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Showing posts from November, 2014

Ideology and Investment - NYTimes.com

For once, a post that agrees with Paul Krugman. He makes an argument I have advanced on this blog and I agree with his general premise that now is the ideal time for some infrastructure spending.

See: Ideology and Investment - NYTimes.com
There’s an obvious policy response to this situation: public investment. We have huge infrastructure needs, especially in water and transportation, and the federal government can borrow incredibly cheaply — in fact, interest rates on inflation-protected bonds have been negative much of the time (they’re currently just 0.4 percent). So borrowing to build roads, repair sewers and more seems like a no-brainer. . I've posted an identical call for (sane and limited) infrastructure spending. We have billions of dollars in deferred maintenance that must be done. Now is the ideal time, with low bond rates and an anemic economy.

I'm not calling for or supporting reckless spendthrift approaches to investment. I don't like waste (high speed rail in …