A Prediction, and How to Prepare for the Next One

 How to Prepare for the NEXT Financial & Economic Crash A Concise Pocket Guide by Scott Haley | NOOK Book (eBook) | Barnes & Noble® (barnesandnoble.com)

I've been blogging for fourteen years.  Almost all of that time, the blogs have had zero ads.  Of my three blogs, this is the only one in which I'm posting new material.  I've decided that, once in a blue moon, I'll post one of my ads on Ecological Liberalism.  Am doing it because the writings for sale are, & will be in the future, related to the subjects I cover here.  Plus, I could use a few bucks.  😊  The first one is at the link above.

Our current economic woes are not due only to the effects of covid-19.  In the booklet (or long pamphlet) above, I delve into a bit of monetary & economic history which shows why there's a high probability of a severe Crash - over & above the covid Crash.  And it's coming relatively soon.  Then I detail specific steps every household can take to minimize the impact on you & yours.

While I'm pleased with the writing in "How to Prepare...", I must issue the following mea culpa.  Because I'm essentially a No-Tech person, and time constraints seem to be always pressing, I did not take the time to figure out how to correct the formatting errors which happened during the conversion (by a company that charged nothing for the service) from my text file to an eBook file.  As a result, there are page-numbering and other minor errors - such as splitting a page into two pages when that was unnecessary.  Despite the errors, the text is completely readable.  Nevertheless, in the interest of transparency, I felt any potential buyers should be aware of the flaws.

Thanks in advance for any interest and support regarding the piece.  I'm currently working on a full-length (but short) book - perhaps about 100 pages - with the tentative title, Notes on the Socio-Eco-Econ-Ethical Crisis, the Problems & the Solutions.  By the time it's finished, I should have the conversion/formatting problem figured out.

Be Well

From Transnational Institute: Commentary on Public Banks and "Green" Funding

 https://eprints.soas.ac.uk/24844/1/How%20Public%20Banks%20Can%20Help%20Finance%20a%20Green%20and%20Just%20Energy%20Transformation_Marois_TNI_2017.pdf

As examples, two banks are discussed:  Germany's KfW; and Costa Rica's BPDC.  The report is both interesting and informative; it covers the good side of the issue and the shortcomings.  At least read the "Conclusion...", starting on page 12.

Green projects, like everything else, have to be funded.  Public banks should be involved because, in general, they're more accountable than the private banks.  Plus, public banks are much more democratic, and again in general, more concerned with the public good.

..............................

Not only my opinion.  Be Well

Two Reasons Why Banks Should be Public Utilities, Not Private Businesses

 https://www.sciencedirect.com/science/article/pii/S1057521914001070

Those of us who for years have maintained that this happens have been looked upon as "strange".    Well,  here's empirical evidence... as incredible as this may seem, it's the 1st scientific study of the issue.  Keep in mind - we're not talking about a Central Bank here; rather, it's individual private banks that do this.

At least read the Abstract at the link above... it's short.

Wouldn't you love to collect interest payments on something you created out of "thin air"? 

This is one reason why banks should be publicly owned - public utilities - not private institutions... better accountability if publicly owned.

 ...................

The other reason why banks should be public utilities is as follows.

Technically and legally, when you make a bank "deposit" into your "account", what you're really doing is loaning the bank some of your money.  The bank takes on a "debt obligation", and the money deposited essentially becomes theirs.  The bank owes you money, but not that specific money.  

https://www.youtube.com/watch?v=EC0G7pY4wRE

Plus, thanks to a policy of the G20 Financial Stability Board, thirty mega banks can convert the loans made to them by "depositors" into equity shares in the bank in the case of a financial crisis.  That's true even if the bank is failing during a crisis.

In the USA, some people think - so what?  Who cares?  Our money in banks is protected by FDIC funds, right?  Yes, but here's the catch:  the FDIC fund total varies, but is in the billions (much less than one trillion); the total amount of "deposits" in U.S. banks also varies, but usually is close to $15 trillion.  Do the math.

........................

Banks, especially mega banks, are a big cause of gross inequality in this country.  We need public banks, and a banking model similar to the one in Germany... an emphasis on small, local banks.  Germany probably has the best banking system in the world, and the USA most likely has the worst.

.......................

Not only my opinion.  Be Well