1863 - 1947
Economics professors – as of tomorrow lectures will be delivered into your universities via videoconferencing screens from Asia for only 10% of your salaries.
How are you going to feed your families?
- PREFACE -
Say you've been asked to urgently raise and distribute some extraordinary sum of money with the view of putting America back to productive work. If allowed a clean slate of possibilities, how would you turn that request into a socially optimal outcome?
You should start by identifying the long-term causes that had culminated in that nation's current woes…Almost certainly, you would have found two crippling distortions of that most American of ideals – freedom, begging for your attention and demanding immediate redress…Day after day…
Negligently promoted by its political, economic, academic and media elites, those distortions are largely responsible for the predicament America now finds itself in -
DISTORTION #1 - GLOBALIZATION
Surprise? How could the sourcing of America 's products or services have anything to do with a meltdown of its financial and property sectors?
Well, for over two centuries, we've been living in the Industrial Era and no country has showered as much talent and energy upon it as America had done since the late 19 th century – a magnificent record of accomplishments culminating in its 1969 landing on the Moon.
What had historically underpinned that success? A strong manufacturing sector… That's right, it was the manufacturing – the measure of a nation's collective brainpower.
Alas, it's been down, down, down ever since – right down to the present- day shambles…
Why? By frittering away its manufacturing sector, America 's globalization ideologues had condemned that nation's hitherto hard-working, proud and prosperous middle class to a life of knockabout, menial-jobs insecurity -
Hence, with their opportunity to earn a decent industrial wage dwindling for decades, it was inescapable those people would be seeking refuge in ever more desperate commercial contrivances -
And once this sad quest overheats the property market, it can quickly lead to a nation-wide fiscal catastrophe. What's the ending here?
Consider some two industrialized countries A and B… What could you say about them if told only that their medium-skill industrial workers are paid say, $19 per hour? Without further ado, you can assume A and B are some two Western democracies…
Are they to trade freely with one another? Certainly – free trading between those countries wouldn't unfairly affect the industrial workers earning that $19 per hour... Besides, globalization ideologues will tell you that economic growth follows free trade like night follows day -
But hold it…Imagine that their products and services are already so alike that there's no tangible benefit in sourcing anything from country A rather then B… Since free trading between them is still theoretically possible but becomes pointless – are those countries now worse-off as a result?
Anyhow, let's just assume that the products of technological, commercial and cultural talents flowing liberally between A and B did brighten-up the lives of both peoples… Does it mean they've now got more money in the bank then they would otherwise have had?
That's precisely what the political, economic, academic and media elites of both countries would claim and their populations learn to blindly accept as one generation after another contentedly retires into old age…
The result? Once intuitively associated with the ideals of freedom that the post 1945 West had been founded on, “Free trade means prosperity” would naturally become its modern economic dogma. So far, so good…
Now take some other countries with industrial capacities… What could you say about them if told only that their comparable workforces earn $1.90 per hour – i.e. wages 90% below the Western level?
You'd be right in surmising that until a few decades ago, those countries were still marooned in the millennia-old Era of Agriculture. The West then came along and helped them catch up with the current two centuries of the Industrial Era…
On the face of it, a commendable development – for how can such peoples be begrudged a chance to rise from their backwardness and poverty?
But what if behind it there's merely a plethora of industrial sweatshops in which Western opportunists pay $1.90 per hour to gain advantage over the competitors in their own countries…Isn't it obvious those competitors then have to follow suit simply to stay in business?
So, a 90% commercial distortion now heads back for the Western shores like a modern Bubonic Plague… Who is to bear its brunt?
Certainly, it won't be the Western political, economic, academic and media elites still praising it with their “Free trade means prosperity” sloganeering, for they're far too removed from its devastating effects.
No, it's the medium-skill Western workers now forced into competition with glorified industrial labor camps in which their job can be done just as well for 10 % of their wages.
