Today I present a deeply insightful guest essay by frequent contributor Zeus Yiamouyiannis, Ph.D.
Nothing succeeds like failure when you are a big bank. We’ve already seen that. Too many articles have already been written about that.
• “The recession has ended.”
• “The weak dollar is good for trade.”
• “Debt just needs to be ‘restructured.’”
• “We just need more government stimulus spending.”
• “Federal zero interest rate policies (ZIRP) help everyone.”
• “Unemployment is down.”
• “Financial services”, which turn out to be so laden with hidden fees and loosened/fabricated credit qualifications that the lendee is worse off?
• Allegiances that concentrate financial wealth the top 0.1% of the population, causing the vast majority of the world to get poorer?
“I thought that if there was ever going to be a political figure that would take on the interests of Wall Street, and put the American people… above the monied interests, it was going to be President Obama, and that just didn’t happen. In fact it was the opposite. He had the same ideology as Timothy Geithner [and others from Wall Street]: ‘Protect the banks. What is best for the biggest banks is what’s best for the country.’”
1. Debt and financialization
2. Crony capitalism and the elimination of accountability
3. Diminishing returns
5. Technological, financial and demographic changes in our economy
This week only, 20% discount on the Kindle edition: $7.95 (retail $9.95) print edition: $24 on Amazon.com
To receive a 30% discount on the print edition: $16.80 (retail $24), follow the link, open a Createspace account and enter discount code B9G5JDXD. (This is the only way I can offer a discount.)
|Thank you, Anthony B. ($25), for your splendidly generous contribution to this site--I am greatly honored by your support and readership.|