Wednesday, February 10, 2016

WHAT BERNIE KNOWS ABOUT OUR ECONOMY

Let's start with saying that there are a large number of "economists" that agree with Bernie's views of the American economy; why it remains severely damaged and is rigged to protect only the "millionaires and billionaires" that broke it.



Financial experts, academics, and economists from across the nation are officially endorsing Bernie Sanders’ proposal to break up big banks and bring justice to Wall Street.

In a speech earlier this month in the heart of New York City’s financial district, Sanders outlined his plan to reform Wall Street that included, among other things, passing a new law similar to the Glass-Steagall bill of the 1930s that would separate commercial banking from investment banking — effectively breaking up the biggest Wall Street banks into smaller institutions. Sanders also pledged to take action to cap ATM fees at $2 per use, make usurious interest fees illegal, levy a sales tax on all financial transactions on Wall Street to discourage speculative trading, and bring criminal charges against the banking executives responsible for the 2008 financial crisis. Here’s video of the full speech:



Among the 170 economists and professors backing Sanders’ plan are former U.S. Secretary of Labor Robert Reich, Dean Baker of the Center for Economic and Policy Research, professor James K. Galbraith of the University of Texas, and John Miller of Wheaton College. Other experts listed on the sign-on letter teach at top universities like Harvard, Cornell, and Cambridge (UK). Also included is a former member of U.S. Congress, a former researcher for the Federal Reserve Board, and even a former associate at Goldman Sachs, as well as numerous financial advisors and wealth management experts.