If they can't get it by going through the front door, they will try the back door. That's this writer's opinion of the proposed "National Infrastructure Bank".
Warren Buffet recently put 5 million bucks into the Bank of America. Do you think he did this because he sees BoA as a good investment? Maybe, but I believe he's done it to ward off the "nationalization" of one of America's banks by the current White House.
What is "nationalization"? I can best describe it by a cartoon I saw when Fidel Castro was at the height of his power in Cuba. He had just hit a fly ball to the outfield. Before it could be caught he shouted, "Quick, nationalize the outfield!"
Janet Kavinoky, director of what is being called "infrastructure issues at the U.S. Chamber of Commerce", believes the best incentive for "job growth" in the short term is for Congress to pass long-stalled bills to fund aviation and highway programs. She goes on to say we're one of the few large countries that lack a "central source of low-cost financing for constructon projects". Hmmm, does that translate to "union" jobs and central planning?
Who else is on board while there are continued attempts to move our nation to communism?
Sen. John Kerry, D-Mass. is one of 'em. He's already sponsoring an infrastructure bank bill. Spouting a leftist theory, he says such an endeavor would have moola flowing as early as next year.
Michael Likosky is a senior fellow at the NYU Institute for Public Knowledge, an impressive-sounding title. He's written "Obama's Bank: Financing a Durable New Deal." He says that states with transportation agencies, like California and New York, are frothing at the mouth as they wait for Uncle Sam to come up with the money. What am I missing here? He's talking about the same federal government that has NO money? Abracadabara....
A slick endeavor such as what will be proposed is another step towards the socialization of America in the guise of a new banking system that would be controlled by the Federal Government. Uh uh!
We can expect our government-controlled media to fully support this not-so-blatant attempt to nationalize our economy. If one reads between the lines we can see it's another small-step by the federal government towards "seizing" capital that is now unreachable, i.e., pension funds, private equity funds and sovereign wealth funds that are reportedly worth hundreds of billions of dollars.
For the little money I have, I'm waiting until the election of 2012 is over. The outcome will either make us or break us. A better approach will be to encourage capital to flow back into the U.S. by creating every incentive available to allow it. The federal government has to get out of the way, not create avenues to control more of what's left of our economy and free-enterprise system.
Our system of government and economy is what produced the greatest nation in history. To quote President Reagan, "Government is not the answer. Government is the problem."
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