From "US can fix budget woes," by Ellen Brown

Ellen Brown, as with many of the rest of us (Monetary Reformers), is becoming better and better at expressing Modern-Money Mechanics and some of the simple and straightforward things we can do, and should do, to correct many of the current problems with the economic system. She is good about supplying quotes from others to help drive home much of that thinking. Here's a prime example from her most recent article, "US can fix budget woes,":

Iceland's President Olafur Grimson was asked at the Davos conference in January 2013 why his country had survived where Europe had failed. He replied:

I think it surprises a lot of people that a year ago we were accepted by the world as a failed financial system, but now we are back on recovery with economic growth and very little unemployment, and I think the primary reason is that... we didn't follow the traditional prevailing orthodoxies of the Western world in the last 30 years. We introduced currency controls; we let the banks fail; we provided support for the poor; we didn't introduce austerity measures of the scale you are seeing here in Europe. And the end result four years later is that Iceland is enjoying progress and recovery very different from the other countries that suffered from the financial crisis.

via Asia Times Online :: Global Economy.

See also: Lecture Concluding-Statement: "Debt, Money and Mephistopheles: How Do We Get Out Of This Mess?" by Adair Turner. Cass Business School. 6th February 2013

Tom Usher

About Tom Usher

Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.