If China Can Fund infrastructure with Its Own Credit, So Can We

Posted: May 18, 2017 in Uncategorized

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A key difference between China and the US is that the Chinese government owns the majority of its banks. Like private banks, state-owned banks simply create money as credit on their books. The difference is that they return their profits to the government (instead of Wall Street), making the loans interest-free. The US government could do this too, without raising taxes, slashing services, cutting pensions, or privatizing industries.

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May 15th-19th has been designated “National Infrastructure Week” by the US Chambers of Commerce, the American Society of Civil Engineers (ASCE), and over 150 affiliates. Their message: “It’s time to rebuild.” Ever since ASCE began issuing its “National Infrastructure Report Card” in 1998, the nation has gotten a dismal grade of D or D+. In the meantime, the estimated cost of fixing its infrastructure has gone up from $1.3 trillion to $4.6 trillion.

While American politicians debate endlessly over how to finance the needed fixes and which ones to implement, the Chinese have managed to fund massive infrastructure projects all across their country, including 12,000 miles of high-speed rail built just in the last decade. How have they done it, and why can’t we?

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Comments
  1. marblenecltr says:

    Come back here and run for office ed on that platform! Please. Phase out the Fed.

    • It will happen, marblenecltr, believe me and it isn’t that far off – restoring the right of government to create money (credit) is the only way capitalism (and civilization) can be saved. The only other alternative is to let the tinder box explode and face total chaos and anarchy.

  2. Not one politician in Washington is concerned about our infrastructure. Every year, they pay lip service to the infrastructure problem and that is all they do and then turn right around and give more money to an already bloated Pentagon budget so that more bombs and missiles can be bought from arms manufacturers to blow up caves in Afghanistan and we are told that there are no funds left for domestic spending because we are flat broke. If we are so broke, then how can we continue to fund a defunct military?

    This hellhole is descending into a 3rd world country and there is not a damn thing anyone is trying to do about it what with the ‘presstitutes’ going on and on about the daily White House shenanigans. They are so glad Trump is president because their 24 hour ‘news’ cycle is all about some new scandal dealing with Trump to the detriment of all else. Meanwhile, Rome burns! And no one is covering that fact!

  3. What I find really sad, Shelby, is the ones who genuinely care about serving their country get driven out of Congress like Cynthia McKinney and Dennis Kucinich.

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