TheRealNews on Feb 26, 2017
Michael Hudson, author of the newly released J is for Junk Economics, says the media and academia use well-crafted euphemisms to conceal how the economy really works.
This being the age of public relations, the genteel term “public-private partnership” is used instead of corporate plunder. A “partnership” such deals may be, but it isn’t the public who gets the benefits.
To stimulate the economy, create new jobs and generate new GDP requires an injection of new money. Borrowing from the bond markets or off-balance-sheet in public/private partnerships won’t do it. If Congress won’t issue money directly, it should borrow from banks, which create money on their books when they make loans.