Friday, December 26, 2008

American Industrial Redevelopment Bank Needed

Like some third world countries asking for basic loans to build basic infrastructure, it is time to rebuild the decimated industrial base of the American Economy.

I am not talking about municipal bonds to build schools and roads but while we are on the subject, that sounds like a good idea.

Our money system is mixed where the Fed ignores housing inflation and the underground cash economy. The Fed is myopic and only sees Wall Street as the alpha omega of any and all possible investment.

We used to have factories my fine white collared suits currently standing waist high in the debris of the current economic meltdown.

Lets get some new ideas, common sense ideas. Lets start categorizing money according to usage and national need.

Let us start to issue bonds or notes to develop industrial parks building only GREEN. Or refit obsolete automobile assembly lines to do so. It is time to archive an obsolete one size fits all banks Hamiltonian, general nineteenth century Wall Street only money need basis.

Let Americans buy Industrial Redevelopment Notes and make them tax free on interest until America regains its place in the world or at least has a safe at home industrial base to protect in its defense against foreign domination in the industrial sector. Let only industrial lending be done with this bond generated money.

Let the treasury only notes, cash/cash general purpose junk notes, continue to be issued and tax the hell out of money that does not build but only parasites and ponzis money off other money.

Our brilliant nineteenth century economists need new ideas and new formulas that put people, American people, back into all levels of economic equations and dequations.

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