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From: Larry Kazdanhttp://www.sott.net/
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To: letters@globeandmail.ca Cc: bcurry@globeandmail.com
Subject: Re: Liberals gave investors �extraordinary control� over infrastructure bank: opposition, Bill Curry, May 05, 2017
- http://www.theglobeandmail.com/news/politics/liberals-gave-investors-extraordinary-control-over-infrastructure-bank-opposition/article34910106/
- In 1937, the Canadian Minister of Finance spurned a proposal to put single unemployed back to work on the grounds that no money could be found. But after 1939, the federal government used the Bank of Canada not only to clothe, feed and pay the salaries of over one million men and women in the armed forces, but also to purchase a steady stream of armaments, ammunition, tanks and planes.
- Today the federal government claims that investors must be paid 7 - 9% rates of return because the government has limited funds for infrastructure. This false justification gives rise to suspicion that excessive costs paid by the public will end up in the hands of financial elites who happen to support the federal Liberal party.
- Larry Kazdan,
- 1. Tommy Douglas was a �macroeconomist�, not a �provincialist�!
- http://www.progressive-economics.ca/2016/12/05/tommy-douglas-was-a-macroeconomist-not-a-provincialist/
- "In 1937 when the CCF proposed in the House of Commons a $500 million program to put single unemployed to work, the Minister of Finance said where will we get the money? Mr. Benson asked the same question today. My reply at that time was that if we were to go to war, the Minister would find the money. And it turned out to be true.
- In 1939, when we declared war against Nazi Germany, for the first time we used the Bank of Canada to make financially possible what was physically possible. We took a million men and women and put them in uniform. We fed and clothed and armed them. The rest of the people of Canada went to work. The government organized over 100 Crown corporations. We manufactured things that had never been manufactured before. We gave our farmers and fishermen guaranteed prices and they produced more food than we had ever produced in peace time. We built the third largest merchant navy in the world and we manned it."
- "In 1937 when the CCF proposed in the House of Commons a $500 million program to put single unemployed to work, the Minister of Finance said where will we get the money? Mr. Benson asked the same question today. My reply at that time was that if we were to go to war, the Minister would find the money. And it turned out to be true.
- 2. Private financing of infrastructure bank could double the cost of infrastructure projects
- https://www.policyalternatives.ca/newsroom/news-releases/private-financing-infrastructure-bank-could-double-cost-infrastructure#sthash.4mJk8bje.dpuf
- "Private financing of the proposed Canada Infrastructure Bank could double the cost of infrastructure projects, says a study released today by the Canadian Centre for Policy Alternatives (CCPA)."
- "Private financing of the proposed Canada Infrastructure Bank could double the cost of infrastructure projects, says a study released today by the Canadian Centre for Policy Alternatives (CCPA)."
- 3. Michael Hudson is Professor of Economics at the University of Missouri, Kansas City and author The Bubble and Beyond (2012).
- http://www.counterpunch.org/2015/10/05/parasites-in-the-body-economic-the-disasters-of-neoliberalism/
- "If you look at the Forbes 100 or 500 lists of each nation�s richest people, most made their fortunes through insider dealing to obtain land, mineral rights or monopolies."
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