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Stephen Boyle

Occupy Movement Informationbase - 0 views

I've setup a Wordpress blog that I'd like to receive a feed from this Diigo group into. Contact me at media@occupy-detroit.us to enable this. http://occupymovementinfo.wordpress.com

bookmark sharing blogging

started by Stephen Boyle on 09 Jan 12 no follow-up yet
Bakari Chavanu

Four Things Occupy Wall Street Should Know About the Federal Reserve | | AlterNet - 0 views

www.alternet.org/...know_about_the_federal_reserve

shared by Bakari Chavanu on 24 Oct 11 - No Cached
  • We left the gold standard in the 1930s because it greatly exacerbated the Great Depression.
  • The gold supply grows by 2 percent every year, while the global economy grows at four percent, leading to deflation and constrained economic progress.
  • It can be spurred by government spending to stimulate an economy that has already reached its productive capacity. But right now America is suffering from the opposite problem. The problem isn’t inflation, it’s unemployment, crushing debt and stagnant growth: issues that can be assuaged through monetary stimulus. 
  • ...4 more annotations...
  • In fact, one of the easiest ways to achieve the Occupy movement’s goals of lower unemployment and household debt would be to use monetary stimulus to mildly increase this measure inflation.  
  • We should talk about deflating the debt. If we had wage and price inflation of four percent every year for two or three years that reduces the debt burden by eight, 10, or 12 percent relative to their wages.” 
  • American corporations are currently sitting on massive cash reserves. If the Fed announced a higher inflation target those horded assets would soon be worth less, thus incentivizing spending.
  • Look at the “We Are the 99 Percent” Tumblr. Almost every entry names debt—from student loans, credit cards, medical, or housing—as a principal concern. Household debt is currently 90 percent of GDP.
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