Before you shed tears for the plight of elite bankers, let this statement sink in:
Cyprus’ banking sector must shrink. As did Ireland’s, the hard way. What is essential, as every Irishman and woman will tell you, is that the politicians do not load up the weaker citizen’s/taxpayers’ shoulders with enormous debts on behalf of bankers that refuse to wither.
Read more at https://www.nakedcapitalism.com/2013/03/yanis-varoufakis-while-waiting-for-cyprus-godot.html#dCKwchxGzzT2ljPx.99
That’s from Yanis Varoufakis, professor of economics at Athens University.
Read more →I agree with Republican Senator Corker that inflation is a danger in the future. But inflation doesn’t win the hearts and minds of most Americans right now. No one’s worried about it except economists and economics geeks.
The death of the community and regional bank, however, does bother people. As does the printing of money that goes straight into the 5 biggest banks in history … and stays there.
The US Government bailed out those 5 “too big to fail” banks in 2008 and it’s been propping them up with our money ever since.
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