Tuesday, August 23, 2011

Economic Policy Journal Doesn't Much Care for the National Infrastructure Bank

No siree.
From EPJ:
I Warned You About the National Infrastructure Bank
On August 6, I wrote:
Now a long-time D.C. insider has tipped me off as to how the banksters plan to squeeze the next phase of the budget deal for their own benefit. This insider writes to me:

What hat trick do the “banksters” try next? IMHO, they love to hide their best and biggest tricks in plain sight.

It’s the “national infrastructure bank.” Leading Democrats on the Hill are teeing up a national infrastructure bank to be incorporated into the next budget deal. As an example, Chuck Schumer is proposing using the proceeds from a new, one-year repatriation tax to fund the start up costs of such a national infrastructure bank
Bottom line, the banksters have a key man in place to guide the next budget deal and turn it into a bankster feast. Expect the result to be the National Infrastructure Bank...

Now, Mr. Insider, Nouriel Robini, has stopped his defense of the Federal Reserve for the moment to run propaganda for the coming National Infrastructure Bank, he just sent out this barrage of tweets:

Bi-partisan (Senators John Kerry - D and Kay Bailey Hutchison - R) support for National -Infrastructure Bank.
If return > cost, debt financed pub infrastructure self pays either via user fees or the higher revenues that the increase in GDP generates