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Jeff Bell on Corporations

 

 


Low interest rates favor big businesses over small

Bell [wants] to draw attention to the issue of the Federal Reserve setting artificially low interest rates, which Bell says allow the federal government to run up trillions in debt and also benefit large corporations and investment banks; they stagnate the economy because they prevent small community banks from giving loans to small businesses and start-ups.

"It isn't profitable for them to lend to a business with a certain amount of risk with very low interest rates, so a lot of the lending that would normally set up lines of credit for small business are on the sidelines." Because small businesses are the biggest job creators, the lack of available credit hurts the labor market, he said.

Bell's proposed solution is to return the country to a gold standard, in which a large percentage of the US dollars in circulation are required to be backed by the corresponding value of gold in reserve. He believes doing so will cause interest rates to rise but provide greater long-term economic stability.

Source: Burlington County Times on 2014 New Jersey Senate race , Jun 1, 2014

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