Topic: Waterfront (20)

Dead Or Alive?  Schrödinger’s Public Banking Bill

Physicist Erwin Schrödinger devised a thought experiment described here:

Schrödinger's cat: a cat, a flask of poison, and a radioactive source are placed in a sealed box. If an internal monitor (e.g. Geiger counter) detects radioactivity (i.e. a single atom decaying), the flask is shattered, releasing the poison, which kills the cat. The Copenhagen interpretation of quantum mechanics implies that after a while, the cat is simultaneously alive and dead. Yet, when one looks in the box, one sees the cat either alive or dead, not both alive and dead. 

 

Like the cat in this experiment, SB 5188, the Public Financial Cooperative bill, did not see further action prior to the House concluding its business for this year's legislative session. So for the moment, SB 5188 has, like that cat, been placed in a virtual box leaving the bill in a situation that is unknown. Is it alive or dead? It appears to be dead, but at the beginning of the next legislative session the box will be opened for citizens to see. After all, much hard work was done over the past year to get this bill passed; but for now it remains in stasis, in a version of its own quantum uncertainty - dead/alive.  

On a brighter note, across the nation, public banking bills are being considered in many state legislatures as shown on the map above. For a more detailed list of public banking actions in various states,  there is a list at the Public Banking Institute site. An interesting piece on public banking in the U.S. was published in December 2020 on the site Project Censored (The News That Didn't Make The News). The article, entitled The Public Banking Revolution, had this to say: 

"In July 2019, The Hill reported on how public banking could help fund the Green New Deal, the policy proposal to address climate change and environmental deterioration. Skeptics have argued that strapped federal and state governments lack the financial resources to take on the Green New Deal’s multi-trillion-dollar costs. However, as Eric Heath explained, state banks, such as the BND  [Bank of North Dakota], “free the financial resources needed to fund vital investments in the planet’s future.” Public banks’ mission to serve the public interest could allow them “to extend financing to projects that other banks would not consider”—not because green investments are unprofitable, but because “their profits slowly accumulate and are widely shared across a community.” A September 2019 study, published by the Northeast-Midwest Institute, recommended the adoption of public banks by all Northeast and Midwestern states, not as “a panacea” but as one important move for “addressing critical investment gaps and realigning state resources with state interests.”

It has been over 100 years since the BND was created in the aftermath of an impasse between Democrats and Republicans (sound familiar?). So, the people created the Non-Partisan League which won the ND 1916 election and, in turn, established the BND which helped the farmers by allowing them to stay and work on the land after foreclosure and to buy their farms back after the Depression. ND also weathered the 2008 economic collapse by continuing to lend while the private banks shut their doors to lending for all intents and purposes.  Recent years have seen record profits with the BND all of which comes back to the residents of state.  You would think we would have had enough time already to get it right with public banks and quit shoveling our money into private coffers.  

About Dick Conoboy

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Dead Or Alive?  Schrödinger’s Public Banking Bill

By Dick ConoboyOn Apr 18, 2021

Physicist Erwin Schrödinger devised a thought experiment described here:Schrödinger's cat: a cat, a flask of poison, and a radioactive source are placed in a sealed box. If [...]

Cruising And Tourism: Wretched Excess

By Dick ConoboyOn Feb 10, 2021

A friend in Juneau, Alaska sent me this article, “Towns and businesses across Alaska brace for a second summer without cruise ship tourists” which states in part: “[Alaska] saw more [...]

4 comments, most recent 2 months ago

Fledgling Great Blue Herons Need Our Help

By Jamie K. DonaldsonOn Jul 02, 2020

Hurry down to the Post Point Great Blue Heron colony in the next few days to catch sight of a wondrous event: the giant baby herons are preparing to leave [...]

1 comment, most recent 9 months ago

Update on Protection for the Post Point Great Blue Heron Colony

By Jamie K. DonaldsonOn Mar 13, 2020

They’re baaaack! This year’s nesting season is underway at the Post Point Great Blue Heron colony in Fairhaven. With so little foliage on the alder trees right now, [...]

1 comment, most recent 1 year ago

Hearing on Public Banking Bill - January 28th

By Dick ConoboyOn Feb 04, 2020

On 28 January, there was a hearing on the creation of the Washington Investment Trust (SB 5995), before the WA State Senate Financial Institutions, Economic Development & Trade Committee (11:50 to 47:55 on the [...]

