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View Diary: Chris Hedges: Overthrow the Speculators (101 comments)

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  •  If CA paid $23M for the $22M loan, it's still (1+ / 0-)
    Recommended by:
    Calamity Jean

    too much. There's no reason to get the funding from a private bank for any state project, when a State Bank could issue the same monies for the same work and not cost the people a penny. Neither in interest nor tax increases.

    It's not about blame as much as it is about arithmetic.


    Actual Democrats: the surest, quickest, route to More Democrats. And actually addressing our various emergencies.

    by Jim P on Tue Dec 31, 2013 at 10:35:07 AM PST

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    •  "not cost the people a penny" (1+ / 0-)
      Recommended by:
      johnny wurster

      Money doesn't appear on the bank's balance sheet by magic.

      The lending activity of the Bank of N. Dakota mentioned here is VERY modest - about $3 billion - mostly for student loans.

      The opposite of "good" is "good intention" - Kurt Tucholsky

      by DowneastDem on Tue Dec 31, 2013 at 11:14:24 AM PST

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      •  When you decree money into existence, (0+ / 0-)

        and that's what issuing credit does, then it's not costing you beyond having someone type in the amounts on the ledgers. Okay, $6, assuming $24/hr pay to the typist and they're very very slow typists.


        Actual Democrats: the surest, quickest, route to More Democrats. And actually addressing our various emergencies.

        by Jim P on Tue Dec 31, 2013 at 11:22:20 AM PST

        [ Parent ]

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