We Already Print Money Like Crazy

– We printed trillions of dollars In 2009 – 2014 and gave it to the banks, so they could lend cheap money to the rich. – Of course it wasn’t “we the people” that printed it, it was “we the banks” at the Federal Reserve who printed this new money. It probably helped buoy employment and didn’t much inflate the prices of regular goods, and it definitely didn’t increase wages. So what was it spent on? – This new money was lent to creditworthy borrowers at a time when no […]

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The Case for Nationalization

– Citigroup was nearly a public bank. – During the 2007-2008 Great Financial Crisis, the Bush and Obama Treasury Departments, the Federal Reserve, and the leaders of the largest banks and insurance companies in the nation conspired to find a way out of the mountain of worthless debt that was about to fall on the planet. The pages of the Washington Post and Wall Street Journal bore headlines foretelling the end of American capitalism. The people entrusted to manage risk across our entire economy, the people running our large banks, […]

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