Primary elections originated in the American progressive movement and were intended to take the power of candidate nomination away from party leaders and deliver it to the people. California’s Top Two Primary takes power away from third parties representing the 99% and delivers it to the 1%.
Voters have increasingly become disillusioned with the Democratic and Republican Parties. According to a poll reported by Rasmussen in April, more than half the country believes that neither of the top two parties represents the American people. Continue reading
Filed under: Ellen Brown Articles/Commentary | Tagged: California primary, public banking | 36 Comments »
WEB OF DEBT BLOG 
The Looming Foreclosure Crisis: As the Fed Runs Out of Bullets, Local Governments Are Stepping In
Mortgage debt overhang from the housing bust has meant lack of middle-class spending power and consumer demand, preventing the economy from growing. The problem might be fixed by a new approach from the Fed. But if the Fed won’t act, counties will, as seen in the latest developments on eminent domain and litigation over MERS.
Former Assistant Treasury Secretary Paul Craig Roberts wrote on June 25th that real US GDP growth for the first quarter of 2014 was a negative 2.9%, off by 5.5% from the positive 2.6% predicted by economists. If the second quarter also shows a decline, the US will officially be in recession. That means not only fiscal policy (government deficit spending) but monetary policy (unprecedented quantitative easing) will have failed. The Federal Reserve is out of bullets.
Or is it? Perhaps it is just aiming at the wrong target. Continue reading →
Filed under: Ellen Brown Articles/Commentary | Tagged: eminent domain, HOLC, MERS, public banking, quantitative easing, underwater mortgage crisis | 12 Comments »