Perhaps you should start with educating our Congressmen and Senators.
When Ron Paul begins to sound like the only one making any sense - something is askew.
Will the 'toxic assets' on the Fed's balance sheet from the various Maiden Lane entities every be worth their original value? If not, at point does the Fed write-off billions of dollars in assets? If so, does the Fed intend to sell these "assets" in the open market?
Some of the people teaching econ are pretty clueless frankly. I had microeconomics with some TA who was clearly more interested in retaining a Visa than teaching and he never made much sense at all and also acted like the class was stupid if they questioned the nonsensical lecture. So, of the people who could "do math" and I went to a very heavily front loaded STEM school, so people could "do math"....it still was a real turn off.
I won't name names but I see full professors writing economic fiction and ya gotta wonder if anyone who is interested in objectivity, really examining anything, if the minute they conclude something different from these professors if they are plain flunked out for going against that particular religion.
I remember in college I took a political economic class and one of the first questions asked was there any "math" involved in the class and the professor almost lost it and regained his composure and said "yes" and at the next class meeting and for the rest of the semester there were quite a few empty seats.
"Financial Innovation" has brought an incredible amount of complexity to a system that was already lacking in knowledgeable participants.
To put the focus on purely all things econ as well as give voice to people who are always shut out and try to form a bridge in deciphering economists, Academia, Congress, policy, legislation.
This is why I'm personally so intent on accuracy. There is so much misinformation out there it's critical to have blog posts where people research, cite and have credibility in posts, regardless of where that data takes someone.
We've had liberal beliefs on EP, so this isn't just a bunch of Republicans spewing economic fiction. It's a fundamental issue that folks have great difficulty seeing the big picture or considering something before judgment.
One of the things I notice, when you put a couple of numbers into the conversation, usually your audience becomes brain dead. It's seriously scary out there how people cannot deal with numbers. It's like they mean nothing to the public at large.
Our motto is "Financial Information for the Rest of Us." The objective is to try provide information regarding personal finance and economics in a way that people understand. We are trying to eliminate the "Wall Street speak".
Studies have shown that financial illiteracy is widespread across the U.S. and in my opinion contributed to the financial crisis. Financial illiteracy has been linked to lack of retirement savings, poor retirement planning and very bad borrowing habits.
Increasing financial literacy has been a passion of mine for many years.
just plain leave the entire system of private alone,let it exist, as is. Then pass H.R. 676 intact and let the two systems exist side by side. In other words, simply build the universal single payer system and completely ignore the private one, say sure thing, go right ahead but this is what we're doing and do it right.
Then about the only thing I can see in terms of regulation after that is require all MDs, hospitals, etc. to accept universal single payer patients, by law and they cannot discriminate against accepting patients if they are on Medicaid, Medicare, single payer.
Every study I've read what you're saying is true, the health sector is determined to keep their profits going and if anyone at all invests or monitors quarterly earnings, we all know how this entire sector has been touted as the great money maker going forward and you're right, they are determined to keep that going when it's clearly fundamentally flawed to make capitalistic profits off of sick people. That's the bottom line, it's immoral to make absurd profits off of sick people, plus it destroys an economy in the long run, they are literally like vampires.
How do you justify keeping consumer financial regulatory authority, or even allow the idea of the Fed as systemic risk regulator when the Federal Reserve:
1. Missed the housing bubble
2. Created conditions to create the housing bubble
3. has done nothing about predatory financial products
What is the Federal Reserve hiding in that they do not want a AIG audit? Just like any national security issue, certain information can be kept secret as part of an audit but in terms of what the Federal Reserve has done in terms of $2 trillion dollars in commitments to financial institutions why is it you do not want the public or Congress to know who got the money?
Was the Federal Reserve part of the AIG bail out and why was it allowed to pay out CDSes to other TARP recipients and other foreign banks @ 100%?
If the universal coverage and single-payer features of the Canadian system were applied in the United States, the savings in administrative costs alone would be more than enough to finance insurance coverage for the millions of Americans who are currently uninsured. There would be enough left over to permit a reduction, or possibly even the elimination, of copayments and deductibles, if that were deemed appropriate.
What it comes down to is profit? If we had a single payer system that would mean less profits and a much smaller private health insurance industry, big pharma industry and doctors particularly specialists would not be making big money. We rather keep those industries and doctors happy instead of providing health care, which would be much cheaper than our current system, to millions and millions of Americans.
