Ellen Brown: The answer is that while banks do not need the deposits to create loans, they do need to balance their books; and attracting customer deposits is usually the cheapest way to do it.
Joe Mathews: The question itself–will workers getting a raise be better off?–has been missing from this fall’s white-hot debate over efforts in San Francisco and Los Angeles to establish $15 per hour minimum wages.
Jim Hightower: Beware, ye who love local beer – do not just sit on your duffs, doing 12-ounce elbow bends, for here come the Big Brew Bastards again, bigger and more menacing than ever.
Ellen Brown: Concerns are growing that we are heading for another banking crisis, one that could be far worse than in 2008. But this time, there will be no government bailouts.
RJ Eskow: We are told that AIG and the big banks were rescued in order to prevent a systemic failure. But there was a systemic failure of sorts. In fact, there were a number of them.
Sylvia Allegretto : On this side of the Great Recession, after much discussion of inequality, it looks like it is going to be more of the same—typical workers and their families who paid the price during the downturn have gained little during the upturn.
Heather Seggel: When your work doesn’t demand a physical address and you’ve lost social contacts and the web of connections they provide, it’s all too easy to find yourself hovering more or less nowhere.
Robert Reich: The real job creators are members of America’s vast middle class and the poor, whose purchases cause businesses to expand and invest.
Ellen Brown: Municipal bonds have been eliminated from the list of high-quality liquid collateral assets, so banks are liable to start dumping them in favor of the Treasuries and corporate bonds.
RJ Eskow: Their instinct seems to be to trumpet what’s right about the economy instead. But that message won’t resonate when economic conditions are so miserable for so many people.
Veronica An: Although cause-related marketing brings attention to important issues, it risks trivializing problems and posing consumerism as a solution.
Ellen Brown: When an article appears in Foreign Affairs, the mouthpiece of the policy-setting Council on Foreign Relations, recommending that the Federal Reserve do a money drop directly on the 99%, you know the central bank must be down to its last bullet.
RJ Eskow: The actual rate paid by American corporations, once they’re done applying all the loopholes their lobbyists in Washington have designed, their actual rate is at the low end of the global tax spectrum – and this at a time when many corporations are achieving record-breaking profits.