What is the rationale here? Are Western workers now to move ten times as fast, or become ten times smarter, to keep the jobs that feed their families?
Hey, time to loosen up…how about making a short movie? A kind of tribute to those surrealist French films that were such a hit in the 1950's…
Let's entitle it “The American Workers' Glorious Revenge” – guaranteed to intrigue the economic traitors cheerfully trading American jobs to overseas labor camps right this minute... Next, a surrealist script is in order -
SCENE 1. Bing W. Ivorytower III, the P.T. Barnum Distinguished Professor of Global Prosperity is delivering a lecture at the famous Rustbelt College in Poverty City, PA -
“Never before, ladies and gentlemen, has so much prosperity been seen so often in so many places around the globe, America included… When had it all begun? Think back to Watt's 1770 steam engine that propelled Western Civilization into the Industrial Era... Not since the ancients gave us the wind and water mills had humanity experienced such a quantum leap…”
But as Professor Ivorytower pauses for breath, the lecture hall's doors fly open followed by a rowdy mob of blue-collar workers. One wildly climbs up the gold-embossed podium -
“You sons of bitches have been screwing our fine college by 200 bucks per lecture… all of you” he stabs a finger at Prof. Ivorytower's chest, “Gee, that money could have bought us a bunch of new gyms by now!”
“Security, quick!” Bing Ivorytower whispers into his cell phone but it cuts out. The students? They're beside themselves… “We r 2 gt nu gym”
SCENE 2. “Let's rock and roll!” jives another blue-collar worker, excitedly adjusting a dish antenna skywards. Soon, “Global Prosperity 101” appears on a large plasma monitor and the mob cheers. The worker rubs his hands with glee. “Hallo, are you receiving us… wherever… Timbuktu ?” Laughter all around…
“Yes sir, your $14.99 package includes full video and audio interactivity” an ingratiating, Hindi-accented voice replies eagerly, “My name is Bernard and I'm a Professor of Global Prosperity. Allow me the honor of welcoming you to Global Lectures LLC of Houston , Texas – an academic advancement and leadership organization fully accredited in the United States of America and 183 other countries…”
“See, bum… just fifteen bucks per lecture, all legit!” the first worker glares around but Ivorytower is nowhere to be found.
SCENE 3. “Could we hear a bit of your lecture…?” a student addresses the screen tentatively.
“Certainly!” As small crowd quickly gathers around the monitor, the image upon it slips on a shiny academic gown, bows to its faraway audience with well-rehearsed, smarmy decorum and begins the lecture -
“Never before, ladies and gentlemen, has so much prosperity been seen so often in so many places around the globe, America included… When had it all begun? Think back to Watt's 1770 steam engine that propelled Western Civilization into the Industrial Ere... Not since the ancients gave us the wind and water mills had humanity experienced such a quantum leap…”
SCENE 4. Years later, a gaunt man awkwardly wheels a steaming, stainless steel barrel through the sleet of 5 th Avenue , New York , NY -
“Hot wash, hot wash… get your dog washed now by Professor Ivorytower, small dogs 10 bucks, large 15…hot wash, hot wash… a lecture on global prosperity 2 bucks…hot wash, hot wash…”
What's the moral of this allegory? Globalization would have never raised its head in America had its potential for unfairness applied equally at all levels of society – from the depths of that country's manufacturing sector right up to the lofty heights occupied by its Establishment… How so?
No members of America's political elite would have supported globalization if they personally feared losing own jobs to those working from abroad for 90% less pay…Plainly no such competition from abroad is possible, so they're permanently off the hook.
No members of America's economic elites earning – whatever, would have embraced globalization if they personally feared losing own jobs to those working from abroad for 90% less pay…Ditto.
No members of America's academic and media elites would have endorsed globalization if they personally feared losing own jobs to those working from abroad for 90% less pay…Ditto.
