Pope Francis rips capitalism and trickle-down economics to shreds in new policy statement

oxford
reply to post by sad_eyed_lady

 

Love it, It is great to see him kicking ass in the world!

Personally hope he speaks up more, once the darker stuff is highlighted, its hard to hide from it, which we tend to do as a species, so he is providing great opportunities for growth to all of us

Greed is probably the biggest problem in the world.

Definitely warming to him.

Since you said you would like to hear him speak up:

Pope Francis -Brainy Quotes

reply to post by williamjpellas


I can tell you a few things that will make the system far more fair and equitable, and are quite simple.

1. Make interest of deposit same for all depositors, irrespective of amount; and make interest rate on borrowings same for all borrowers, irrespective of the amount.

2. Create a minimum hourly wage worldwide, and enforce it. Huge populations in Asia and Africa are still working slave wages. Why $7.25 an hour is slave wage in USA, while US retail chains pay less than $1 for garments stitched in Bangladesh. And remember that $1 does not end up in worker's pocket. Worker will be lucky to get half of that. And do not assume food, housing and medicare come for free in Bangladesh. If $7.25 is slave wage in USA, work out how good is $0.5.

3. Stop options trading on the stock exchange. Futures are enough to take care of risk.

4. Stop lending money to stock market participants. Let all players pay full margin irrespective of size.

5. Make it mandatory for banks to stop speculating on the markets, and live by lending money to the real economy.

I can list more but the above few points will improve things by very large measure. The whole idea is to remove manipulation and to focus on real economy.