True but where would the great us merchant marine of history be without US banks funding grain shipments to Russia in the cold war, Russian truck and weapons factories during the Vietnam war. German factories in World War II…
And out of all of the new “points of power” that we have stumbled into during the last decade the most important for US merchant mariners is the Pentagon’s newfound realization that they can’t fly all their shit to China.
(I said in a previous post that nobody realizes this, that’s not entirely true, Admiral Busby realizes this which is why he has spent so much of the last four years negotiations with the Pentagon. He has thankfully set the stage for us to exercise the point of power)
And that realization would never have happened if it weren’t for the fact that US banks are the ones funding Chinese factories which are paying taxes to a government that’s building a ginormous navy… and… are the ones funding Russian oligarchs.
So we have two options:
- yell and scream at Congress to reform the banking industry which, btw, also is the funding source Behind most of the special interests which pour cash into their campaigns.
- Work with the banks to create domestic alternatives to overseas investments.
To be clear I am not advocating making a deal with the devil. I grew up in a town surrounded by investment bankers. We can sit on her high horse and point fingers at them but the truth is they are not doing this on purpose. Most of them work 16 hour days and don’t have the time or desire to understand the global implications of their lending policies.
We need to educate them but you don’t educate someone by walking in and calling them assholes. You educate them first by showing them better alternatives for their investments then, once they have taken the bait, you real them in I explaining the global implications in a non-judgemental way.