{"id":200424,"date":"2021-04-13T19:16:00","date_gmt":"2021-04-14T00:16:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/04\/13\/this-is-a-very-good-thing\/"},"modified":"2021-04-13T19:16:00","modified_gmt":"2021-04-14T00:16:00","slug":"this-is-a-very-good-thing","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/04\/13\/this-is-a-very-good-thing\/","title":{"rendered":"This is a Very Good Thing"},"content":{"rendered":"

<\/a>Did you know that investors are pissed off because Biden’s infrastructure plans do not include any public-private partnerships<\/a>? (PPPs)<\/p>\n

They want to see public private partnerships, where the private participants are guaranteed a profit, and then borrow money at inflated rates from Private Equity, and ding the taxpayers for decades for user fees for doing basically nothing at all. <\/p>\n

I feel pretty good about this:<\/p>\n

Finance executives are lamenting being frozen out of plans to bolster America\u2019s dilapidated infrastructure, as the Biden administration pushes a tax-and-spend approach<\/a> to building projects.<\/p>\n

President Joe Biden\u2019s \u201cAmerican jobs plan\u201d, unveiled last month, calls for $2tn of investment in highways, electrical grids and other basic infrastructure.<\/p>\n

At the same time, the White House put forward corporate tax reforms<\/a> that it said would generate enough money to pay for the investment spree within 15 years.<\/p>\n

That has disappointed some investors and asset managers who once expected public-private partnerships would be a lucrative financing opportunity.<\/p>\n

\u201cI would love to put money into infrastructure projects,\u201d said Christopher Ailman, chief investment officer of Calstrs, the retirement system that pays the pensions of California teachers. <\/p>\n

The $290bn fund has held sporadic talks with the US Treasury about investing in infrastructure projects since the Obama administration, Ailman said. \u201cA lot of long-term investors\u2009.\u2009.\u2009.\u2009look at infrastructure as being a source of stable long-term returns,\u201d he said.<\/span><\/p><\/blockquote>\n

They are upset that they won’t have the opportunity to loot the taxpayers to buy another yacht. F%$# them with Cheney’s Dick.<\/p>\n

\u2026\u2026\u2026<\/p>\n

While Biden\u2019s infrastructure proposal revives some of the unfulfilled ambitions of his predecessor, it does not envisage a role for the private investors who had once expected to be in the driving seat. <\/p>\n

\u201cThis is a very traditional \u2018the government is spending on infrastructure\u2019 plan,\u201d said a lobbyist who regularly represents private equity firms in Congress. <\/span><\/p><\/blockquote>\n

Just kill yourself, you bloody parasite, it will be the best thing you ever do for society. <\/p>\n

Some of the executives say that PPPs can, “Impose commercial discipline and generate savings elsewhere,” only they never<\/b> have, and they have to pay much higher interest rates on what they borrow than the government does, which means that they can’t.<\/p>\n

Instead they are efforts to get money today at the cost of tomorrow, as Richie Daley’s incredibly corrupt parking meter deal in Chicago<\/a> shows.<\/p>\n

There never are any savings, just guaranteed profits with some of the vigorish skimmed off the top and returned to the politicians as bribes and campaign donations.<\/p>\n

https:\/\/twitter.com\/DanielaGabor\/status\/1381665203524415488<\/a><\/p>\n

see full thwitter thread  <\/p>\n","protected":false},"excerpt":{"rendered":"

Did you know that investors are pissed off because Biden’s infrastructure plans do not include any public-private partnerships? (PPPs) They want to see public private partnerships, where the private participants are guaranteed a profit, and then borrow money at inflated rates from Private Equity, and ding the taxpayers for decades for user fees for doing …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1038,1004,1283,1003,983],"tags":[],"class_list":["post-200424","post","type-post","status-publish","format-standard","hentry","category-budget","category-finance","category-infrastructure","category-philosophy","category-taxes"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200424"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=200424"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200424\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=200424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=200424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=200424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}