On this week's show, Prof. Richard D. Wolff presents updates on dueling health bills, cutting minimum wages, Pope on labor unions, Seattle taxes the rich. On the second half of the show, major discussions of G-20 "leaders," Detroit's "revival," beer company goes to worker ownership and directorship.
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On banking…
1. Public banks are corrupt, private banks are efficient and trustworthy.
2. Public banks have fake money, private banks have real money.
3. Public banks lack capital, private banks fund infrastructure.
4. Public bank account-holders cannot access ATMs.
5. Public banks account-holders do not qualify for FDIC insurance.
On inflation…
6. Inflation comes from raising wages too much.
7. Inflation comes from people having too much money.
8. Private banks never cause inflation, governments do.