Alaska requires a minimum of 5 billion dollars per year in state, municipal, port authority and federal infrastructure and productive capacity bonds, grants and shares leveraged through a new discount window at the United States Federal Reserve.
After over 30 years of writing a political economic newsletter in Alaska I am convinced that without this new revenue the Alaska economy will fail causing widespread human suffering and a decades-long outflow of population even if the massive subsidy of oil tax credits is ended.
The only possible solution is a science and infrastructure-led recovery based on building a political consensus for investing in megaprojects using the inevitable creation of a new infrastructure and productive capacity discount window at the United States Federal Reserve.
The global quadrillion-dollar financial derivatives market is approaching its inevitable collapse and the crisis caused by this devaluation will necessitate the creation of a new credit mechanism at the Federal Reserve. Alaskans must prepare ourselves for the change in monetary policy through maintaining our “shovel ready” megaprojects so Alaska has the immediate ability to participate in the new financial credit program.
The inevitable crash of the stock market will signal the time to offer our megaprojects (with an emphasis on building our new gas pipeline and UAA plasma physics institute) for participation in the new discount window. The big question is how long the window will stay open. The dominance of the British System of political economy is now so pervasive in our nation that the old teachings of the British East India Company will most likely force the closure of the window after the immediate crises abates.
If our megaprojects infrastructure projects have been put on hold and the window closes after a few months, then Alaska will have experienced another lost opportunity.
The biggest problem in considering infrastructure investment is the decades-long dominance of the British System of political economy in our schools and media. The American System of political economy that helped to create the United States as an agricultural and industrial superpower seems to be currently lost to the history books.
Pitting infrastructure against other important priorities is not the solution. Alaskans must stand together and prepare our budgetary process for participation in a new discount window at the United States Federal Reserve. The politicians who oppose the national movement for Federal Reserve reform or are either too ignorant or weak to fight for this reform must not be reelected.
Continue reading my timeline to learn more about the importance of creating the Alaska Infrastructure Fund as a method of participating in the proposed changes in Federal Reserve monetary policy.
