Ending Today's Economic Crisis Simply and Easily, in America and Globally

Stephen Lendman

May 27, 2009

Some of the best ideas are often the simplest. When applied to the global economic crisis, the solution is easier than imagined. What's hard, in fact a Gordian Knot, is the political will to embrace it. But even matters that great can be solved by a bold stoke, and according to legend, Alexander the Great's "Alexandrian solution" was achieved with one stroke of his sword, cutting the Knot in half. Applied to the global economic crisis, it means addressing it with effective policies, not ones wrecking America and other troubled nations worldwide.

Economist Michael Hudson explains that "debt leveraging is what caused our economic collapse," so piling on more ("The Recovery Plan from Hell" he calls it) makes things worse, especially the way it's done:

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Are We Ready to Do Away With Interest?

How Do We Do It?

Simple. Every bank should start a division for interest-free banking and investment. Research centers and universities should start focusing on research, development and training on interest-free banking and investment. Government should encourage the newly-emerging sector through tax breaks, incentives, and direct investment.

Slowly but surely, the economy would start moving towards a new responsible and highly rewarding mode. It may not do away with interest banking altogether, but for sure it will give us more choices. Something we cannot say we have at this point in time.

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