There is the fundamental problem. They won't simply enact a new system based on what objective experts are saying and instead are letting the insurance companies, pharmaceutical companies try to run the show.
I haven't watched the latest but it looks like another bad bill, like the prescription drug benefit is bound to emerge.
So, it's no wonder to me, with the for profit insurance companies in the mix their bill would be scored at $1 trillion dollars.
Then, it's clear there are many bought and paid for Senators, especially who will block legislation. Those people should be exposed.
The Republicans are insane. Oooo, scary socialism!
Have you noticed the rhetoric is on maximum and no one is talking about what is in these actual bills?
I haven't bothered to analyze what's going on because it's clearly something they will change at the last minute, per the request of lobbyists and also being driven by lobbyists at this point.
As you are an expert on the Great Depression, are you aware that securitization originated in the decade preceding the Great Depression when mortgage insurance companies sold guaranteed mortgage participation certificates for pools of mortgage loans? Are you aware of the similarity to what is transpiring today with the present securitization process."
Here is a most outstanding analysis from the best group around on single payer - and these guys should know.
Unfortunately, everything by President Obama to date has pretty much be a ruse, very reminiscent of the Clinton Administration, which recalls why so many dems turned away from them during the following congressional elections (although they always claim it was the voters' fault - perhaps, but I doubt it! Used to be a dem - now a Green!).
That tobacco bill - a farce. The cap-and-trade, yet another way to continue securitization and the CDS/credit derivatives scam (just research the ownership of Climate Exchange, PLC - holding company owner of all those climate exchanges here in North America, in Europe, and China - as well as ownership of ICE, ICE US Trust, Markit Group and DTCC), and this public option yet another ruse.
An interesting side note, the prez mentioned that "Skip" Gates (Dr. Henry Louis Gates, Jr.) was a close friend. Dr. Gates is a member of the Bretton Woods Committee, along with a number of Obama Administration appointed people such as Diana Farrell, Laura Tyson, Richard Holbrooke and so forth. Bretton Woods Committee is considered to be the most anti-worker, anti-union organization on the planet; plus it is the lobby group for the ultra-rich.
1) Education - we have to improve financial/economic literacy in this country. That is the main reason why I created www.rebelcapitalist.com. If more people understood how the financial system and economic system operated they would not be happy and be more willing to change it.
2) Policy - craft policy that translate into legislative proposals. Take those proposals and promote them to public and generate a grassroots movement like Yellow Dog said. Find a like minded congressperson who could introduce the bill and get sponsors then use movement to get the legislation passed.
Sounds too easy. LOL. Seriously, I think education is key. There is big reason why we have high levels of financial/economic illiteracy in this country and it is not because of benign neglect.
As a member of a CU you maybe part "owner" of the CU. You actually can have a say in the direction of the CU. Boy, what a concept!
Yes, some CUs have not been immuned from the mortgage crisis but how they dealt with it and how the Fed/Treasury dealt with financial conglomerates was night and day. CUs took their lumps and actually all CUs paid a price through higher assessments from NCUA.
to health care was going to work this time. But I have since come to my senses. It is not. I believe now that the current "reforms" being discussed in Washington will do nothing to address the most important problem: controlling cost.
I am convinced more than ever that the only way to go is single payer health care. Right now there are several pieces of legislation in Congress that have not been "scored" by the CBO. It is time to do so. Sen. Sanders has S. 703 (American Health Security Act) and Rep. Conyers has proposed H.R. 676. They are not companion bills because they take slightly different approaches to doing the same thing: universal coverage and single payer.
H.R. 676 has over 50 sponsors in the House but S. 703 has no sponsors in the senate.
It is time to that the CBO score these bills!
S. 703 is based on the late Sen. Wellstone's bill S. 491.
banks previously did in making sure that loans could be repaid.
Also, CU's are protected just like FDIC insured banks are.
I chose a CU because I wanted to make sure I was with an institution that would not eventually be gobbled up by a large conglomerate bank.
Some CU's have faced problems with CRE loans and (though I will have to search for it), there is a link where you can search CU's balance sheets to make sure that a chosen CU is healthy.
You have a great site and a great cause!
Perhaps you should start with educating our Congressmen and Senators.
When Ron Paul begins to sound like the only one making any sense - something is askew.
