{"id":389901,"date":"2018-12-20T18:40:29","date_gmt":"2018-12-20T17:40:29","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/why-everything-that-needs-to-be-fixed\/"},"modified":"2018-12-20T18:40:29","modified_gmt":"2018-12-20T17:40:29","slug":"why-everything-that-needs-to-be-fixed","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/why-everything-that-needs-to-be-fixed\/","title":{"rendered":"Why Everything That Needs To Be Fixed"},"content":{"rendered":"
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Just in case you missed what\u2019s going on in France: the status quo in Europe is doomed.<\/i><\/p>\n

The status quo has a simple fix for every crisis and systemic problem:<\/b><\/p>\n

1. create currency out of thin air<\/p>\n

2. give it to super-wealthy banks, financiers and corporations to boost their wealth and income.<\/p>\n

One way these entities increase their wealth and income is to lend this\u00a0nearly free money<\/i>\u00a0to commoners at much higher rates of interest.<\/b>\u00a0I borrow from central banks at 1% and lend it to you at 4.5%, 7% or even 19% or more. What\u2019s not to like?
\n\"\"<\/a><\/span><\/span>
\nMoney and Work Unchained<\/a><\/span><\/span>
\nCharles Hugh Smith<\/span>
\nBest Price: <\/span>$14.48<\/span><\/span>
\nBuy New <\/span>$14.54<\/span><\/span>
\n(as of 09:15 EST – Details<\/span>)<\/span><\/span>
\n<\/a><\/span>
\n<\/span><\/p>\n

If a bank is insolvent, it can borrow money at 1% from central banks.<\/b>\u00a0If Joe Blow is insolvent, the only loan he can get is at 23%, if he can get any credit at all.<\/p>\n

3. China has a variant fix for every financial crisis: build tens of millions of empty flats only the wealthy can afford<\/b>\u00a0as second or third \u201cinvestment\u201d flats. If the empty flats start dropping in price, government entities start secretly buying flats to support the market.<\/p>\n

4. Empty malls, bridges to nowhere and ghost cities are also a standard-issue fix in China.<\/b>\u00a0Built it and they will come, until they don\u2019t. But who cares, the developers and local governments (i.e. corrupt officials) already pocketed the dough.<\/p>\n

You see the problem: making rich people richer doesn\u2019t actually fix what\u2019s broken, it only makes the problems worse.<\/b>\u00a0So why can\u2019t we fix what\u2019s broken?<\/p>\n

It\u2019s a question that deserves an answer, and the answer has six parts:<\/b><\/p>\n

1. Any meaningful systemic reform threatens an entrenched, self-serving interest\/elite which has a tremendous incentive to squash, co-opt or water down any reform that threatens their…<\/p>\n<\/div>\n

Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Just in case you missed what\u2019s going on in France: the status quo in Europe is doomed. The status quo has a simple fix for every crisis and systemic problem: 1. create currency out of thin air 2. give it to super-wealthy banks, financiers and corporations to boost their wealth and income. One way these […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-389901","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/389901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=389901"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/389901\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=389901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=389901"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=389901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}