Paul Tepper and Paulina Gonzalez: About $19 million goes annually to pay bank and ATM fees, rather than to help parents pay for their kids’ needs like co-pays for medicine, school supplies, heating bills, or transportation to work and school.
Melissa Goodman: The ACLU supports the Raise LA campaign because basic economic rights are inextricably intertwined with civil rights and civil liberties. When Californians lack basic economic security – when they are unable to or must struggle to fulfill basic human needs – they cannot fully exercise their civil liberties and civil rights.
Ellen Brown: Argentina has now taken the US to The Hague for blocking the country’s 2005 settlement with the bulk of its creditors. The issue underscores the need for an international mechanism for nations to go bankrupt. Better yet would be a sustainable global monetary scheme that avoids the need for sovereign bankruptcy.
Ellen Brown: The rules have been changed before and can be changed again. Depressions, credit crises and financial collapse are not acts of God but are induced by mechanical flaws or corruption in the financial system. Credit may stop flowing, but the workers, materials and markets are still there. The system just needs a reboot.
Ellen Brown: Mortgage debt overhang from the housing bust has meant lack of middle-class spending power and consumer demand, preventing the economy from growing. The problem might be fixed by a new approach from the Fed. But if the Fed won’t act, counties will, as seen in the latest developments on eminent domain and litigation over MERS.
Ellen Brown: Today, however, central banks are on a global corporate buying spree not to bail out bankrupt corporations but simply as an investment, to compensate for the loss of bond income due to record-low interest rates. Indeed, central banks have become some of the world’s largest stock investors.