North Dakota has had the lowest unemployment in the country (or was tied for the lowest unemployment rate in the country) every single month since July 2008. It also has the fastest job growth rate and have the distinction of being the only state to be in continuous budget surplus since the banking crisis of 2008. The state deposits its tax revenues in the Bank, which in turn ensures that a high portion of state funds are invested in the state economy. In addition, the Bank of ND is able to remit a portion of its earnings back to the state treasury (with 19% return on equity in 2010). - Source [ Ellen Brown, North Dakota's Economic Miracle, Yes Magazine]
In contrast California is the largest state economy in the nation, yet without a state-owned bank, is unable to steer hundreds of billions of dollars in state revenues into productive investment within the state. Here is a funny video on What if we had a public bank? See what's happening in your state.
Armed with the groundbreaking research work of Stephen Zarlenga, founder of American Monetray Institute, Dennis Kucinich introduces Historic National Employment and Economic Defense Act to end Fractional Reserve Banking and Private Debt-based money (credit). Watch Part 3 First (pause to listen again around min 4 and 7). Important to note that Public Banking alone is not enough. It does not address the root of the problem, namely the Fractional Reserve System, but the NEED Act does. For example, in the United Kingdom, 75% of lending goes directly into fueling asset price bubbles such as housing, while only 25% is channeled to business and the productive sector. The banking sector is failing to fulfill its supposed role in a capitalist economy. [Source: Positive Money, UK]
America have had a long history of Public Banking starting before the American Revolution. From the perspective of money and banking American History looks very different, see youtube on the Real Tea Party. View articles on New Economy and how it is unfolding in YES magazine! Free Speech TV
In Buddhist philosophy, wholesome, mindful and skillful View without bias plays a key role in entering and walking the path of awakening and freedom for both the individual and society as a whole. Venerable Sariputta described, "A Nobel Disciple is one of right view, whose view is straight, who has perfect confidence in the Dhamma, and has arrived at this true Dhamma." My wiki take on Dharma is to cultivate the knowledge and practice of living principles that upholds the fabric of reality, natural phenomena and personality-gestalts of human beings in dynamic interdependence and harmony.