Bloomberg – Money and payment systems, the underpinnings of all financial activity, are still traditional in one respect: They rely on central third parties — banks — to record and vouch for transactions.
Digital currencies dispense with this. They create a decentralized record — a “distributed ledger” — which allows buyers and sellers to interact directly. more> http://tinyurl.com/mx4unrg
Posted in Banking, Broadband, Business, Economic development, Economy, Education, Net, Regulations, telecom
Tagged Banking reform, Business improvement, Capital, Credit, Currency, Government, Internet, Regulations, Technology, United States
By Barry Ritholtz – Assets purchased with cheap and widely available credit become worth significantly less once the bubble bursts. But the debt remains.
All of that leverage used to purchase all of those assets — regardless of whether it’s subprime mortgages or dot-com stocks — sticks around.
Hence, a post-credit-crisis recovery is dominated not by the release of pent-up demand, but by massive corporate, household and government deleveraging. more> http://tinyurl.com/pryw54s
Posted in Banking, Business, Economic development, Economy, Education, History, Regulations
Tagged Banking reform, Business, Capital, Credit, Financial crisis, Industrial economy, Regulations, United States
By Matt Phillips – Auto sales are booming—but that’s largely because it’s so easy for consumers to get loans.
In a consumption-dominated economy like the US, consumers need to spend.
And if consumers don’t have the wages to spend, the only way to keep the consumption engine going is by extending debt to people with extremely shaky finances.
That’s a recipe for a future full of financial crises. more> http://tinyurl.com/mf2obd3
Posted in Banking, Business, Economic development, Economy, Education, History, Leadership, Media, Regulations
Tagged Business, Capital, Credit, Financial crisis, Government, Industrial economy, Jobs, Leadership, Regulations, United States