Public sector banks, rare in the U.S., are common elsewhere. Studies show that they are more profitable, less corrupt and more accountable overall than private banks.
As automation increasingly makes jobs obsolete, the policy of guaranteeing every citizen a basic income is gaining support around the world.
There is no way the U.S. will ever pay back a $20 trillion federal debt. Maybe the government should sell some of it to our central bank.
Higher interest rates would triple the interest on the federal debt by 2026, would hurt workers and young voters and could bankrupt more than 20 percent of U.S. corporations.
While American politicians debate how to finance needed fixes and which fixes to implement, the Chinese have funded massive projects across their country.
Like most states, New Jersey suffers from serious budget problems, limiting its ability to make needed improvements A public bank could change this Like most states, New Jersey suffers from serious budget problems, limiting its ability to make needed improvements.
The problem for policymakers is that they have been trying to fund an inefficient and overpriced medical system with scarce taxpayer funds without capping costs.
Americans could save $1 trillion over 10 years by financing infrastructure through publicly owned banks like the one that has long been operating in North Dakota.
The Italian banking crisis that could take down the eurozone has been called “a bigger risk than Brexit." Handwringing officials say there is “no magic bullet,” but a British professor, Richard Werner, says remedies are just being ignored.
Creating jobs requires an injection of new money into the American economy. Borrowing from the bond markets or off the balance sheet in public/private partnerships won’t do it. So if Congress won’t issue money directly, it should borrow from banks, which create money out of thin air.