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investing at a cost of funding which is that of the State rather than that of the private sector;

As QE demonstrates, the cost of State development credit is zero. Once productive assets are complete, then development credit may be retired and recycled by refinancing.

Securitisation would be a conventional way of refinancing: I advocate direct investment in energy production by 'unitisation' - ie monetisation of energy.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sun Jul 11th, 2010 at 03:39:17 PM EST
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