In this episode Michael Fox is joined by Chris Temple of the National Investor for a discussion focused on several key economic issues facing the incoming Trump administration and potential solutions, particularly regarding infrastructure funding and the proposed National Infrastructure Bank.

Economic Policy Shift

Chris emphasized the need for a change in economic policy, prioritizing people’s needs over corporate profits. He highlighted the importance of self-sufficiency in energy and critical materials and criticized the existing banking framework and reliance on conventional economic policies. Both Chris and Michael agreed on the need to address the infrastructure deficit, noting bipartisan support for this issue.

Infrastructure Funding System

The current infrastructure funding system in the United States was identified as inefficient, with the Federal Government’s control over funding decisions often leading to delays. Chris proposed the idea of an Infrastructure Bank as a more efficient and accountable way to fund projects, giving decision-making power to local governments and the private sector.

National Infrastructure Bank Proposal

Chris introduced the concept of a National Infrastructure Bank, which would:

• Operate as a conventional bank focused on funding public projects, including national security initiatives

• Not add to the national debt, operating off-budget and generating returns for shareholders

• Initially obtain capital from holders of Treasury securities

• Lend to state or local governments at lower interest rates

• Make funding decisions based on business cases rather than partisanship • Potentially address the country’s infrastructure needs and debt issues more effectively than current methods

Benefits and Potential Impact

The proposed National Infrastructure Bank could:

• Finance projects faster than the federal budgetary process

• Broaden the tax base by creating better-paying jobs

• Reduce local governments’ debt burden

• Prioritize projects that provide actual employment and economic growth

• Help reduce the Federal deficit

• Speed up project funding by removing the need for Congressional approval Challenges and Considerations

• The bank’s ability to bundle loans and sell them to other lenders is unclear

• Initial focus may be on public projects, with potential to expand to private companies

• Parameters for funding would likely prioritize projects generating economic returns

Conclusion

Chris and Michael agreed that the National Infrastructure Bank could be a transformative solution to address the country’s infrastructure needs and manage the national debt more efficiently. They emphasized that this concept has broad bipartisan support and has been embraced by academics, economists, and former World Bank and IMF personnel.

National Infrastructure Bank Coalition 

The National Investor