and just a remark, for several decades, we had very successful and relatively uncorrupt public housing in Europe, which helped millions of working class people to a house, either through cheap rent or cheap mortgages .. in fact, the real estate bubbles started at pretty much the same time they stopped doing this, and housing shortages became permanent after this ... just to mention the example of my own family, in a country which still had child labourers dying in their teens until the fifties, 'government policies' insured free education, free healthcare, cheap quality housing, allowing a child of two orphan working class parents to go to the university ... all of this was slowly dismantled, but not completely, in the 80's with the neoliberal counterrevolution ... I would not be surprised if U.S. welfare institutions were gutted and defunded, then blamed for their failures because they were 'government' ... I'm not saying this as an absolute fan of 'government', just as a counterpoint to the right-libertarian myth that governments are always bad and corporations always good (I'm slightly exagerating but the essence is really that) Natalie, most often you will see that those pocketing the $$$ are not 'liberals' but actually archconservatives using libertarian justifications for their looting ... Michel On Wed, Oct 12, 2011 at 8:36 PM, Natalie Golovin <[email protected]> wrote:
Hello Peers-I've been following Michael Hudson for a long time. Libertarian economic ideas are shunned by mainstream candidates & progressives won't listen with open minds. If you like Hudson & Yves Smith- maybe P2P could listen more carefully to details put forth by Ron Paul, Ralph Nader, Dennis Kucinich. Not the panacea you imagine, but much closer to freedom then the criminals in charge now. Hope you've read "Reckless Endangerment" and learned how conniving businessmen used affordable housing and were protected by an aura of political correctness-to build the Fannie/Freddie scheme. Often regulatory capture is used by the Left to promote equality but the $$$ ends up in the pockets of the liars-posing as liberals.
-----Original Message----- From: [email protected] Sent: Wednesday, October 12, 2011 5:46 AM To: P2P Foundation mailing list ; toeslist.yahoogroups.com Subject: [P2P-F] Michael Hudson video *****
In this Real New Network interview Michael Hudson has put forth the best reasoning that I've heard favoring state banking. It is to treat the entire banking sector as a public utility function only. This brings the MMT and FF principles for fiscal policy reform into prominence by having the rest of the necessary reform agenda. Reiteration, a major part of the problem is the banking culture itself. Shifting that sector primarily toward functioning as a regulated, public utility. Eliminating the fractional reserve franchise is another line on a reform agenda. Re-establishing the debt free supply of currency is another agenda line. Countercyclical intervention to create jobs is another slice of functional finance fiscal policies. Repairing, building, and expanding public infrastructure is another entry.
Tadit
http://ampedstatus.org/michael-hudson-on-occupywallstreet-wall-street-is-a-c...
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