Broke: What Every American Business Must Do to Restore Our by John B. Mumford

By John B. Mumford

The place within the heck are the "generous presents" the general public is accused of balloting for? most folks are operating tougher, and longer hours, for reduce actual wages. There could have been beneficiant presents to banks and medical health insurance businesses, yet I certain do not see them for the typical Joe. One percentage of the folks personal ninety-five percentage of the wealth, and primarily run Congress. they've got gotten the beneficiant presents, yet please do not say the shrinking center type has gotten something yet a kick within the rear.

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Extra info for Broke: What Every American Business Must Do to Restore Our Financial Stability and Protect Our Future

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Moreover, only a few have succeeded in reversing the trends that ultimately caused their collapse. America has not reversed entropy. So we must ask ourselves: Do we love ourselves more than we love our children? Down a Dark Road 9 Is There Hope? This is a book of hope. It is a hope rooted in the reemergence of our longstanding, individual passion for reality, for progress, and for solutions and in our rejection of self-serving values. It will require a decade of sacrifice and action. But we must change course.

We borrow, send out grants, and then borrow again to repair storm damage. How should business remedy this? Inflation Inflation has reached 10 percent per year, excluding food and fuel, and it is silently cutting the spending value of savings accounts and pension funds. Inflation is only the friend of borrowers, and it is the enemy The Dilemma—Is America Off Course? 15 of lenders, so the nation inflates away its debt, while it borrows to pay current bills. How should business respond? Liquidity The money supply has grown so dramatically in the past five decades that the dollar is worth only a fraction of its 1957 value.

And what should business do to resolve the issue—not to mention the debts of the nation as a whole? Derivatives The market for derivatives—hedges against certain types of financial risks—has grown worldwide at a high rate. S. economy, and hundreds of times the total capitalization of the banks with derivatives on their books. Again, Ross wonders, what should business be doing? S. population now lives within 50 miles of the nation’s coasts—and therefore is more vulnerable to natural disasters. Many cities are on earthquake faults, while others sit astride pipelines carrying oil and natural gas.

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