On August 11, 2022, the Coalition for a National Infrastructure Bank sponsored a timely economic forum entitled, “They’re Wrong!!: Stop Larry Summers and Fed Chair Powell from Shutting Down the Economy.”

The forum’s economic experts included: Dr. Nomi Prins, author and former Wall Street Executive; Robert Hockett, Cornell University Professor of Law; Ellen Brown, Public Banking Institute Chair, and Alphecca Muttardy, former Senior Economist, International Monetary Fund.

The discussion addressed the economic turmoil gripping the nation. All of the participants landed a hard punch against former Clinton Treasury Secretary Larry Summers’ current proposal to fight inflation. Summers is demanding ever-increasing interest rates to cause 5-10% long term unemployment. Fed Chairman Powell has been following that path over the past several months. If that policy prevails, Summers would succeed in his planned recession, which would eliminate millions of jobs, causing enormous suffering for the population. 

As an alternative, each speaker argued that we need economic growth, not an enforced recession. One solution is to enact HR3339 and establish a National Infrastructure Bank, which would infuse $5 trillion into the economy, generating millions of new, high-wage jobs in infrastructure and production. Listen to this unique perspective, and find out what you are not hearing in the mainstream media. If you have not already, call your member of Congress and urge them to co-sponsor HR3339.

Speakers:

Alphecca Muttardy, former Senior Economist, International Monetary Fund, Fairfax

Professor Robert Hockett, Edward Cornell Professor of Law and Finance, Cornell University, New York, NY

Dr. Nomi Prins, Ph.D., Author and former Wall Street Executive, Los Angeles, Ca

Ellen Brown, Author, and National Chairman, Public Banking Institute, Los Angeles, Ca

Senator Liz Lovelett, Washington State Senate, Anacortes, Wa

Representative Lynne Williams, Maine House of Representatives, Bar Harbor, Me

James “Lou” Spencer, Vice-President Virginia State Building and Construction Council, Richmond, Va

Moderator: Julie Olsen, MBA, Small business owner, Chair Progressive Caucus, Alaska Democratic Party, Anchorage, Ak