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Postal Banking in the U.S.? It’s Not as Unlikely as It Sounds

Postal Banking in the U.S.? It’s Not as Unlikely as It Sounds

By Editorial Board, Bloomberg – Should U.S. post offices also be banks? Lately, a group of legislators including Bernie Sanders and Alexandria Ocasio-Cortez has been championing the idea as a way to address economic inequality. It might seem far-fetched, given how the postal service has been struggling recently to even deliver the mail. But the idea shouldn’t be dismissed.

How Rural Electric Cooperatives Can Support a Green New Deal

How Rural Electric Cooperatives Can Support a Green New Deal

By Wan R. Smith and Philip Fracica, Nonprofit Quarterly – Today, as President Joe Biden’s $2 trillion infrastructure bill is debated in Congress, it’s worth recalling that this isn’t the first time the US has faced an infrastructure deficit. “By the 1930s nearly 90 percent of US urban dwellers had electricity, but 90 percent of rural homes were without power. Investor-owned utilities often denied service to rural areas, citing high development costs and low profit margins,” recalls one account.

Rural Distress and the Concentration of Financial and Economic Power

Rural Distress and the Concentration of Financial and Economic Power

By Stacy Mitchell, Institute for Local Self-Reliance – Rural America is in crisis, and the gap between struggling rural towns and coastal supercities is growing ever wider. Much of this distress stems from the concentration of corporate and financial power, which is centralizing wealth in the hands of the few while wiping out the independent businesses and well-paying jobs that are the foundation of rural economies.

Sen. James Sanders’ public banking bill: How it could work in New York

Sen. James Sanders’ public banking bill: How it could work in New York

By Susan Arbetter, City of Albany – Under Sen. Sanders’ “New York Public Banking Act” (S1762A/A5782), a bank would be controlled by a government body rather than by private investors. Additionally, the public bank would be an institutional lender — in other words, a bank that other banks turn to for loans, not one at which individuals would open checking accounts.

Take On Wall Street With Local Banking

Take On Wall Street With Local Banking

By Ben Frogel, The American Conservative – Local banks and credit unions foster a sense of community and place, are far removed from the culture wars in Washington, and enable local businesses to stay afloat against the tide of homogenization. Conservatives should readily take up the mantle of public banking, which helps locally owned businesses, frees municipal budgets from Wall Street, and promotes the decentralization of banking power. Conservatives can look to North Dakota’s state bank as an example of how and why.

Big Banks Charged Billions in Overdraft Fees During the Worst Months of the Pandemic

Big Banks Charged Billions in Overdraft Fees During the Worst Months of the Pandemic

By Alexander Sammon, The American Prospect – Last week, the country’s largest banks announced their quarterly earnings, crushing estimates and expectations nearly across the board. It marked another surprisingly profitable quarter in what’s become quite a run since the coronavirus hit the U.S. over a year ago. Banks, to the surprise of nobody, have been among the first American institutions to recover, and have done so dramatically. Millions of working people lag behind.

Beef up New Mexico’s food supply chain with local processing

Beef up New Mexico’s food supply chain with local processing

By Sherry Robinson, Carlsbad Current Argus – The pandemic has shown us the weaknesses in the supply chain and reoriented consumer demand. Consumers nationwide depend on four big meat packing companies, and when plants closed over COVID-19 outbreaks, grocery store shelves emptied. That spurred consumer interest in buying local meat; there’s also growing enthusiasm for organic, grass-fed beef.

State and Local Public Bank Efforts Stalling Without More Federal Support

State and Local Public Bank Efforts Stalling Without More Federal Support

By Oscar Perry Abello, Next City – Public banking legislation was introduced into the New Mexico state house and senate earlier this year, where it received approval from one house committee but stalled in another. Some of the reason for that stalling out was questions raised about the proposed bank that can’t quite be answered at the state level. Those questions would require action at the federal level, actions that happen to be at the heart of the Public Banking Act, introduced in the U.S. House of Representatives last year.

2021 Infrastructure Report Card Lays Groundwork for Federal Infrastructure Plan

2021 Infrastructure Report Card Lays Groundwork for Federal Infrastructure Plan

By American Society of Civil Engineers – On March 3rd, ASCE released the 2021 Report Card for America’s Infrastructure through a virtual Solutions Summit to an audience of more than 3,400 attendees from across the country. The Report Card, which covers 17 categories of infrastructure, assigned the U.S. a cumulative grade of ‘C-‘, up from a ‘D+’ in the 2017 report. While the GPA improved slightly, there are still 11 categories in the ‘D’ range, meaning these systems are in poor condition and at risk.

Upcoming Events

may, 2021

03may2:00 pm3:00 pmVirtual Backyard Compost TrainingsLearn how to keep your food scraps and yard debris out of the trash

04may10:00 am11:30 amSeed to Supper OnlineLive virtual series on gardening in New Mexico

05may4:00 pm5:30 pmSeed to Supper OnlineLive virtual series on gardening in New Mexico

12may4:00 pm5:30 pmSeed to Supper OnlineLive virtual series on gardening in New Mexico

13may6:00 pm7:00 pmVirtual Backyard Compost TrainingsLearn how to keep your food scraps and yard debris out of the trash

14may10:00 am11:00 amPublic Banking Coalition Monthly Conference CallLearn more about Public Banking, discuss current issues and get updates on the movement.

18may10:00 am11:30 amSeed to Supper OnlineLive virtual series on gardening in New Mexico

19may10:00 am11:00 amVirtual Backyard Compost TrainingsLearn how to keep your food scraps and yard debris out of the trash

19may4:00 pm5:30 pmSeed to Supper OnlineLive virtual series on gardening in New Mexico

25may10:00 am11:30 amSeed to Supper OnlineLive virtual series on gardening in New Mexico

26may4:00 pm5:30 pmSeed to Supper OnlineLive virtual series on gardening in New Mexico

The Benefits of Forming a NM Public Bank

Retake Our Democracy
Jun 23, 2020

AFLEP is joined by Ellen Brown, Chair of the Public Banking Institute, and Paul Stull, President and CEO of the Credit Union Association of New Mexico for this panel discussion about the potential benefits of a New Mexico state public bank. Panel facilitated by Retake Our Democracy.

Truthout - FAIR Podcast - AFLEP

California’s New Public Banking Option Opens Door for Real Community Investment
FAIR / Truthout.org

Economy & Labor
Oct 22, 2019

Janine Jackson interviews Public Bank LA’s Trinity Tran about public banking for the October 11, 2019, episode of “CounterSpin.”

>> Listen to the Podcast

It's Our Money with Ellen Brown

Banking on the People by Ellen Brown - AFLEP

Ellen Brown’s
2019 Book

Today most of our money is created, not by governments, but by banks when they make loans. This book takes the reader step by step through the sausage factory of modern money creation, explores improvements made possible by advances in digital technology, and proposes upgrades that could transform our outmoded nineteenth century system into one that is democratic, sustainable, and serves the needs of the twenty-first century.

Order the Book

Join those who’ve endorsed a Public Bank for New Mexico

Paul Gibson endorses Public Banking NM

 

“I had the good fortune to work on this initiative before Bernie kidnapped all my time. This is one of those no-brainer initiatives that only the 1% could oppose. It has the potential to save the state millions of dollars by vastly reducing the cost of its bonds to improve infrastructure funding. in a public bank, our state funds can be used to build our local economy and our local infrastructure.”

– Paul Gibson
Retake Our Democracy

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