Saturday, May 25, 2013

Quantitative easing is for wasteful or destructive purposes only - we have to get creative to finance infrastructure

“According to our report ‘Falling Apart and Falling Behind,’ America currently has more than 69,000 structurally deficient bridges, many of which haven’t been updated in decades,” Mr. Rendell said. “If the US wants to remain competitive in the global economy and provide safe, efficient transportation systems for our nation, then I urge state and local officials to act now and find creative ways to fund these projects, so that future collapses and accidents can be avoided."
from Skagit River bridge collapse: Looking for a temporary fix

Maybe we could get Bernanke to issue credit for something productive for a change. Yeah, right - "quantitative easing" is intended to destroy civilization, so why would he use it to build infrastructure? If he used it in one case, then Americans might rediscover the concept that's been buried since Alexander Hamilton, the System's creator, was essentially murdered by oligarchical henchman and expert dueler Aaron Burr.  So, as Rendell said, we have to get creative. Perhaps we could sell each other water and tax the transactions.