Can you imagine participating in a protest outside the White House and forcing the entire U.S. government to resign? Can you imagine a group of randomly chosen private citizens rewriting the U.S. constitution to include measures banning corporate fraud? It seems incomprehensible in the U.S., but Icelanders did just that. Icelanders forced their entire government […]
By KERRY PICKET- A leaked document from the Department of Homeland Security’s Office of Intelligence and Analysis predicts increased “anti-government violence over the next year.” The document says the inspiration for violence is Cliven Bundy’s...
What the post-industrial economy demands, in essence, is that American workers develop some variation of Battered Woman Syndrome – the series of physiological symptoms displayed by women in abusive relationships. When the company cuts benefits, downsizes, and makes everyone work more for less, the desired response is more sacrifice, unending gratitude, and beaming smiles. Just as battered and abused women sometimes remain in abusive relationships and vigorously defend those who mistreat them, some people react as the economy desires. These are the folks who lead the anti-union campaigns, fawningly suck up to the hierarchy until (and occasionally after) the moment at which they are declared redundant, warn against “troublemakers” who might upset this sweet fuckin’ deal we have going, and steer hard right on economic issues because the rich are our betters, merely getting what they rightly deserve.
In recent decades, dozens of sovereign nations have fallen into ever-deepening trouble by becoming indebted with the “private megabank over-world” for amounts far, far in excess of what they can ever pay back.
What is money velocity? It is the frequency one dollar is spent to buy goods and services per unit of time.
As calculated by the St. Louis Fed using the St. Louis Adjusted Monetary Base, money in the United States is exchanging hands at the lowest rate in history.
Not even since immediately following the Great Depression has money been exchanged so infrequently for goods and services.
Money velocity peaked in 1981, then crashed in 2007, with no end currently in sight. We have a consumer economy and the vast majority of Americans are no longer consuming.
Unconditional Basic Income (UBI) would increase currency velocity by recirculating money through the economy, from top (from those with lower propensities to consume) to bottom (to those with higher propensities to consume), effectively rising back to the top to be circulated again.