By Ellen Brown (Guest Post)
Why aren’t banks lending to local businesses? The Fed’s decision to pay interest on $1.6 trillion in”excess” reserves is a chief suspect. Where did all the jobs go? Small and medium-sized businesses are the major source of new job creation, and they are not hiring. Startup businesses, which contribute a fifth of the nation’s new jobs, often can’t even get off the ground. Why? Read more »
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