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What would have worked would have been instead of giving them the taxpayers money the US government should have just bought the companies. That way the record profits they made would have been the taxpayers, instead, it flowed to those banks customers in the hedge and private fund world, domestic and international.
Can you help answer these questions from other members on NexusFi?
"You can't relabel re-distribution as nation building."
Paulson, Bush, and the Goldman-Government team orchestrated the largest redistribution in history of mankind, and called it new world order building.
I prefer Ron Paul and the Libertarians, but the reality of the situation is that Romney is a new world order banker and Obama, I don't really know what he is, but he is anti-banker, so, for me, that's where I'm at. Reign these people in and have them give something back and pay their due.
Y.. and then sold it back into the private sector but the big wigs will flip out.. They will give plenty of reasons why that's not a good idea real or propaganda.. At least those big bonuses would have been controlled.. The rationale given was "those big bonuses are necessary to keep talent." during recessionary times.. sure.. I've worked in corporate and when a leader is replaced, the next one up the ranks will do just fine... The key is the integrity and empathy of the leader that makes the biggest difference.. Most people close to the top ranks are all pretty talented and easily replace each other..
I have old friends in those high positions at the bulge bracket banks. Hell, I went to the Deutche Bank Christmas party in Hong Kong one year... and let me tell ya, they aint that talented...
The problem, of course, is that most of that extra spending to buy stuff would flow to the manufacturers of the stuff - largely outside of the US. So it would be a bump for their hiring, not so much the U.S.
And once the Kool-Aid runs out, it'd be back to the same old same old...
Same goes for tax cuts - they've got to fix the leak in the plumbing so enough of the water flows back to refill the well, or all you're going to get is parched earth.
Also, government can help with employment, but it's over the long-term. Inventions in computing, the internet (DARPA), decoding the human genome (picked up and done better by Craig Venter later at Celera - but started by the gov't) are examples of government "intervention" that build foundations that private companies later exploit for money (and that creates jobs/wealth).
Really risky stuff is what gov't is supposed to invest in, because it has no pressure to produce immediate profits. Once the profit looks like it is there, then the "Captains of Industry" can summon their "Animal Spirits" and start grabbing with both hands.
- US companies are only allowed to be sold to US citizens..
- US Real Estate are only allowed to be sold to US citizens..
- Some tarifs, but nothing crazy to halt cheaper/better products from entering the country.. lots of revenue there..
- US citizens given preference in hiring for skilled labors
- US companies that gives education re-imbursements can be additionally supplemented by government to get needed skills
- Those on social programs are required to do some weekly volunteer work to prevent them from gaming the system
- Strict crime laws like Singapore
- Regulate prostitution and drugs to bring pimps and dealers out of business..
- Providing centers with food and shelter for the homeless is cheap and wont bring our deficits out of control.. If you're on food stamp for an extended time and you're not handicapped, you're required to go eat at those food centers.. If you have any pride, that should motivate you to go look for work..