Will the 'toxic assets' on the Fed's balance sheet from the various Maiden Lane entities every be worth their original value? If not, at point does the Fed write-off billions of dollars in assets? If so, does the Fed intend to sell these "assets" in the open market?
Some of the people teaching econ are pretty clueless frankly. I had microeconomics with some TA who was clearly more interested in retaining a Visa than teaching and he never made much sense at all and also acted like the class was stupid if they questioned the nonsensical lecture. So, of the people who could "do math" and I went to a very heavily front loaded STEM school, so people could "do math"....it still was a real turn off.
I won't name names but I see full professors writing economic fiction and ya gotta wonder if anyone who is interested in objectivity, really examining anything, if the minute they conclude something different from these professors if they are plain flunked out for going against that particular religion.
I remember in college I took a political economic class and one of the first questions asked was there any "math" involved in the class and the professor almost lost it and regained his composure and said "yes" and at the next class meeting and for the rest of the semester there were quite a few empty seats.
"Financial Innovation" has brought an incredible amount of complexity to a system that was already lacking in knowledgeable participants.
To put the focus on purely all things econ as well as give voice to people who are always shut out and try to form a bridge in deciphering economists, Academia, Congress, policy, legislation.
This is why I'm personally so intent on accuracy. There is so much misinformation out there it's critical to have blog posts where people research, cite and have credibility in posts, regardless of where that data takes someone.
We've had liberal beliefs on EP, so this isn't just a bunch of Republicans spewing economic fiction. It's a fundamental issue that folks have great difficulty seeing the big picture or considering something before judgment.
One of the things I notice, when you put a couple of numbers into the conversation, usually your audience becomes brain dead. It's seriously scary out there how people cannot deal with numbers. It's like they mean nothing to the public at large.
Our motto is "Financial Information for the Rest of Us." The objective is to try provide information regarding personal finance and economics in a way that people understand. We are trying to eliminate the "Wall Street speak".
Studies have shown that financial illiteracy is widespread across the U.S. and in my opinion contributed to the financial crisis. Financial illiteracy has been linked to lack of retirement savings, poor retirement planning and very bad borrowing habits.
Increasing financial literacy has been a passion of mine for many years.
just plain leave the entire system of private alone,let it exist, as is. Then pass H.R. 676 intact and let the two systems exist side by side. In other words, simply build the universal single payer system and completely ignore the private one, say sure thing, go right ahead but this is what we're doing and do it right.
Then about the only thing I can see in terms of regulation after that is require all MDs, hospitals, etc. to accept universal single payer patients, by law and they cannot discriminate against accepting patients if they are on Medicaid, Medicare, single payer.
Every study I've read what you're saying is true, the health sector is determined to keep their profits going and if anyone at all invests or monitors quarterly earnings, we all know how this entire sector has been touted as the great money maker going forward and you're right, they are determined to keep that going when it's clearly fundamentally flawed to make capitalistic profits off of sick people. That's the bottom line, it's immoral to make absurd profits off of sick people, plus it destroys an economy in the long run, they are literally like vampires.
How do you justify keeping consumer financial regulatory authority, or even allow the idea of the Fed as systemic risk regulator when the Federal Reserve:
1. Missed the housing bubble
2. Created conditions to create the housing bubble
3. has done nothing about predatory financial products
What is the Federal Reserve hiding in that they do not want a AIG audit? Just like any national security issue, certain information can be kept secret as part of an audit but in terms of what the Federal Reserve has done in terms of $2 trillion dollars in commitments to financial institutions why is it you do not want the public or Congress to know who got the money?
Was the Federal Reserve part of the AIG bail out and why was it allowed to pay out CDSes to other TARP recipients and other foreign banks @ 100%?
Link
I found it from this article Single Payer System Cost?
What it comes down to is profit? If we had a single payer system that would mean less profits and a much smaller private health insurance industry, big pharma industry and doctors particularly specialists would not be making big money. We rather keep those industries and doctors happy instead of providing health care, which would be much cheaper than our current system, to millions and millions of Americans.
I didn't know you had this site at all, so you might add it to a signature on EP.
There is the fundamental problem. They won't simply enact a new system based on what objective experts are saying and instead are letting the insurance companies, pharmaceutical companies try to run the show.
I haven't watched the latest but it looks like another bad bill, like the prescription drug benefit is bound to emerge.
