Tag Archives: finance

The New Housing Crisis: Renters Are Being Ripped Off

The New Housing Crisis: Renters Are Being Ripped Off
Think of the people who inhabit the houses owned by these under-examined corporations. Mindy Culpepper lived on the outskirts of Atlanta in a home inundated with the stench of raw sewage. She had her husband paid $1,225 a month to live in the three-bedroom house even as their landlord, Colony American Homes, ignored their complaints. The Culpeppers have had to live with the stench from the first day they moved in and to date, they see zero ... Read more

New Report On How Communities Are Building Wealth

New Report On How Communities Are Building Wealth
Policies for Community Wealth Building: Leveraging State and Local Resources By The Democracy Collaborative The Democracy Collaborative For more than a decade, The Democracy Collaborative has been tracking state and local policies that provide a supporting environment for the expansion of community wealth building models and innovations. As interest grows across the country, they have assembled some of the most important existing and ... Read more

Hope and Ka-ching

Hope and Ka-ching
Finance, as Martin sees it, is the key to getting significant control of wealth into workers’ hands. “There is this myth of capitalism that says that the 1 percent invest productively, but the fact is, we don’t need them,” Martin explains. “They said, ‘If you don’t bail us out, there won’t be jobs.’ But their aim isn’t to make jobs; it’s to make money for themselves. Finance, as it is currently set up, is parasitic. It’s extractive. But what ... Read more

New Cooperative Refinances Student Debt with Community Funds

New Cooperative Refinances Student Debt with Community Funds
Over the past two decades, the amount of money a college student must borrow to pay for their education has doubled. The graduates of 2014 now sit at the top of the class in student debt. Tuition fees have risen dramatically as household incomes have stagnated, at best, causing some 70 percent of students to fund their higher educations through loans. During the recession, the student debt issue really picked up steam as these kids ... Read more

How capital captured politics

How capital captured politics
In June, WikiLeaks made public the secret draft text of the agreement. It covers 50 countries and most of the world's trade in services. It sets rules that would assist the expansion of financial multinationals into other nations by preventing regulatory barriers. It prohibits more regulation of financial services, despite the fact that the 2007-08 financial meltdown is generally perceived as resulting from a lack of regulation. Furthermore, ... Read more

Seizing the Moment: Catalyzing Big Growth for Worker Co-ops

Seizing the Moment: Catalyzing Big Growth for Worker Co-ops
Given the current groundswell of interest in cooperatives, organizers of worker cooperatives have a window of opportunity in the United States to propel our sector to the next level. Our national and regional organizations are increasing in their strength and dynamism. In several regions, diverse stakeholders are coming together to explore a variety of pathways to worker ownership, from small and medium-scale cooperative start-ups to ... Read more

Why We Need a New Kind of Open Cooperatives for the P2P Age

Why We Need a New Kind of Open Cooperatives for the P2P Age
The cooperative movement and cooperative enterprises are in the midst of a revival, even as some of their long-standing entities are failing. This revival is part of an ebb and flow of cooperativism, that is strongly linked to the ebb and flow of the mainstream capitalist economy. After systemic crisis such as the one in 2008, many people look at alternatives. Yet, we can’t simply look at the older models and revive them, we have to take ... Read more

Infrastructure Sticker Shock

Infrastructure Sticker Shock
A general rule for government bonds is that they double the cost of projects, once interest has been paid. The San Francisco Bay Bridge earthquake retrofit was originally slated to cost $6.3 billion, but that was just for salaries and physical materials. With interest and fees, the cost to taxpayers and toll-payers will be over $12 billion. The bullet train from San Francisco to Los Angeles, another pet project of Jerry Brown and his ... Read more

Toward the Total Paralysis of an Unequal Society

Toward the Total Paralysis of an Unequal Society
The severing of our society into a plutocracy and a peasantry is so far along that statistics almost cease to have meaning. But the facts have to be told, to help explain the sickening sense that we're becoming a nation without a middle class, paralyzed by the inequality deniers and excuse makers who refuse to admit there's something wrong with their free-market capitalist system. The extremes are becoming almost intolerable. Read more

A General Without an Army

A General Without an Army
The irony is that for all Piketty’s reasonableness and respectableness, it is only the radical left and the labor movement that will push his program, if anyone is going to. However much his book has changed the conversation on inequality within economics and in the media — and it is really too soon to tell whether this is game-changer or flash-in-the-pan — his technocratic solutions are never going to come from the treasuries and central ... Read more