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A thing I think he doesn't give enough attention to is the role the Fed DOES play. The Fed indirectly controls bank lending rate through a couple mechanisms. The first is whatever rules it has for declaring a bank solvent. They've eliminated reserve requirements but now it's something like a stress test or whatever. A bank can't keep lending
70 yrs after #SCOTUS delivered its landmark decision outlawing school segregation, #BrownVBoardOfEducation ranks as perhaps the court’s most venerated decision….
Most everything else related to the decision…is complex.
Nearly 7/10 Americans say more should be done to integrate schools…a figure that has steadily climbed from 30% in 1973….But a deeper look into the views of both Black & White people shows skepticism about the success of #Brown….
Because of #Brown, #school ofcls may no longer deliberately separate students by #race —but under more recent #SCOTUS orders, they aren’t allowed to deliberately mix them by race either. #Integration advocates today have stopped looking to the #federal courts for help & are pursuing #state lawsuits instead.…some #Black leaders have concluded that the answer is not integration…but more #money & #opportunity for high #poverty#schools….
#money -- some awesome #books about how fiat money system works … (fiat money is Govt-issued currency that isn’t backed by any #commodity such as #gold)
When the UK’s deputy foreign secretary has to admit that around 40% of all money laundered globally likely flows through London & the Crown Dependencies, you can bet that such an estimate will be on the low side.
There are many reasons that the UK's global reputation is increasingly tarnished & the work in financial services to hide & process criminal/illegal funds is contributing to that malaise.
So much for the value of financial services to the UK
OC The Web is Indeed Being Looted by Corporate Fat Cats
Ed Zitron posted another solid article on the state of the web that I think belongs here....
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