Author: rickpace1

An interesting interview with Joseph Stiglitz on the economic dangers of our current income inequality…I find the initial part more interesting than the Bain Capital conversation. But I completely agree that our current level of income inequality is because of manipulation and special privilege, not hard work and social justice creating wealth.

I also agree this special privilege economy will have a very bad ending if we do not create a more equitable and just government.

I’m getting more and more chatter on the street from folks who are unhappy with their investment options.

John Phipps, Illinois farmer/friend, recently posted ‘there aren’t many attractive (safe, rewarding, understandable) places to put cash these days’.

It appears that a broader segment of the American public – those folks with pensions and savings accounts – are seeing either minimal returns (less than 1%) or risking ‘investment black holes’ (abstract ‘what the heck is this really invested’ investment products).

Perhaps Mitt Romney’s business/personal life is also aiding the public awareness of how special privilege makes ‘making money on money’ a rich persons’ sport.

Anywho….it seems there is an opportunity in there! Can local communities structure and manage ‘knowable’ regional investments with low risks and sustainable returns? Can we also change investment and banking law to make community based investing legally practical?