On a recent trip to Pittsburgh, I visited the site of the collapsed Fern Hollow Bridge.
Pittsburgh is called the “City of Bridges.” It has more than 400 of them.
Unfortunately, many of them are in poor condition.
The Fern Hollow Bridge was built in 1970. It carried about 15,000 vehicles across it every single day. That’s roughly 5% of Pennsylvania’s daily traffic.
And on the morning of January 28, it collapsed.
Fortunately, nobody died. But 10 people were injured. And the collapse took out a natural gas pipeline running below it.
I took this photo during my recent visit there…
At the site of the collapsed Fern Hollow Bridge in Pittsburgh, Pennsylvania
Behind me, you can see a watchtower.
To the left of that, the men in hardhats and hi-vis vests are standing at the edge of where the bridge used to be. It is now a big, gaping pit.
Fern Hollow is just one example. There are 45,000 broken bridges across the country that need fixing.
And that’s not the full extent of the disrepair that plagues America. America’s infrastructure is crumbling. And President Biden knows it.
In fact, last November, he signed into law a $1.2 trillion spending program that aims to rebuild America. It’s called the Bipartisan Infrastructure Law.
And today, I’ll show you how that… and another historic transfer of wealth that’s coming down the tracks… will help you build your finances, too.
Once-in-a Generation Investment
I wasn’t the only person to visit the site of the collapsed Fern Hollow Bridge, by the way.
President Biden saw the destruction there first-hand when he visited just hours after it collapsed. Coincidentally, he had been scheduled to visit Pittsburgh that day to promote the infrastructure bill.
And what he saw seems to have made an impact. In his State of the Union address in March, he said:
We’re done talking about infrastructure weeks. We’re going to have an infrastructure decade.
The Bipartisan Infrastructure Law will form the basis of this decade of infrastructure investment. The White House described it as a “once-in-a-generation investment in our nation’s infrastructure and competitiveness.”
It includes $110 billion to repair 65,000 miles of highway and 1,500 bridges and supporting transformational projects…
…$66 billion in additional rail funding…
…$17 billion for investment in port infrastructure and waterways…
…and a $25 billion investment in airports.
Now, I don’t believe the government can execute any of this without a ton of red tape.
But I do think the allocation of $1.2 trillion is a good start. That’s because the private sector will go where the public money is. And we can profit when they do.
Biden’s Plan Goes Much Further Than Infrastructure
And there are two more key reasons why the new infrastructure law is bullish for investors who know where to look…
Yesterday, I told you how President Dwight “Ike” Eisenhower headed up the biggest engineering project in U.S. history.
That was the $25 billion Federal Aid Highway Act of 1956. This led to the construction of more than 40,000 miles of Interstate highways.
Eisenhower wanted America to have stronger infrastructure. And his policies laid the groundwork for U.S. economic growth over the decade that followed.
Biden’s infrastructure philosophy is similar. That’s why it got bipartisan support.
But if we look below the surface, the Bipartisan Infrastructure Law goes way beyond traditional infrastructure.
It also includes $7.5 billion for building a national network of 500,000 electric vehicle (EV) charging stations…
…$21 billion to address pollution…
…and a $65 billion investment in clean energy transmission and power grids…
So it will touch even more parts of the U.S. economy, providing even more opportunities for profit…
Make It in America
Now, earlier, I told you there’s a second reason why this infrastructure plan is crucial.
And that is, President Biden’s initiative to rebuild America, with American supplies.
As he put it in his State of the Union speech last month:
We will buy American to make sure everything from the deck of an aircraft carrier to the steel on highway guardrails are made in America.
This huge push to “Make It in America” points to unprecedented investment opportunities for savvy investors…
You see, the more infrastructure and innovation we have in America, the less we’ll have to rely on potentially unstable foreign supply chains and geopolitics.
This won’t erase global co-dependencies. The world is too connected for that to happen.
But if we can source and supply more raw materials and commodities in the U.S… we can gain more control over the price pressures that stem from international supply chain problems.
This is especially important during times of war or geopolitical conflict. And it’s vital in today’s distorted environment.
American companies that can capitalize on this momentum stand to profit.
This Is Just the Beginning
But Biden’s $1.2 trillion investment plan is really just the beginning.
In fact, we are on the brink of the greatest wealth transfer in the history of America. It’s a $150 trillion shift I call “The Great Distortion.”
And Americans who see what’s coming could multiply their retirement nest egg 10 times with a few key U.S. investments I have identified.
Just this morning, I unveiled a special briefing to tell you all about this $150 trillion wealth transfer.
To watch it, follow this link.
Editor, Inside Wall Street with Nomi Prins
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