Some Quick Thoughts On President Biden's SOTU Remarks About How To Fight Inflation--

 Some Quick Thoughts On President Biden's Remarks About How To Fight Inflation--

(Written as a comment on HCR this morning) 


["One thing which has been documented which I'd like to see emphasized is the enormous multiplier and "payback" effect of government directed credit and investment into large scale productive infrastructure.


My wife, researcher and activist Martha Rosen has written a two part series on Franklin Roosevelt's and Frances Perkins' Recovery program, from the New Deal to the Wartime mobilization.. (links below) A fine example is The Tennessee Valley Authority, (TVA) in terms of how an integrated large scale system of Water management, transportation and energy transformed life in America, undercut greedy corporations like the power companies, massively upgraded living standards, healthcare, education and agriculture, lifting up an entire region of North America out of illiteracy, poverty, and the destructive effects of uncontrolled flooding. And it paid for itself within 10 years of completion, and many times over since. 


Government spending on big infrastructure is anti-inflationary in the long run, because it generates real economic value, productive employment, and actual physical wealth which is the only real world basis for monetary value. The Free Trade lunatics of the GOP such as the Friedmanites have been at war with the FDR/Perkins New Deal for 60 years, and their main weapon has been concocting lies and fiction about the so-called causal relationship between government spending and inflation.


Hit them hard with case studies like TVA and the JFK Apollo program to show how the opposite is true. And in the process, remind ourselves of those things that we used to do right, which President Biden is trying to revive today."]


https://therosenreport.blogspot.com/2020/10/article-by-martha-rosen-miracle-of.html


https://therosenreport.blogspot.com/2020/10/franklin-roosevelts-miracle-part-ii.html

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