An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
National infrastructure bank: a chance to rebuild the U.S. or a privatization coup d'etat? Here is some more "hope" and some more "change". Read here.
"The cynics are right nine times out of ten"-H.L. Mencken
5 comments:
GLH
said...
How long will it take for progressives to realize that O is a neo-liberal? In fact, I suspect that the whole Democrat party is as neo-liberal as the Republicans.
More neoliberal nonsense and crony capitalism. I said during the primaries that O was a Chicago pol and snake in the grass.
Whoever can fund a presidential campaign, which requires massive contributions from the plutocratic oligarchy, is by definition a sell-out. There has to be massive payback.
Nothing will change until we get the money out of politics and close the revolving door. It will take either a constitutional amendment (unlikely) or a revolt (looking more and more likely).
I'm glad people are finally waking up about this infrastructure bank business. It's another step in the coordinated neoliberal goal of gutting the public sector and turning absolutely everything over to private ownership.
So I'll put a bullseye on my back, but I'm interested in earnest discussion.
As an MMT-er, I want to see government spending productively to improve the real output of the country. One potential issue with government spending is that it is unproductive (e.g., a Chinese ghost city). Tying the repayment of the investment to a revenue source such us a toll helps ensure the project increases the real resources available to us as a nation. Productivity of government spend should be our focus, instead of a meaningless obsession with the total public debt (private credit).
5 comments:
How long will it take for progressives to realize that O is a neo-liberal? In fact, I suspect that the whole Democrat party is as neo-liberal as the Republicans.
More neoliberal nonsense and crony capitalism. I said during the primaries that O was a Chicago pol and snake in the grass.
Whoever can fund a presidential campaign, which requires massive contributions from the plutocratic oligarchy, is by definition a sell-out. There has to be massive payback.
Nothing will change until we get the money out of politics and close the revolving door. It will take either a constitutional amendment (unlikely) or a revolt (looking more and more likely).
I'm glad people are finally waking up about this infrastructure bank business. It's another step in the coordinated neoliberal goal of gutting the public sector and turning absolutely everything over to private ownership.
I warned about the infrastructure bank in a post on my blog about a year ago. We're privatizing everything.
http://commentsongpe.wordpress.com/2010/09/07/beware-of-the-national-infrastructure-bank/
So I'll put a bullseye on my back, but I'm interested in earnest discussion.
As an MMT-er, I want to see government spending productively to improve the real output of the country. One potential issue with government spending is that it is unproductive (e.g., a Chinese ghost city). Tying the repayment of the investment to a revenue source such us a toll helps ensure the project increases the real resources available to us as a nation. Productivity of government spend should be our focus, instead of a meaningless obsession with the total public debt (private credit).
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