Until people are better educated, informed and well-read, history will keep repeating - so pass it on, and in the words of our dear departed Mr. Lewis, “make good trouble “.
“Give me control of a nation’s money supply and I care not who makes the laws” - NM Rothschild. The big four banks control ~50% of the nation’s deposits. Not consistent with the republic’s principles. But how to decentralize? Hard to see how the trend reverses without fundamental regulatory restructuring.
Thought,, showing where small to mid sizes towns accross the county that ALREADY turned to ghost towns. Thus, then with this and your local community, as forth to those small mom&pops shops, thats somewhat been able to still be out there,,,, here your future.
Wall Street will have it all. thus whom owns 80-90% of it.
As to Biden Adm. this kinda kills his speech about , " the middle class "
The point about Canadian banks is important. From personal experience, it’s much harder to get a $100,000 business line of credit than it is to get a $1,000,000 personal mortgage from a big Canadian bank. Business people bemoan the lacklustre business formation in Canada. Lots of great ideas and brilliant entrepreneurs up here, but they usually move to the US to commercialize. But nobody connects this to the concentrated banking system.
It's reveals like this I subscribed for - so what action items recommended for investors to send a message to Yellen and big banks, help shore up community banks and FCU's? Local savings, CD's, IRA's? Or . . . ?
I think the low interest rate policy of the Fed has caused an increase in the level of concentration in the housing market. Maybe I am wrong, but rental housing seems to be owned more and more by relatively large businesses. Be that as it may, as a grad student in the 70’s
I had trouble convincing the faculty that distributional effects of monetary policy are important. Friedman’s helicopter money (stimulus checks?) is different from increasing the money stock through the banking system via very low interest rates. And tight policy is not the opposite of expansionary policy, but I must admit that I never thought about it through a monopoly lens.
Princes of the Yen author, Richard Werner, makes the same point about the importance of local banks for the health of the economy. It looks like a lot more midsize and small banks will fail. It’s easy to see that mergers are a bad idea in general, but hard to know what is a better choice if crisis does worsen.
Thanks again! You have quoted Upton Sinclair before. This article brought to mind his “The Moneychangers”. Although it was more about trusts, the point that so much power concentrated by so few leading to massive ruin for so many hits home. For anyone interested, you can read Sinclair’s books for free via www.gutenberg.org (as well as many other books whose copyrights have expired). A hundred years after his books about concentrated power in various industries we find ourselves in a similar situation. Until people are better educated, informed and well-read, history will keep repeating - so pass it on, and in the words of our dear departed Mr. Lewis, “make good trouble “.
“Give me control of a nation’s money supply and I care not who makes the laws” - NM Rothschild. The big four banks control ~50% of the nation’s deposits. Not consistent with the republic’s principles. But how to decentralize? Hard to see how the trend reverses without fundamental regulatory restructuring.
Thought,, showing where small to mid sizes towns accross the county that ALREADY turned to ghost towns. Thus, then with this and your local community, as forth to those small mom&pops shops, thats somewhat been able to still be out there,,,, here your future.
Wall Street will have it all. thus whom owns 80-90% of it.
As to Biden Adm. this kinda kills his speech about , " the middle class "
The point about Canadian banks is important. From personal experience, it’s much harder to get a $100,000 business line of credit than it is to get a $1,000,000 personal mortgage from a big Canadian bank. Business people bemoan the lacklustre business formation in Canada. Lots of great ideas and brilliant entrepreneurs up here, but they usually move to the US to commercialize. But nobody connects this to the concentrated banking system.
Larry Summers! omg when Larry says something I go the opposite direction especially on his advice. If it's big money and status Larry will support it.
Interesting to read about Cantillon's theory. This report's stats are astonishing as well: https://www.aljazeera.com/program/featured-documentaries/2017/6/1/debt-machine
It is truly amazing how so many people of incompetence get into (and keep popping up in) positions of so much power. Yellen is just one of many.
It's reveals like this I subscribed for - so what action items recommended for investors to send a message to Yellen and big banks, help shore up community banks and FCU's? Local savings, CD's, IRA's? Or . . . ?
I think the low interest rate policy of the Fed has caused an increase in the level of concentration in the housing market. Maybe I am wrong, but rental housing seems to be owned more and more by relatively large businesses. Be that as it may, as a grad student in the 70’s
I had trouble convincing the faculty that distributional effects of monetary policy are important. Friedman’s helicopter money (stimulus checks?) is different from increasing the money stock through the banking system via very low interest rates. And tight policy is not the opposite of expansionary policy, but I must admit that I never thought about it through a monopoly lens.
Princes of the Yen author, Richard Werner, makes the same point about the importance of local banks for the health of the economy. It looks like a lot more midsize and small banks will fail. It’s easy to see that mergers are a bad idea in general, but hard to know what is a better choice if crisis does worsen.
Summers is a moron of the highest order. The opposite of whatever he bleets tends to be closer to reality.
thanks for all you do. please read the piece in the Jordan Times. https://jordantimes.com/opinion/yanis-varoufakis/new-ai-germ-busters-can-also-bust-unions
https://jordantimes.com/opinion/yanis-varoufakis/new-ai-germ-busters-can-also-bust-unions