Thus, while implicated in decimating millions of manufacturing jobs over the last few decades, America 's Establishment would hardly have lost any of its own positions to globalization… No, when it comes to getting unfairly kicked, these folks' asses are never on a line.
Now surely, the millions of America 's medium-skill industrial workers have a vote at the ballot box. Why can't they put an end to foreign competition that's not only impossibly lopsided but which the powerful, the wealthy and the well connected of their country are themselves never subjected to?
Those millions of workers don't have the numbers…They're outnumbered by the blowflies buzzing over America's collective psyche – each equating the ideals of the First Amendment with the freedom of anybody to compete against American labor no matter how outrageously out of balance are the respective costs of living -
“If you are for the freedom of speech, how can you possibly be against the freedom of trade?” How indeed…
Sadly, this is what happens when well-meaning people manipulate noble sentiments without having to personally suffer the consequences.
“CONGRESS SHALL MAKE NO LAW…”
“Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of people to peaceably assemble, and to petition the Government for the redress of grievances”
Here it is, humanity's blueprint for a civilized existence… What is its stroke of genius? There're a couple of them, but to appreciate their significance you must first reflect on some key developments in human history -
Imagine that a dollar coin you barely recall losing six months earlier has sprouted in your garden into an astonishing shrub now covered with some fifty of them… Yep, dozens of sparkling coins are hanging off the twigs just waiting to be picked and spent on that latest DVD.
Could this possibly work again? You re-plant the coins and six moths later there's almost $2 500 growing in your garden. You re-plant all of them and six months later you're about $125 000 better off. And so on and on…
That's exactly what happened some ten millennia ago with the invention of grains-based Agriculture…
The nomadic tribes of hunter-gatherers hitherto living hand-to-mouth could from now on build cities, raise armies and eventually develop the numbers, writing and money necessary to administer the unprecedented wealth now at their disposal. Civilization has arrived!
But who owned that wealth…did it belong to those who had created it with the sweat of their toil? Nope, not in this world…
“We own it because we're better then the rest of you low life!” – the owners of the world's oldest bluff game, “The Aristocracy”, would proclaim to their societies…
“We own it because we represent your God on this Earth!” – the owners of the world's second oldest bluff game, “The Religion”, would echo in turn…
Eventually, the two groups would accommodate each other at the expense of their societies in a vicious, parasitic cabal that endured until 1789, when the guillotines of the French Revolution had brought it to a long-deserved end…
Three years later, the separation of political governance from religion was pointedly underlined in the opening “… no law respecting an establishment of religion…” clause of the First Amendment.
To examine the First Amendment's other stroke of genius, you need to visit the Agora of Athens more then two and a half millennia ago…
Picture two shouting crowds – the cream of Athenian aristocracy, debating the bleak state of some military campaign… After the able orators hired by both sides fail to make an impact, the throngs resort to the only other thing they know – hurling abuse… Better then beating each other up, though the confrontation seems to be inexorably heading in that direction -
Then, an idea – arguably the greatest social idea that linguistic life in any Universe may ever conceive of, crystallizes in some clear-thinking mind -
“Citizens, our disagreements cannot be resolved by words alone – we need numbers… Let's the supporters of opposing arguments be counted so an argument that attracts the greater number can be considered binding upon all of us” Democracy is born!
What a splendid social innovation! Whether it's in Greece, or elsewhere in this or any other Universe, the same rule applies…Linguistic life expresses opposing arguments about some subject A, their respective supporters are counted and a numerical ratio – say 45% / 55%, emerges as indisputably as the difference between night and day. No more quarreling…
Well, at least not until the next time, for here is the beauty of the process -
Just because some specific approach to subject A had carried the day with 55% approval doesn't mean it stands for an immutable truth – it could fail miserably when put into effect -
Let's say this particular approach has been implemented and further down the track everyone's curious whether it had worked or not…what's next?
Same thing…They'll assemble again, put forward the opposing arguments, count their respective supporters and a numerical ratio – perhaps this time 65% / 35% against, tells them that their prior approach to subject A may not have been such a great idea after all.
