Photo Caption: David Jette, Dr. Michael Hudson.
May 16, 2019.
David Jette, legislative director of Public Bank LA and California Public Banking Alliance, has been working intensely to bring public banking to California and he shares his invaluable insights on It’s Our Money. World-renown economist Dr Michael Hudson is the next illustrious guest on the podcast and he explains why forgiving debt is essential to a healthy economy. Co-host Walt McRee introduces the latest two episodes:
Getting to Yes
What’s it like to start a public bank in 2019, one hundred years after the last one? What steps and impediments are discovered along the way and what succeeds? Today’s guest, David Jette, reports on the substantial progress being made in CA after several years of studying and initiatives for creating public banks. Current proposed state legislation seeks to transform an existing state agency for infrastructure and another seeks to open the regulatory path for municipal public banks – both represent the sort of challenges other proponents face around the country. And for karmic and comic relief, we get a visit from Swami Beyondanonda who reviews our civic prospects with inscrutable common sense.
And Forgive Them Their Debts
The backdrop of debt is so ubiquitous that we seldom stop to think about what devastation it causes in our personal and public lives. Today’s guest, world-renown economist Dr. Michael Hudson, knows. Debt’s role in destroying economies and nations dates back to ancient times when rulers understood that public debt needed to be periodically forgiven in order to maintain order and economic stability. But today conditions have actually gotten worse as the uber-powerful financial elite the world over prey on the worker economy for the sake of personal profit, infiltrating government decision-making that keeps them and their profits in control. It’s a sobering assessment not to be ignored and a wake-up call for citizen education and action.