Gary Dymski

Gary has been Professor of Applied Economics at the University of Leeds since 2012. Formerly Professor of Economics at Univ of California, Riverside.

[Gary Dymski @GADymski]

@JoMicheII Brilliant, Jo!

[Gary Dymski @GADymski]

@tymoignee John's engagement with students was a model - supportive, pointing to more and deeper insight. And his approach as a scholar and reader is embodied in those lists Eric has shared - finding links among theories, and with history. We can only follow the path he laid out. In sorrow.

[Gary Dymski @GADymski]

@AnnPettifor John was one of those who always backed up his beliefs with action, and took on an organizing role. He was and will be an inspiration across the generations. My sympathies as well to his wife, children, friends, and former students.

[Gary Dymski @GADymski]

@BlackAmCaucus The destruction to African American wealth in the subprime crisis (and Latinx wealth) was huge, and uncompensated as well. Check this:

[Gary Dymski @GADymski]

@BlackAmCaucus For reflection, on the homeless: in the UK there are 302,000 homeless people. Apparently, half the US total. But ‘Rough sleepers,’ unsheltered people sleeping outside - 4600. THe difference? the Brits count people w/o secure housing, not those in the streets.#UNHOUSEDANDUNBANKED

[Gary Dymski @GADymski]

@OttoPWestJr @SandyDarity @MehrsaBaradaran @BlackAmCaucus The Brazilian development bank has accounted for as much as 35% of loans to business there; and the German public development bank provides small business loans through city-owned banks there. It can be done. #UNBANKED

[Gary Dymski @GADymski]

@MehrsaBaradaran @BlackAmCaucus Excellent point! We can learn from Germany, from Brazil, from Europe. A public development bank is a must.

[Gary Dymski @GADymski]

@SandyDarity @BlackAmCaucus Retrofitting and building housing that is affordable, investing in urban infrastructure and clean transportation. Build the nation - China built its bullet-train system in the 2008 crisis. We have the resources - need the will. #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus We need a national right to housing backed up by an employment program that will build and refit it - in a green way.
We need the right to well-being and health, w/access to healthcare.
These rights can be won only if historical injustices are recognized, debts paid. #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus Because there is still the workhouse rather than citizenship mentality – you are only worthy if you support yourself in the capitalist economy. The gov't has no obligations to you as a citizen; and global lenders profit from predatory loans to the excluded. #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus To quote my co-author Jesus Hernandez, ‘all the underlying indicators for the virus are in segregated neighborhoods, and the low pay service workers on the crisis frontline live there, so racially segregated financially redlined space is a bullseye for the virus.; #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus Consequence: destruction of household net value in African American and Latinx communities -

[Gary Dymski @GADymski]

@BlackAmCaucus Banks were not forced to ‘cram down’ mortgages for devalued homes, because these loans had been sold into int'l financial markets. The govt protected/saved the big banks and subsidized international financial firms so as to maintain confidence in US financial markets. #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus On banking: In the 2008 subprime crisis, African Americans disproportionately had high percentages of subprime loans, even when they should have qualified for prime home loans.
US govt response to the subprime crisis went to banks, w/virtually no mortgage relief. #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus On housing: There has been a systematic elimination of public housing programs and of subsidized housing programs to construct housing for lower-income people, in favor of moving housing upscale. #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus For the unbanked (2017 survey), African Americans are disproportionately unbanked: 17% of Black households are unbanked, versus 14% Latinx households and 3% of white households. #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus The last homeless statistics from the government are for a one-night total in January 2019: 568,000. Of homeless people in shelters that night, 47.5% were African American, and 22% Latinx. African Americans were 27% of unsheltered homeless that night, and Latinx 23%. #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus AFS include payday loans, check-cashing services, non-bank money orders, pawnshops, rent-to-own agreements.
So many people go to these devices because they don't trust the banks, or are not welcome there. #UNBANKED

[Gary Dymski @GADymski]

@BlackAmCaucus The US Federal Deposit Insurance Corporation defines an unbanked household as one in which no member currently has a checking or saving account.
THe FDIC defines an underbanked household as one that has a checking or savings account but relies on ‘alternative financial services’