Thursday, April 29, 2010
The ONLY State With a Growing Economy During the Last Year Has Its Own Public Bank. Any Questions?
Forget complicated arguments about the benefits of public banking.
Instead, look at this chart from Business Insider:
North Dakota is the only state with its own public bank.49 out of 50 U.S. states are still showing less economic activity than a year ago, based on February 2010 coincident economic indicators from the Federal Reserve of Philadelphia. The chart below is organized from top to bottom, from the most growth in economic activity to the largest declines in economic activity.
***
North Dakota (ND) is the only state to currently have a higher level of economic activity year over year. Its February 2010 economic activity was 1.1% higher than February 2009, as shown by the green dot in the chart below.
***Net-net what this tells us is that 49 out of 50 state economies are still underwater on a one year basis, and 28 out of 50 are even still falling vs. November.
Any questions?
13 comments:
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Uh---Would the oil and gas boom times have anything to do with their growth? The state bank does help though, and others probably should follow that example.
ReplyDeleteBob Spencer
Very interesting. The other significant variable is ND is also experiencing the benefit of significant oil exploration, and they are probably unique in that regard as well. We suspect it is that economic activity that is telling the tale of ND.
ReplyDeleteWhat the hell happened in WV!?
ReplyDeleteThe time for change has come....oh wait...you already voted for that last election. silly me.
ReplyDeleteOh, so another socialist bank is the answer, my bad. And here I thought paper money couldn't fix real economic problems...
ReplyDeleteA state bank run by the people of a state, for the people of a state, using the money that already exists as assets of that state with all profits from the bank activities going right back into the state's coffers to fund, guess what, more economic growth in that state.
ReplyDeleteIt's a way out from under the thumb of the banksters. Now if we only had enough politicians with big brass ones to do it.
I think you are missing the point. Charging interest on money printed out of thin air is ludicrous. You can attach all these silly socialist, capitalist, communist labels. But honestly, why wouldn't a state print money it needs and not have to pay amortized compounded interest to an outside source? Last time I checked $5.5 trillion dollars is owed to the Fed aka Wall Street banks from. ND may have other things going for it. But the fact that they are autonomous from the Fed cannot be summarily dissmissed.
ReplyDeleteAnonymous said...
Oh, so another socialist bank is the answer, my bad. And here I thought paper money couldn't fix real economic problems...
April 30, 2010 10:47 AM
Only tools and sheep use socialism as a bad word.
ReplyDeleteCapitalism is imperialistic in nature, while socialism is not.
Infact, the major achievements of capitalism during the last 200 years are:
Huge inequality.
Every product has planned obsolecence, for bigger profits.
Envrionmental, ecological and biological damage.
More disease than ever before due to a crappy diet and tons of pollutants, all for greater profits.
The list goes on and on. True, socialism may have more "disadvantages" than capitalism, but socialism has never been tried and never will until we arrive at a point where all product manufactoring is pretty much 100% automated. Until then, syndicalism, AKA worker controlled businesses but otherwise identical to capitalism, is ideal.
Not sure how well the oil exploration arguments hold here because clearly WV is in the worst shape, yet that's where most of our coal comes from. Hmmmm. I wonder who's pocketing all that coal profit?
ReplyDeleteGOVERNMENTS are imperialistic in nature, it has nothing to do with the econimic system that they employ...
ReplyDeleteThe purpose of state banks is to curry favor with banksters. There is no magic money machine that can create prosperity.
Tuesday, 04 May, 2010 AD.
ReplyDeleteDear Sir,
Your report is more than interesting! Could you please provide the 'real' names of the owners of the alleged public Bank of North Dakota?
Kind Regards,
Phillip A. Jones
England/UK
"Bob Spencer said...
ReplyDeleteUh---Would the oil and gas boom times have anything to do with their growth? The state bank does help though, and others probably should follow that example.
Bob Spencer "
Reply: Duh--- other states underwater are experiencing oil and gas boom.
First response is a paid Mossad Zionist banker shill.
I wonder why a lot of Americans think government is bad and big government is worse. The people of the US vote in their politicians (who ARE the government) so maybe the politicians chosen to run may be the problem that leads to bad government. From what I can see, in order to run in the US, a politician has to be a millionaire at least. Can the guy next door afford to run in the political system in the US? Just asking.
ReplyDelete