An absolutely meaningless picture from my US tour – reflections on the water in the Willamette river _ or perhaps not all that meaningless.
Tonight, I had the good fortune to listen to an interview with Felix Rohatyn. I know nothing about him. For all I know, he could be against everything I believe in. But in this interview everything he says rings true to me. All the things that I have emotionally felt, but never thought I had the right – or the backup – to express, he does say. With good backup. E.g. that accounting systems don’t differentiate between short term and long term investments. And that investments in infrastructure are treated as expenditure, not investments.
Yet, for example, I have learnt that Sweden’s uprising economically had everything to do with the building of the railways. Which were financed through the realease of bonds, mostly in Belgium and the Netherlands. And when, about thirty years later, they were repaid, they were worth about a quarter. Both the currency and the interest had gone Sweden’s way. Our fate, and our fortune, is random.
In this interview, finally someone says what I have tried to say. And he says it so clearly, wisely and with such authority.
Our infrastructure should be shared. And treated as an investment. It is NOT an expenditure. Please, dear Auckland consider this.
Good night from Phoenix