Restitution for African Slave Labor
Jewish holocaust survivors sued several of Germany’s biggest companies, alleging that the firms profited from Nazi-era slave labor. The lawsuits followed the recent Holocaust settlement of $1.25 billion with Swiss banks, and a pledge by the Italian insurance firm Asscurazioni Generali to pay $100 million to compensate Holocaust victims for unpaid insurance policies. Generali was one out of sixteen insurers facing a class-action lawsuit filed in behalf of Jewish survivors.
In the Long Run U.S. Financial Sanctions will Backfire
Political and business elites in the U.S. use financial sanctions as a weapon to destroy economies. However, to avoid potential U.S. sanctions countries are moving away from the U.S. dollar as a global currency and slowly reducing foreign demand for U.S. dollars, which will be disastrous for the U.S. economy.
Improving the Economy in Distressed Communities
Without significant influx of credit, economically distressed communities will remain poor. The nonprofit Economic Innovation Group indicated that more than 50 million Americans live in economically distressed communities. Florida and Bendix mapped the most distressed communities in the United States and noted that “In the average distressed ZIP code, around 25 percent of adults lack a high school diploma, and a whopping 55 percent are not working.”