Wednesday, February 11, 2009

Not Back to Work Just Yet

Click here for an abomination!

Tax cuts don't save jobs. They don't stimulate the economy. They help very few people. 

Here's what will stimulate the economy: Job creation and spending. Spend on rebuilding the transportive infrastructure, spend on rebuilding the electric grid, spend on developing new sources of energy and then build the structures required for new sources of energy. Public works projects are rarely permanent, I agree. If the rest of the economy isn't fixed, then spending on these structures will only be a temporary band-aid to longer-term problem. So fix the rest of the economy as well. Stop dicking around with banks and TARP money and fix the housing market, which is the root of the problem. Use taxpayer money to buy up bad assets and then reward the taxpayers when the value returns. Buy the assets on the cheap and then sell them back to banks at below-fair market value price. It's a win-win. The banks can immediately mark up the value of the assets and use the capital, the taxpayers still make a profit, and the system gets restored. Too simple? Of course it is. I'm not an economist. I realize that no one knows the value of the assets. T.S. The government is the fucking government. Tell banks how much you'll pay for them and then say "If you don't like these prices, go nuts. Try to sell them to someone else for more." 

Also, use bailout money to help start up new small businesses, a.k.a. venture-capital investments. Instead of owing banks money, businesses' can own the government money at lower rates. If they fail, well then fuck, at least we tried. (See this article for clarification on what I'm talking about.

Am I wrong about this? Probably. But I don't care. Because things are already in the toilet anyway. Might as well pull out all the stops and write a check for $5 trillion in spending. Blow it all at once. If we don't get it right this time, Canada can have the Northern States and Mexico can take the Southern States. We can become the United States of Canada. At least that hockey might make a come-back!

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