No private, unelected entity should have the power over the economy that BlackRock has, without a legally enforceable fiduciary duty to wield it in the public interest.
As we approach the ten year anniversary of the great recession, leading economists talk about where the next crisis might come from. Workers bear the brunt of crises, but they also could be the cause that provokes the system to falter.
Written one week before the current Wall Street tumble, economist Nomi Prins writes: Watch out. Even in the seemingly best of times, neglecting Wall Street is a dangerous idea. With a rag-tag Trumpian crew of ex-bankers and Goldman Sachs alumni as the only watchdogs in town, it’s time to focus, because one thing is clear: Donald Trump’s economic team is in the process of making the financial system combustible again.
Anamaria Lopez
Institute for New Economic Thinking
The path of austerity could spread economic pain and social woes far beyond the Caribbean island, says public debt expert Martin Guzman. 1,000 miles off the coast of Florida, a small Caribbean island of 3.4 million American citizens is facing its worst economic crisis since coming under U.S. rule in 1898. In the short term, austerity aggravates the recession and reduces opportunities.
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