Topic: Lummi Nation (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 [...]

State Public Banking (Cooperative) Bill - Update on House Actions

By Dick ConoboyOn Mar 28, 2021

{ Udpate 4/10/2021: E2SSB 5188 the public cooperative (banking bill), now in the Rules Committee, can use a push by a legislator by requesting that it be brought out of Rules and [...]

8 comments, most recent 1 week ago

‘Public Banking Bill’ Voted Out Of Ways and Means Committee

By Dick ConoboyOn Mar 02, 2021

[This article is intended as an update to several previous articles listed below that should be read for the complete picture.]A second substitute bill (SSB5188) on a Washington State [...]

1 comment, most recent 1 month ago

Public Banking Bill Gets A Warmer Reception In Olympia

By Dick ConoboyOn Jan 30, 2021

A hearing was held on “An act relating to the creation of the Washington state public bank” (SB5188) before the Business, Financial Services & Trade Committee of the Washington State [...]

New Public Banking Bill Introduced in Olympia - Hearing On January 28th

By Dick ConoboyOn Jan 21, 2021

While several public banking bills are cooking in the legislative ovens of the U. S. Congress, a new bill (SB5188) to establish a Washington State Public Bank has been introduced [...]

5 comments, most recent 2 months ago

The Fix is in the BAG

By Jon HumphreyOn Jan 07, 2021

Well, the fix is almost official. Sadly, Public Works Director Eric Johnston, with the help of council-member Michael Lilliquist, did exactly what we expected them to do: They created an [...]

14 comments, most recent 3 months ago

False Fast Speeds, Bad Connections, & Broken Promises

By Jon HumphreyOn Nov 24, 2020

I recently received the Speedtest.net data on a part of the Bellingham school network, pictured above. You should note up front that the schools block all independent testing of [...]

Just Dying To See The Family?

By Dick ConoboyOn Nov 20, 2020

The answer is, “Don’t!” That holiday smooch might be the kiss of death. The perfect storm is about to play out, not only in Whatcom County but nationwide. As [...]

Monitoring the COVID-19 Surge Peak in Whatcom County - Update 3

By David A. SwansonOn Apr 17, 2020

On March 30th, Northwest Citizen published a baseline COVID-19 surge peak forecast I did for Whatcom County. The forecast used March 28th as its launch point. It showed 6,151 total confirmed [...]

4 comments, most recent 1 year ago

COVID-19 Hospitalizations in Whatcom County

By David A. SwansonOn Apr 05, 2020

[Updated 4/6/2020: From a friend in Kennewick, I discovered that a long-time hospital in Pasco (Franklin County) is still open, contrary to the data from the American Hospital Directory I found [...]

13 comments, most recent 1 year ago

Tough choice for Democrats: Who will challenge Ericksen?

By Ralph SchwartzOn May 01, 2018

Democrats think they can do it. If only they can motivate voters to turn in their ballots in numbers comparable to a presidential election year, then Democrats say they can [...]

7 comments, most recent 2 years ago

Racism Is Still With Us In Whatcom County

By John ServaisOn Jan 15, 2018

Timothy Ballew, II, is one of three leading applicants for the vacant Whatcom County Council seat, along with Natalie McClendon and Seth Fleetwood. He is a leader of the Lummi [...]

9 comments, most recent 3 years ago

Count ‘em: 29 people seek vacancy on Whatcom County Council

By Ralph SchwartzOn Dec 20, 2017

I feel I need to walk back the statement in my last article about the importance of participating in democracy by stepping up to take public office. The Whatcom County [...]

1 comment, most recent 3 years ago

CNN: Salmon Emergency, Tacoma Detention Center and the Arch of Healing

By John ServaisOn Sep 07, 2017

Cascadia News Now is a weekly, hour-long civics program hosted by local journalists Stephanie Kountorous, Dave Willingham and Tim Johnson of the Cascadia Weekly, airing Wednesdays at 5:30 p.m. Sundays [...]

‘Upstream’ book review: any hope for salmon?

By Ralph SchwartzOn Jul 20, 2017

​If you’re reading this article, chances are “Upstream: Searching for Wild Salmon, from River to Table” by Langdon Cook (Ballantine, $27) won’t teach you too much you don’t [...]

1 comment, most recent 3 years ago

Swift Creek, loaded with asbestos and heavy metals, is getting out of control

By Ralph SchwartzOn Dec 05, 2016

The side of Sumas Mountain, laden with asbestos and soil-killing heavy metals, is sliding slowly but steadily into Swift Creek and then into the farmlands of north Whatcom County and—[...]

Forbidden Topics: Conquest, Slavery, and Race

By David CampOn Nov 29, 2016

The accusation of racism, the labeling as racist, have been much used of late in America against political enemies. No doubt in many cases the charge is accurate, for it [...]

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

Lummi Island Drawbridge

By Tip JohnsonOn Jun 25, 2016

A drawbridge these days is usually a symbol of mutual public cooperation.  They rise to let ships pass and close so surface transportation can resume.  In days past, [...]

6 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