• zapster commented on the blog post Casinos Fail Old Industrial Towns

    2014-12-02 10:48:46View | Delete

    You know, so much of our economic difficulties are because outside investors bleed everything they touch into offshore accounts.
    Their profits are never returned or circulated. They’re monopolistic, anti-competitive, and destructive of local economies, which pretty much destroys the argument for “private competition.”
    It seems to me that states would do well to just start their own businesses, hire residents, and purchase from state-resident suppliers, and solve much of the problem. Start with a North-Dakota-like state bank, and branch into other vital industries where hedge-fund competition is a problem. Hospitals and housing spring to mind, as well as groceries, big-box stores, chains of all kinds. Why shouldn’t states use state-owned businesses to set a floor on race-to-the-bottom nonsense, provide employers-of-last-resort, etc.?

  • zapster commented on the diary post Is the Cop Who Murdered Eric Garner About to Be No-Billed? by wendydavis.

    2014-12-02 10:15:20View | Delete

    Livestreamer Rebelution_z also reported that a witness saw a tear gas canister land on top of the McDonald’s and start that fire. Tenuous, but then I watched them firing the canisters over the tops of the buildings in the streams I was following. It would only take one or two canister fires to set off [...]

  • One inflation angle that I’ve wondered about concerns the amount of money currently tied up in derivatives and in corporate accounts that they simply can’t seem to find a use for. Is there any scenario where this huge slush fund would suddenly end up flooding into the real economy? Is there enough out there to become inflationary, or will the economy simply expand to make use of it, should that happen?

  • With automation throwing a wrench in the works, I think the idea will come to life again, simply because robots can accumulate more money than they can spend, so to speak ;)

  • What should be done about the enormous overhang of private debt? Obviously getting everyone back to work to be able to pay it off makes great sense, but I’ve read that private debt globally now exceeds any hope of enough production to ever pay it off by something like >50x. Obviously it won’t ever be paid, and much of it seems to be the result of layers and layers of derivative interest debt–which never was related to productivity anyway.