What if all approaches to all possible subjects A, B, C, D, E, F, G…etc…that can ever be debated amongst the users of language were duly resolved by the process just described?
Most members of such societies would have come as close to living moral, happy and productive life as is theoretically possible.
Surprise, surprise – no need for supposedly supernatural Beings to hand down their codes of behavior to allegedly ignorant societies…
No sir, after generations of trial and error, these + 50% / - 50% resolutions of conflicting arguments will inevitably hit a society's bull's eye of morality, happiness and prosperity on their own merit. That's the universal beauty of democracy.
Now no matter where in Reality it is implemented, the system of converting conflicting arguments into numerical proportions may still lead to a bogus, even harmful outcome…
Why so? There was no right to express those arguments freely – a natural social deficiency that the clause “…or abridging the freedom of speech, or of the press…” had addressed in a momentous precedent of 1792.
So, in the final analysis it all comes down it freedom – a tricky business as you shall see.
“Dr. Freedom's Cure-all Potion”
How could a nation that gave humanity the First Amendment and had stood so steadfastly by its precepts, descend into its present-day morass?
A glimpse at America 's role in the world since the early 1940's -
America could have ignored Europe and Nazism during the Second World War – it was securely ensconced away from the Old World and its festering, centuries-old enmities. But it acted…
At a cost of hundreds of thousands dead and wounded it did what its ideals of freedom dictated it must. It had freed Western Europe , whose hundreds of millions of people have been living in peace and prosperity ever since.
During the Cold War, at a risk of nuclear annihilation America stared down an early accomplice of Nazism – the Soviet Union, and the pitiful multitudes of Eastern Europe became free as a result.
Look at the modern children of America – Japan , Germany …why are they amongst the most advanced and affluent countries in the world? Lucky to have lost a war with America , who then helped its hitherto vile enemy in the way its ideals of freedom dictated it must.
That's very praiseworthy, except we have a problem – America 's political, economic, academic and media elites had since concluded that the ideals of freedom must possess the powers of a magical, cure-all potion...
Then, in one of the most bizarre follies to be foisted upon a freedom-loving country, they began thoughtlessly prescribing that would-be remedy to all and sundry -
“Are America 's markets feeling a bit low lately? Give them ten spoonfuls of freedom!” Millions of people still don't know how to clean up the ensuing financial diarrhoea…
“Want our free enterprise system to be more efficient? Ten more spoonfuls is all it takes!” Never mind that more thieves are now free to masquerade as businessmen – just look at the improved efficiency of their thieving…
“Globalization? Make it twenty spoonfuls so we can all enjoy a wall-size flat screen television even in our woodsheds…”
A dying manufacturing sector, countless jobs lost to foreign labor camps and dire erosion of America 's strategic effectiveness attest to the efficacy of that miracle treatment.
So, when morning after morning there's no work and you see millions of your countrymen in the same hopeless situation, how many spoonfuls of “Dr. Freedom's Cure-all Potion” are going to solve your problems?
What's the end game here? By knowingly acting in a way that had not only weakened their country but strengthened its likely enemies – the enemies of freedom, America's political, economic, academic and media elites were over the last few decades committing an act of negligence, if not betrayal...
However, you can be sure that the culprits will end their days playing golf while America 's likely enemies grin inscrutably – still hardly believing their luck.
DISTORTION #2 – GAMING
OK, back to the original question…If asked to urgently raise and distribute some extraordinary sum of money with the view of putting America back to productive work, how would you turn that request into a socially optimal outcome?
We already know how you should distribute the money – by first protecting your investment in the future of American industrial workers. Tariffs? Sure, American labor has been played for a sucker long enough.
As for the Western tree traders too delicate to stomach protectionism, let them address this query…”How would you like to compete against foreign free traders who can globalize your country just as effectively from abroad for only 10% of your own pretty salaries?”
