Political ravings/ranting may well belong on a different forum, however there was no need to add that the poster made himself look ridiculous and stupid as well .
Thanks for your kind words of support, Kelvin. Calling their political opponents "ridiculous and stupid" is way below the belt, even for the Tories. Though when canvassing for the Communist Party we suffered far worse abuse, especially in South Suffolk. Did I mention that one bumpkin-farmer threatened to shoot us? The Tories ain't called the Nasty Party for nothing!
C'mon guys, lighten up a bit! It is after all the Sabbath. The day of rest. The day that God put His feet up, too; lit Himself a nice fat Havana; and poured Himself a well-deserved stiff drink (Jameson's no doubt); before admiring all the Public Infrastructure He had built over the six days previous. I'm sure He won't mind me saying that it's amazing what you can achieve when you put your mind to it!
If only BT would follow His example in their fibre rollout. Instead of the sinful balls-up we've had from them to date.
Applying Band-Aid after Band-Aid just to keep their wretched telco network from collapsing in an unedifying heap. First we had that g.vector blundering - will it work? Or won't it? Nope, it won't. Then g.inp that also won't play ball with BT's el-cheapo cabinet kit. Then that DLM/Assai code-pilfering scandal. Not to mention all the other ECI catastrophes. Retro-fitting those heatpads in the DSLAMs to keep the slugs off the PCBs. For chrissake! Heath-Robinson or what?? And all that dodgy new cabinet kit costing a fortune but obsolete already; fit only for landfill before it's even installed. Shameful. Then those flaky promises of g.fast being just over the horizon. Sorry guys! False alarm! Let's aim for the next horizon, yes?!
Britain must get this train-wreck of a telco network back on its feet again, and pronto. And let's aim for the sky this time. Fibre-to-EVERY-Premises is quite possible this side of 2020. All it needs is a bit of cash. About £30 billion should do nicely.
Though how to pay for these great
Public Works programs? How to fund these major
Internal Improvements as Abe Lincoln called them? Burning questions that have challenged economists time over.
In the case of the telecoms network, we must first renationalise the infrastructure unit, BT Openreach. Bring it back into public hands, so we can administer public help. It's a monopoly anyway, so it may as well be a public-monopoly. Minimally compensate BT shareholders; reimburse them no more than the flotation price (130p) they paid in 1984.
Then the incoming government needs to create a National Bank; one that will issue Public Credit for major infrastructure projects, just as China has been doing for the last four decades. Greatly expanding its public works programs of late, throughout the region, with its new
Asian Infrastructure Investment Bank. An economic policy that the wider BRICS group of nations wisely intends to follow suit, too. With their own New Development Bank issuing their own credit for infrastructure work across the BRICS nations (Brazil-Russia-India-China-S.Africa).
Fibre To Every Premises (FTEP) is a very worthy candidate for a Public Works project for Britain. All funded by Public Credit. That Credit secured on the future access fees for the new FTTP network. Those access fees guaranteed from the increase in productivity and production through the technological progress of having a fibre-only network with gigabit access speeds.
The new credit-issuing National Bank would operate under vastly different rules to the Bank of England. All but side-lining the latter with its discredited policy of "Quantitative Easing". Utterly wasted money which could and should have been invested directly into the physical economy, providing credit for new public infrastructure works. But, instead, that new money was blithely pumped, with no strings attached, into the bankrupt "Too Big To Fail" private banks. Since the end of Glass-Steagall rules on banking separation, those banks were then allowed to fritter that new money -- OUR money -- just as they had previously been doing -- by speculating in the casino-like derivatives trade. Only temporarily propping up the already bankrupt financial system. Merely postponing the next looming financial crisis.
Funding new infrastructure works through Public Credit issued by a National Bank has its roots in the United States. In fact it's called the
American System or
American School of Political Economy. A policy
eloquently described by
Alexander Hamilton. Hamilton was the very first Secretary of the U.S. Treasury; one of the founding fathers of the USA and an economic genius.
Throughout its history, when the USA has implemented Hamiltonian National Bank and Public Credit policies, it soon has found itself in conflict with the oligarchic monetarists of Old Europe; adherents of rabid free-market racketeers and imperialists like Adam Smith, Friedrich Hayek, Milton Friedman, Maynard Keynes and so on. Since the 1780s, it has been a ceaseless battle for those sincere economists working towards Hamiltonian Principles, formulating policy that does issue Public Credit for projects that benefit the Common Good, projects that do further the General Welfare of the People.
Here's the
Draft Legislation to restore a National Bank of the USA; it's a Bill of Congress that could soon be tweaked for the British Parliament. Where there's a will there's a way!
Cutting through the banal soundbites of this 2015 election season, what do Brits really want for Britain? A raft of major infrastructure works including a fully fibre-based telecoms network? Future-proofed for decades to come? Delivered by 2020? And costing a paltry £30bn? Funded entirely through Public Credit issued through a Hamiltonian-style National Bank?
Or, alternatively, do they want another £6 trillion (that's £6,000 billion) of new funny money, injected every few years into the collapsed Anglo-American financial system, through that absurd policy of "quantitative easing", just to keep the bankrupt City of London and Wall Street alive for a little while longer on life-support??
It's a no-brainer, isn't it?!
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Edited by deleted (Mon 04-May-15 04:02:56)