Category Archives: Economics

My latest interview on Ellen Brown’s podcast, It’s Our Money

In Ellen’s October 10 podcast, on which I was the featured guest, I argue that our best hope for escaping the tyranny of the global banking cartel lies in creating a decentralized network of exchange in which credit is locally controlled and allocated based on personal relationships and the productive capacity of community economies (starting at 27:25). This episode begins with a report by David Jette of the California Public Banking Alliance on the landmark public banking legislation that was recently passed into law in California. David describes what this act enables and the long and arduous process of getting it passed.

https://www.podbean.com/eu/pb-tuza2-c2cf19

LowImpact.org, working toward a new economy and a new society

We need to change direction urgently, by building a new kind of economy and society, and there are 4 ways that we can do this:
1. By changing the way we live – https://www.lowimpact.org/topics-2/
2. By changing the way we spend our money –
https://www.noncorporate.org/
3. By changing the exchange medium – https://www.lowimpact.org/why-join-ne…
4. By federating and growing the non-extractive economy

Watch the video

An important new book

Rebuilding after Collapse: Political Structures for Creative Response to the Ecological Crisis

Edited by John Culp

As society grapples with the reality of climate change, many believe that technology will somehow save the planet. As this book argues, that is not enough: larger-scale collaboration, coordination, and funding is needed. Individuals and groups, even with significant personal resources, will not be able to reverse the present course of ecological disaster. What our endangered planet needs is broadly supported community action, which is what happens when people come together and organize for the common good. What we need, in short, is political structures and actions. The essays in this book examine the political structures that have led to our present crisis and offer concrete lessons from the U.S., Japan, Brazil, and Greece, that can, if heeded, bring us back from the brink and toward an ecological civilization.

This book of essays emerged out of some of the presentations that were given at a major conference, Seizing an Alternative: Toward an Ecological Civilization. that was organized by Center for Process Studies and held at Pomona College (CA) in June 2015 and attended by more than 1500 people. It includes two of my own essays, Greece and the Global Debt Crisis, and How Private Currencies and Credit Clearing Exchanges Can Help Save Civilization, as well as essays by John Cobb, Ellen Brown, Gayle McLaughlin and several others.

The full list of contents and order form can be found here. The book can also be ordered on Amazon.com

Economic justice and the true meaning of the parable of the talents

I have, of late, been attending Sunday services at Grace St. Paul’s Episcopal Church in Tucson. What that might say about my views on religion is something I’ll save for a later time, but among the things that have drawn me to involve myself with that place are, first of all, its declared mission of caring, openness, social action and inclusion, and secondly, the deep insights into Biblical and related scriptures of its rector, Rev. Steve Keplinger.

In his sermon of November 19, 2017, Rev. Steve Keplinger explains the meaning of the parable of the talents (Matthew 25:14-30). Looking at it in the context of the prevailing culture at the time of Jesus, and the audience he was addressing, Steve’s interpretation will surprise you, as it did me. It makes a great deal more sense than the interpretations I (and probably, you) heard in your earlier religious education.

The first part of the audio recording is a clip from the soundtrack of the movie, Jaws, in which two of the characters compare their scars from wounds suffered in previous encounters. That sets the stage for Steve to describe his spiritual scars that remain from his earlier encounters with incorrect interpretations of that parable. You can listen to it here or on the Grace St. Paul’s website, or you can read the transcript here.

Roberts says raise taxes on corporations’ offshore profits; the FED manipulates all markets, may crash the economy.

Here is another excellent interview of Dr. Paul Craig Roberts in which he outlines the political situation in the U.S, some of the prospects for the Trump administration, limits to Presidential power,  and what would need to be done to rebuild the American economy.

Prepare to be poorer

Michael Hudson is one of the few academic economists who is worth listening to. He understands how bankers and politicians of both major parties have been deceiving and fleecing the people and he is willing to expose it. In this video he explains how it works and how both Trump and Hillary have planned to continue (and intensify) the fleecing

Michael Hudson: Donald Trump Wants to Make the 1% Even Richer

What do Trump supporters and Sanders supporters have in common?

It has been said that “all TV is entertainment.” Whether a program is labeled “news” or a “candidates’ debate,” that characterization still applies. Well, the current Presidential campaign has sure been entertaining, with Donald Trump’s bombast and Bernie Sanders’ grandfatherly populism, in contrast to Hillary Clinton’s bland appeal to feminism and her (dubious) record of achievement.

Hillary is clearly the favorite of the establishment, the darling of Goldman Sachs and big corporate business, and the standard bearer for the status quo and continuation of Obama’s policies.

On the Republican side, it seems that no establishment candidate has so far been able to derail the Trump march toward the nomination. The last best hope for them at this point seems to be Ted Cruz. While Cruz has been trying to portray himself as being against the big banks, the fact is that his wife, Heidi, is an investment banker and a longtime employee of Goldman Sachs. Furthermore, his 2012 Senate campaign was financed in part by a sizeable loan from Goldman Sachs. For the details on all of this see John Cassidy’s New Yorker article at http://www.newyorker.com/news/john-cassidy/ted-cruzs-goldman-sachs-problem.

Despite the evident philosophical differences between Republicans and Democrats and the outdated characterization of political sentiments as being either right or left, conservative or liberal, the phenomenon of massive popular support for the two apparent anti-establishment candidates, Donald Trump and Bernie Sander, reflects a deeper concern that is shared amongst their supporters.

They are sick and tired of politics as usual and the course this country has been on for the past three decades.

They are sick and tired of:

  • Politicians who promise one thing but deliver another.
  • “Political correctness” that interferes with our ability to debate the deeper issues and concerns.
  • The rich getting richer and ever more powerful while the middle class is being destroyed.
  • Big banks that are “too big to fail” yet refuse to provide adequate financing to small local businesses.
  • Legislation that favors big corporations over small and medium-sized enterprises.
  • Fiscal policies that reduce taxes on corporations and the rich while forcing states and municipal governments to assume ever greater burdens.
  • Trade agreements that cede power from sovereign governments to transnational corporations thus undermining democratic government, the rights of labor, and environmental protections.
  • A disastrous foreign policy of interference in countries around the world that kills thousands of innocent people and stirs up hornet’s nests of resentment that manifest as massive displacements of people and acts of terror against the U.S. and its European NATO allies.

Can either Trump or Sanders, or anyone else for that matter, remedy any of those concerns from the White House? Given the present political structures and dynamics of power based on the control of money, that seems very unlikely. Reversing the destructive anti-democratic trends will take a massive popular movement, one that makes clear to people what their common interests are, and is able to get them to work in harmony toward common goals.

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