Nov. 3, 2018–Once the separation between commercial banking and speculation has been re-established, the problem of a supply of cheap, long-term credit for the physical economy is easily solvable. Given the enormous needs for infrastructure building and rebuilding, this will require Federal credit and Federal credit guarantees. There are various means by […]
Aug. 27, 2018–While Central Banks exist in many other countries, the United States is unique in its successful development of national banking. The purpose of National Banks, developed even before the ratification of the U.S. Constitution, was to marshal the financial resources of the young nation and direct them into […]
By Nancy Spannaus May 12, 2018—On April 23, 1834, a meeting of the “People of Mifflin County, Pa.” adopted the following resolution, which it sent on to the Congress of the United States: Resolved. . . . That the unwise and unlawful removal of the public deposits from the Bank […]
By Nancy Spannaus April 5, 2018–National banking in the United States built us into an industrial giant. It derives specifically from Alexander Hamilton’s concept of the First Bank of the United States, a partially government-owned credit institution devised to unify and build the young nation. The fact that most Americans […]
By Nancy Spannaus Dec. 12, 2017—Ask any professional economist, or Congressman for that matter, about why the United States is facing a hundreds of billions of dollars deficit in basic infrastructure, and he will tell you that we “don’t have the money.” But how could that be true? Trillions of […]
By Nancy Spannaus Nov. 14, 2018—A group of approximately 25 citizen-leaders gathered in a Washington, D.C. library last night to discuss how to address the question of the nation’s collapsing infrastructure. The lively, almost-unstoppable discussion centered around a slide show presentation on a National Infrastructure Bank (NIB) proposal, given by […]
By Nancy Spannaus Nov. 11, 2018—In its quarterly release Nov. 1, the U.S. Bureau of Labor Statistics (BLS) threw a wet blanket on those who have been claiming that this year’s job growth has led to a qualitative improvement in the U.S. economy. The BLS stated that productivity growth between […]
A National Infrastructure Bank to Fund Infrastructure in Virginia
By Alphecca Muttardy, Macroeconomist Last updated 10/25/2018 Summary: At present, the State of Virginia spends about 10% of its total public spending (or 1.7% of the state’s GDP) on public infrastructure projects.[1] Of that total, the Virginia state budget pays for highway construction and improvements at four-year universities; local governments […]