CA Governor Newsom admits economic bankruptcy,..

By Carl Herman : carlherman – excerpt

threatens First Responders as ‘first laid-off’ but LIES in omission of two proven solutions for full funding championed by leading Americans for 200+ years: monetary reform + public banking…

Colleagues and I presenting this data have written and presented at professional international economic conferences and have zero challenges to this information, such as this 2015 paper published by The Claremont Colleges for their ~2,000 person international economics conference, and this 2012 paper.

I also assert that I’ve worked with ~2,000 Advanced Placement Economics teachers through their discussion board since 2009, and no colleague has ever challenged the factual accuracy of what I am about to explain and document.

These two reforms are easy to learn:

  • Monetary reform simply means being able to create money as a positive number to directly pay for public goods and services. What we have only creates “money” as its Orwellian-opposite, debt, which explains how and why total debt increases exponentially. Creating money as a positive number has triple and game-changing benefits: upgraded infrastructure, employment, and falling prices to the extent infrastructure investment returns more economic output than cost (this usually happens).
  • Public banking is creating in-house and at-cost credit instead of selling debt securities to the public. In-house and at-cost credit reduces total nominal debt costs by ~50% compared with paying Wall Street “debt experts” and interest. The one state with a public bank is North Dakota: also the one and only state with increasing budget surpluses from their paying half of what all other 49 states pay for debt… (more)

I’m not sure there is a panacea to the economic crisis, but, some very smart people have been working on this solution for a long time, and they deserve to be heard and taken seriously. Monetary reform of some kind may be a good start to cleaning up a recurring problem that has brought on massive income inequality at the expense of millions.

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