Move Your Money

So, you may have heard of the new video and movement, Move Your Money, encouraging the patrons of big banks to move their accounts to small community banks. The video is quite compelling, featuring clips from It’s a Wonderful Life, along with damning clips of modern bank malfeasance. The video is worth viewing, even if the argument doesn’t sway you.

The premise is simple: hit them where it counts, in the pocketbook. It’s a grassroots attempt to undermine the “Too Big To Fail” institutions who continue to be found, time and time again to be complicit in or responsible for economic travesties, big and small.

Senator Bernie Sanders has his own idea: Break ‘Em Up.

Of course, small town banks can engage in their own shenanigans. They also may not have the capacity or breadth of services for all customers. But we should be good consumers and move our money where it serves us best.

If I ever have any money, I want some interest from that money, and it sure would be nice if some of the money was in turn invested in my community. I certainly don’t want a slice of my hard earned money to pay for six-figure financial services lobbyists who are tightening the screws on ethically challenged Members of Congress.

I think I just might move my money.

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There are Worse Things to Leave Our Children than Debt

walkinginrainThe economic downturn, coupled with the changing of the guard in Washington, has led to increasing political polarization in economic views. America is more liberal than it has been for many years, and we’ve been voting that way. It is the belief of a majority of Americans that liberal economic policies are what our nation needs to survive. But there is far from a consensus about how we should go about recovering from this precipitous economic decline.

We are at a crossroads, where few would suggest that inaction is the most prudent course. Our children and subsequent generations are frequently dragged into this debate. Giving the appearance of the ultimate highest moral ground, conservatives argue that the worst thing we could possibly do in these times, is increase the Federal deficit.

On it’s face it is a compelling approach. No one wants to make things harder on the next generation. But are there things worse than debt that we could leave our children? Absolutely. Is the price of ongoing debt maintenance, at pennies on the dollar, really so significant that we should ignore the issues before us?  Should we endanger the health of our children, their future job prospects, or possibly even the survival of the human species, just to entertain a fantasy of fiscal responsibility?

Leaving our children and future generations with a burden of debt is a small price to pay compared with the what could result from political inaction or insufficient investment in the present. History has shown this to be true.

Worse than Debt:

Global Warming: Without dramatic changes in the types of fuels we use, our processes for producing electricity, and means of transportation, we will continue to increase the rate at which we are polluting the atmosphere with excess carbon dioxide and other greenhouse gases. An increase in debt may be necessary to create the infrastructure, incentives, and innovations required to make the technological improvements required worldwide to prevent rising ocean levels, drought, mass starvation, as well as uncertain climatic, biological, and agricultural changes.

Inadequate Education: The challenges we face today are pushing the limits of our science, technology, and ingenuity. Perhaps one of the most difficult aspects of responding to a changing world, is that in a democracy, the will to change must be the will of the people. But inadequate education leaves the electorate ill prepared for facing complex scientific, medical, or economic issues. In order to bring about enlightened policy, we need an enlightened electorate that has education and experiences to understand the reasons what changes and innovations are necessary.

We can reflect on how we might have dealt with current problems, if only we had been better educated in the past. Investments in education decades ago might have imporved the scientific knowledge that could have enabled swifter changes in energy policy to curtail global warming. Better knowledge of economics and finance might have enabled us to prevent the recent real estate collapse and derivatives improprieties. Better media awareness might have prevented the Bush administrations manipulation of the news and facts in the run up to the attack on Iraq. Better consumer knowledge might have made us less susceptible to manipulation by corporate advertising.

Undoubtedly, increasing our investment in education is the best national defense America could hope for, because it will prepare America for the uncertain challenges we will face in the years and decades to come.

Archaic Energy: Prior to the massive sequestration of Carbon Dioxide and production of Oxygen that was performed by plants in the Paleozoic, the surface of the Earth outside of the oceans was mostly uninhabitable by non-plants. Now humanity is attempting to reverse this process, by pumping up oil from the Carboniferous, burning it to release the CO2, and decreasing the habitability of the Earth’s surface. What a stupid way to power any kind of progress. Our number two energy option consists of smashing neutrons together to make highly radioactive juice that must be stored in vats FOREVER, with no permanent safe storage facility. There are other ways.

Insufficient Health Care: We have, in America, supposedly, the finest health care ‘system’ in the world. That is, if you own stock. Somehow, however, when something’s really wrong with you, you can choose to get treatment, and lose any and all assets you possess, or suffer. Health insurance is becoming a luxury item. Employer-based health care is dissolving. A system that is for-profit will always economize. In business, some things are acceptable losses. You or I might be one.

No Access to the Means of Production: A key aspect to America’s growth and development was the wholesale giveaway of America’s natural and economic resources to a privileged few. But the endowed wealthy have never had enough. Economic downturns have consistently resulted from mass redistribution from the many to the few. After all, if most people don’t have sufficient economic resources to expend on goods and services, the economy must slow while the wealthy stow the assets and collect capital gains, which result in minimal economic stimulus. Hard work and creativity are not always sufficient for balancing unbalanced systems of economic stratification. The real way to create a wealthy society is to enable wider access to the means of production, thereby enabling economic opportunities not just for those lucky enough to be from regal bloodlines, but for all Americans.

A Dangerous World: Foreign policy that alienates allies and creates enemies can only make the future more uncertain for our children. We cannot afford to make problems that they must solve. A compassionate and tolerant approach to world affairs that fosters peace and encourages cooperation will benefit the children of all nations.

Debt? A small price to pay.