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Federal Reserve

Banks Demonstrate They Are Our Government

bankster bonus I am shocked. Shocked, I tell you. From Australian ABC News: “Billions in hidden subsidies going to too-big-to-fail banks.” As the first round of submissions to the Federal Government's Financial Systems Inquiry closed this week there was a timely reminder that the fundamental cause of the global financial crisis is still deeply embedded in the […] Continue reading →

The Rich Get Richer Because the Game Is Rigged

piketty-saez-top10a This is one of those must reads to come to grips with what has, and is, happening. From the Of Two Minds blog: Financialization results when leverage and information asymmetry replace innovation and productive investment as the source of wealth creation. Emmanuel Saez and Thomas Piketty are leading lights in the exploration of rising wealth […] Continue reading →