Read

User menu

Search form

This Is What Prosperity for Main Street – Not Wall Street – Looks Like

This Is What Prosperity for Main Street – Not Wall Street – Looks Like
Wed, 2/5/2014 - by Rudy Avizius

The key reason that communities are struggling is the huge burden of interest payments that are flowing to the big banks.

Think about this: if you buy a home for, say, $100,000, typically you will have paid $250,000 once the loan is paid off. This means the typical loan will incur $150,000 in interest charges.

The same concept applies when a community builds an infrastructure project such as a school, road, bridge, sewer or other project. That $1 million dollar school could end up costing taxpayers in the community $2.5 million after interest charges.

So taxpayers are paying more to the financiers of the project than to those who supplied the materials and actually committed the labor to build it. Are you OK with bankers acting as the middleman, sucking prosperity from our communities?

Any good business model dictates the efficiency of eliminating middlemen. If we look at cities like Detroit and Philadelphia, hundreds of millions of dollars in interest payments and fees are leaving the city and flowing into the coffers of Wall Street. This lost money impoverishes your community while Wall Street gets bigger and richer than ever.

Rudy Avizius is a former educator and school administrator. He is concerned that the current economic, social and environmental course we are on is not sustainable, and that the time for real change is running out.

Sign Up

Article Tabs

Cuadrilla Resources, U.K. fracking conflicts, fracking protests, fracking ban, Manchester fracking ban, carbon emissions, hydraulic fracturing

In a move that could have repercussions on the fracking industry nationwide, Manchester in northwest England has announced that it is effectively banning the practice.

Indian dams, Afghanistan water rights, Pakistan water rights, water wars, water crisis

As India finances a series of dams along the Kabul River, aiding its neighbor Afghanistan, Pakistan considers the move part of an Indian conspiracy against the increasingly water- and food-stressed nation.

As Medicare for All legislation heads towards Congressional hearings, here's a look at why even well-meaning projects and reforms inside our for-profit system are doomed from the outset.

Affordable Care Act, pre-existing conditions, universal healthcare, individual mandate repeal, GOP tax cuts, Obamacare, health coverage

That element of the Tax Cuts and Jobs Act of 2017, along with other actions taken by the Trump Administration, are contributing to higher premiums, less coverage and more uninsured.

Homrich 9, Detroit water shutoffs, Detroit water crisis, water privatization, Great Lakes Water Authority, water as a human right

The activists working hardest against the water crisis in Detroit are high school students, college professors, priests and volunteers – all disrupting a system that side-stepped popular votes.

Cuadrilla Resources, U.K. fracking conflicts, fracking protests, fracking ban, Manchester fracking ban, carbon emissions, hydraulic fracturing

In a move that could have repercussions on the fracking industry nationwide, Manchester in northwest England has announced that it is effectively banning the practice.

Indian dams, Afghanistan water rights, Pakistan water rights, water wars, water crisis

As India finances a series of dams along the Kabul River, aiding its neighbor Afghanistan, Pakistan considers the move part of an Indian conspiracy against the increasingly water- and food-stressed nation.

As Medicare for All legislation heads towards Congressional hearings, here's a look at why even well-meaning projects and reforms inside our for-profit system are doomed from the outset.

2020 census, citizenship questions, citizenship status, illegal immigrants, law violations, Administrative Procedures Act

U.S. District Judge Jesse Furman found that Commerce Sec. Wilbur Ross committed "egregious" violations of the Administrative Procedures Act by adding the citizenship question on the 2020 census.

Green New Deal, climate crisis, Alexandria Ocasio Cortez

The Green New Deal provides an opportunity for transformational changes, not just reform, but changes that fundamentally solve the crises we face at all levels, in our towns and cities, states and nationally.

As Medicare for All legislation heads towards Congressional hearings, here's a look at why even well-meaning projects and reforms inside our for-profit system are doomed from the outset.

Posted 6 days 5 hours ago
Green New Deal, climate crisis, Alexandria Ocasio Cortez

The Green New Deal provides an opportunity for transformational changes, not just reform, but changes that fundamentally solve the crises we face at all levels, in our towns and cities, states and nationally.

Posted 6 days 12 hours ago
2020 census, citizenship questions, citizenship status, illegal immigrants, law violations, Administrative Procedures Act

U.S. District Judge Jesse Furman found that Commerce Sec. Wilbur Ross committed "egregious" violations of the Administrative Procedures Act by adding the citizenship question on the 2020 census.

Posted 6 days 12 hours ago
Indian dams, Afghanistan water rights, Pakistan water rights, water wars, water crisis

As India finances a series of dams along the Kabul River, aiding its neighbor Afghanistan, Pakistan considers the move part of an Indian conspiracy against the increasingly water- and food-stressed nation.

Posted 5 days 5 hours ago
Cuadrilla Resources, U.K. fracking conflicts, fracking protests, fracking ban, Manchester fracking ban, carbon emissions, hydraulic fracturing

In a move that could have repercussions on the fracking industry nationwide, Manchester in northwest England has announced that it is effectively banning the practice.

Posted 4 days 5 hours ago
Cuadrilla Resources, U.K. fracking conflicts, fracking protests, fracking ban, Manchester fracking ban, carbon emissions, hydraulic fracturing

In a move that could have repercussions on the fracking industry nationwide, Manchester in northwest England has announced that it is effectively banning the practice.

2020 census, citizenship questions, citizenship status, illegal immigrants, law violations, Administrative Procedures Act

U.S. District Judge Jesse Furman found that Commerce Sec. Wilbur Ross committed "egregious" violations of the Administrative Procedures Act by adding the citizenship question on the 2020 census.

Green New Deal, climate crisis, Alexandria Ocasio Cortez

The Green New Deal provides an opportunity for transformational changes, not just reform, but changes that fundamentally solve the crises we face at all levels, in our towns and cities, states and nationally.

As Medicare for All legislation heads towards Congressional hearings, here's a look at why even well-meaning projects and reforms inside our for-profit system are doomed from the outset.

Indian dams, Afghanistan water rights, Pakistan water rights, water wars, water crisis

As India finances a series of dams along the Kabul River, aiding its neighbor Afghanistan, Pakistan considers the move part of an Indian conspiracy against the increasingly water- and food-stressed nation.