While Private Banks Help Themselves, Public Banks Could Help Communities Short-term short-sighted thinking is apredictable survival strategy within the hostile environment of profit maximization. Private banks are the apex predators in this virtual economic reality; they feed upon the real economy, but unlike natural predators, they do not create balance, diversity, or healthy ecosystems. Their …
The profit maximization mentality of private banking inevitably leads to short-term short-sighted money-making schemes that inflate the money supply and drive all the negative externalities of economic inequality. A National Public Bank will provide a long-term vehicle to fund those needs essential to the health and general welfare of the U.S. population, as well as …
The current economics is oriented toward profit maximization. Profit maximization environments are noncooperative settings that communicate uncertainty and instability, and thus encourage and normalize a positive feedback loop of short-term reactive behaviors, most of which generate negative long-term consequences for people, as well as the communities and ecosystems they inhabit. Economic exchange in the United …
As of June 2023, 40% of all U.S. banking assets were in the hands of just three bank holding companies: JPMorgan Chase, Bank of America, and Citigroup. As of 2023, the ten largest United States banks own 70% of all U.S. bank assets, compared to 42% twenty years earlier.1 Private bank consolidation creates a cyclical …
