Calling BS on the R Financial “Experts”

Look, don’t let anyone tell you that we don’t have the money or resources to rebuild our infrastructure. We do.

It’s well past time to call BS on the financial “experts”, especially the ones with “R” (for Republican) after their name. They are dead wrong and most likely trying to line the pockets of their moneyed, predatory capitalists, supporters.

Why? Because we can and do have the wherewithal and it’s the same as our ancestors had (and used) and the rest of the world is using right now…. publicly-owned financial institutions.

So let us call BS on the R financial “experts” and get about the work of the people of the United States.

And the good news? Congress can do this tomorrow.

Here’s the story…

Why Germany Leads in Renewables: It Has Its Own Green Bank, The Web of Debt Blog, Ellen Brown, 26 Jan 2019.

"The Green New Deal endorsed by Alexandria Ocasio-Cortez and more than 40 other US Representatives has been criticized as imposing a too-heavy burden on the rich and upper-middle-class taxpayers who will have to pay for it, but taxing the rich is not what the Green New Deal resolution proposes. It says funding will come primarily from certain public agencies, including the Federal Reserve and “a new public bank or system of regional and specialized public banks.”


"Funding through the Federal Reserve may be controversial, but establishing a national public infrastructure and development bank should be a no-brainer. The real question is why we don’t already have one, like China, Germany, and other countries that are running circles around us in infrastructure development. Many European, Asian and Latin American countries have their own national development banks, as well as belonging to bilateral or multinational development institutions that are jointly owned by multiple governments. Unlike the US Federal Reserve, which considers itself “independent” of government, national development banks are wholly owned by their governments and carry out public development policies."

…

"The most profitable and efficient way for national and local governments to finance public infrastructure and development is with their own banks, as the impressive track records of KfW (Kreditanstalt für Wiederaufbau or “Reconstruction Credit Institute”) and other national development banks have shown. The (Franklin D. Roosevelt initiated) RFC (Reconstruction Finance Corporation) showed what could be done even by a country that was technically bankrupt, simply by mobilizing its own resources through a publicly-owned financial institution. We need to resurrect that public funding engine today, not only to address the national and global crises we are facing now but for the ongoing development the country needs in order to manifest its true potential."
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"Annie" (1982) - Tomorrow