So, it's no wonder to me, with the for profit insurance companies in the mix their bill would be scored at $1 trillion dollars.
Then, it's clear there are many bought and paid for Senators, especially who will block legislation. Those people should be exposed.
The Republicans are insane. Oooo, scary socialism!
Have you noticed the rhetoric is on maximum and no one is talking about what is in these actual bills?
I haven't bothered to analyze what's going on because it's clearly something they will change at the last minute, per the request of lobbyists and also being driven by lobbyists at this point.
...sucking up Goldman Sachs, JPMorgan Chase, Citigroup, ExxonMobil execs and excreting money??
Oopsy! I think someone already invent that.
"Sir,
As you are an expert on the Great Depression, are you aware that securitization originated in the decade preceding the Great Depression when mortgage insurance companies sold guaranteed mortgage participation certificates for pools of mortgage loans? Are you aware of the similarity to what is transpiring today with the present securitization process."
Right you are, buckaroo!
Here is a most outstanding analysis from the best group around on single payer - and these guys should know.
Unfortunately, everything by President Obama to date has pretty much be a ruse, very reminiscent of the Clinton Administration, which recalls why so many dems turned away from them during the following congressional elections (although they always claim it was the voters' fault - perhaps, but I doubt it! Used to be a dem - now a Green!).
That tobacco bill - a farce. The cap-and-trade, yet another way to continue securitization and the CDS/credit derivatives scam (just research the ownership of Climate Exchange, PLC - holding company owner of all those climate exchanges here in North America, in Europe, and China - as well as ownership of ICE, ICE US Trust, Markit Group and DTCC), and this public option yet another ruse.
An interesting side note, the prez mentioned that "Skip" Gates (Dr. Henry Louis Gates, Jr.) was a close friend. Dr. Gates is a member of the Bretton Woods Committee, along with a number of Obama Administration appointed people such as Diana Farrell, Laura Tyson, Richard Holbrooke and so forth. Bretton Woods Committee is considered to be the most anti-worker, anti-union organization on the planet; plus it is the lobby group for the ultra-rich.
1) Education - we have to improve financial/economic literacy in this country. That is the main reason why I created www.rebelcapitalist.com. If more people understood how the financial system and economic system operated they would not be happy and be more willing to change it.
2) Policy - craft policy that translate into legislative proposals. Take those proposals and promote them to public and generate a grassroots movement like Yellow Dog said. Find a like minded congressperson who could introduce the bill and get sponsors then use movement to get the legislation passed.
Sounds too easy. LOL. Seriously, I think education is key. There is big reason why we have high levels of financial/economic illiteracy in this country and it is not because of benign neglect.
deposit insurance through private insurance.
As a member of a CU you maybe part "owner" of the CU. You actually can have a say in the direction of the CU. Boy, what a concept!
Yes, some CUs have not been immuned from the mortgage crisis but how they dealt with it and how the Fed/Treasury dealt with financial conglomerates was night and day. CUs took their lumps and actually all CUs paid a price through higher assessments from NCUA.
to health care was going to work this time. But I have since come to my senses. It is not. I believe now that the current "reforms" being discussed in Washington will do nothing to address the most important problem: controlling cost.
I am convinced more than ever that the only way to go is single payer health care. Right now there are several pieces of legislation in Congress that have not been "scored" by the CBO. It is time to do so. Sen. Sanders has S. 703 (American Health Security Act) and Rep. Conyers has proposed H.R. 676. They are not companion bills because they take slightly different approaches to doing the same thing: universal coverage and single payer.
H.R. 676 has over 50 sponsors in the House but S. 703 has no sponsors in the senate.
It is time to that the CBO score these bills!
S. 703 is based on the late Sen. Wellstone's bill S. 491.
banks previously did in making sure that loans could be repaid.
Also, CU's are protected just like FDIC insured banks are.
I chose a CU because I wanted to make sure I was with an institution that would not eventually be gobbled up by a large conglomerate bank.
Some CU's have faced problems with CRE loans and (though I will have to search for it), there is a link where you can search CU's balance sheets to make sure that a chosen CU is healthy.
A great deal of information is available at NCUA
Must studies show that CUs provide better value and services than a big money center bank (AKA TARP recipients).
from Zero Hedge and Naked Capitalism on Rep. Grayson's interrogation of Bernanke.
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