7 comments, most recent 1 year ago

We Have Failed to Adequately Protect Bellingham’s Great Blue Herons

By Jamie K. DonaldsonOn Jan 02, 2020

As an avid amateur bird watcher and conservationist, I was deeply alarmed, saddened and shamed by an article in the September 19, 2019 issue of Science magazine reporting that since 1970, three billion [...]

Yet Another Shiny Thing - Motorized Scooters

By Dick ConoboyOn Nov 23, 2019

Bellingham just loves shiny new things. The Infill Tool Kit to solve our housing woes. Detached Accessory Dwelling Units to provide affordable housing. The green painted bike lanes to assist [...]

3 comments, most recent 1 year ago

Sink, Swim, or Divorce – Options Narrow for our Relationship with Harcourt

By Alex McLeanOn Oct 23, 2019

First, we’ll want to peer inside the Granary Building and ponder the spectacle of the world’s loneliest yoga studio ensconced within the world’s emptiest building. Then we’[...]

18 comments, most recent 1 year ago

What’s Going on with the Herons, Council?

By Jamie K. DonaldsonOn Aug 31, 2019

We need to press Bellingham City Council members to step up their game to protect the Great Blue Heron colony at Post Point—once and for all. Heron advocates have [...]

1 comment, most recent 1 year ago

Protecting the Herons: An Overview

By John ServaisOn Aug 16, 2019

This overview article is meant to explain why Jamie K Donaldson’s efforts to protect the heron colony on the south side of Bellingham have been joined by other Bellingham [...]

Huge Victory toward Creation of the Post Point Great Blue Heron Reserve

By Jamie K. DonaldsonOn Jul 27, 2019

Thursday, Brooks Anderson, president of Fairhaven Neighbors, and I met with Mayor Kelli Linville in her office at City Hall. In that meeting, the mayor indicated that the City of [...]

3 comments, most recent 1 year ago

We Must Finish the Job and Create a Great Blue Heron Reserve at Post Point

By Jamie K. DonaldsonOn Jul 26, 2019

An abridged version of this article appeared in the July 24 issue of the Cascadia Weekly. The City of Bellingham (COB) has committed to protecting the Great Blue Heron colony at [...]

1 comment, most recent 1 year ago

Of Broken Roads and Re-invented Wheels

By Tip JohnsonOn Jan 18, 2019

I recently ran into Harry Skinner, long-time architect of some local reknown, now an octogenarian. His decades of design and planning experience have left him hard pressed to feel the [...]

14 comments, most recent 2 years ago

MERCURY VICTIMS OF WHATCOM COUNTY

By Tip JohnsonOn Apr 09, 2018

Editor’s Note: Mercury Victims of Whatcom County is an anonymous, loose-knit organization that credits itself with having delivered the final blow that prompted Georgia-Pacific to end its Bellingham operations. [...]

6 comments, most recent 3 years ago

Conservative Whatcom candidates distance themselves from GOP

By Ralph SchwartzOn Aug 21, 2017

​Four conservative candidates for elected office in Whatcom County have gotten together to chart a third way through local politics—one that doesn’t involve Republicans or Democrats. The four—[...]

1 comment, most recent 3 years ago

Public Banks Are the Answer

By Dick ConoboyOn Feb 27, 2017

The Case for Public Banking Public banks are an effective way to use public funds for the good of communities, much like public utilities, instead of for the profit of [...]

4 comments, most recent 4 years ago

Hiyu ferry for Lummi Island service - Explained

By Guest WriterOn Jul 12, 2016

By Jim Dickinson. I would like to thank Tip for writing such an excellent and realistic article.  (See "Lummi Island Drawbridge" of June 25 by Tip Johnson.) As the Chair [...]

6 comments, most recent 4 years ago

Greenways may reverse heron colony buffer purchase this evening

By John ServaisOn Jun 03, 2016

Updated late night, June 2   I went to the Greenways Advisory Committee meeting at 7 pm this evening, based on the agenda posted online at the city website. That agenda now [...]

10 comments, most recent 4 years ago

We need to protect our Great Blue Heron colony

By John ServaisOn May 31, 2016

The Greenways Advisory Committee voted unanimously in early May to provide partial funding from their available free funds to purchase the platted but unbuilt house sites bordering the Great Blue [...]

5 comments, most recent 4 years ago

Proposed over-water walkway is dead

By John ServaisOn May 21, 2016

It can now be reliably reported that the long planned over-water walkway, running from the north end of Boulevard Park to the Cornwall Avenue landfill, has been cancelled by [...]

11 comments, most recent 4 years ago