Black People : North Dakota's Economic "Miracle"-It's Not Oil

Discussion in 'Black People Open Forum' started by RAPTOR, Sep 5, 2011.

  1. RAPTOR

    RAPTOR Well-Known Member MEMBER

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    "North Dakota has had the nation’s lowest unemployment ever since the economy tanked. What’s its secret?"

    by Ellen Brown

    (excerpt)

    If its secret isn’t oil, what is so unique about the state? North Dakota has one thing that no other state has: its own state-owned bank.

    Access to credit is the enabling factor that has fostered both a boom in oil and record profits from agriculture in North Dakota. The Bank of North Dakota (BND) does not compete with local banks but partners with them, helping with capital and liquidity requirements. It participates in loans, provides guarantees, and acts as a sort of mini-Fed for the state. In 2010, according to the BND's annual report.

    The complete story:
    http://www.yesmagazine.org/new-economy/the-north-dakota-miracle-not-all-about-oil
     
  2. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    That's what i'm talking about , this the kind of moves we need.
     
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