Now we're down to the second part of your task – how are you to raise your extraordinary sum of money? Say, a few trillion…
Are there supertankers full of Arab petrodollars steaming over the horizon? Should the Chinese again look under their mattresses? Why doesn't Uncle Sam simply crank out some more greenbacks, eh…?
It is time for Americans to realize they're currently sitting on a gargantuan financial surplus accumulated over the past two centuries of the Industrial Era. There's no shortage of capital in that country – the only problem is its obscene, institutionalized misallocation -
For generations now, America 's financial inheritance had fallen under the sway of gambling barons unable to understand the true nature of their own activities. No, with perfect honesty they'll describe themselves as bankers, fund managers, financiers, stockbrokers, investors, etc…
So, how do those deluded people support their patrician lifestyles? They'll check the latest rumors on various aspects of America's economy then bet a bag of gambling chips on whatever might have been lucky in the past…If the bet makes money, they'll grab a cut…
Remarkably – even if it loses, a patented “Agreement amongst thieves” still guarantees them an artificially bloated paycheck.
The result? The wealth the gambling barons claim to create can only come from other gambling barons' losses – no wealth whatsoever is being added to that country's economy. As for adding jobs… wha…wha…what's…that?
What about those gambling chips? By assiduously pretending to be part of America 's economy, gambling barons had managed to institutionalize their chips as that country's parallel, privately administered currency…
And as long as they keep the wheels of fortune spinning, the illusory worth of that de-facto currency allows everybody to have a ball – with gambling barons almost choking on the outlandish size of their “Agreement amongst thieves” bonuses.
But once that illusion dissipates, so do all of its creations… Why? Because they were only the product of flavor-of-the-day betting hunches rather then middle-term assessments of a real, tangible economy.
Look at the most recent example of the destruction such a bogus currency can inflict upon the millions of families, then entire nations -
Having squirreled the “Agreement amongst thieves” bonuses away to their palaces, gambling barons had saddled America with a mountain of chips of unknowable value – nobody can figure out whether a chip with face value of a million is worth one million dollars or half of that…What's worse, those conflicting valuations had since paralyzed the healthy part of that country's economy.
The outcome? At first in America , then across the world, gambling barons had laid waste to countless decent, hard-working lives unwittingly caught up in their pseudo-economic shenanigans…
“So, how could anyone even dream of putting America back to work amidst this kind of economic kafuffle?” you may well now ask.
Don't worry, what you're seeing is the fouled tip of a financial iceberg…The bulk of it – the trillions of dollars America's gambling barons bet weekly on the currency, commodity, stock, bond and futures movement, still remains in good working order.
How to re-direct that colossus of potentially productive capital into sound, employment-creating industrial endeavors – that's the question.
Here's an idea! Why not try appealing to gambling barons' softer side with a patriotic entreaty -
”Gentlemen, the wealth you control today was overwhelmingly born of the hard work, thrift and perseverance going back to our Founding Fathers…
As such, isn't it proper that money left in trust to the present generation be used for the benefit of all Americans – not just the few who make a living at the betting tables?”
Prepare for shrieks of uncontrollable laughter…Maybe, as they flail around in paroxysms of mirth, some gambling barons may suffer a coronary – that is the only plus possible in such a scenario.
Hence, if America 's private gambling club is ever to relinquish its control over that country's financial inheritance, you'll have to try something with a bit more oomph… Say, a good old Yankee cattle whip?
It's time to crack that whip over America 's fabulous financial empires with a Transaction Tax that instantly separates the rogues from the healthy part of the herd. What's the magic trick?
All transactions involve an asset being bought and held. Hence, the timing of that asset's eventual sale tells you whether the original intent was just a quick gaming wager, or – as it happens all too rarely, an investment…
Asset sold within 1 year – tax 5%
Asset sold in the 2 nd year– tax 4%
Asset sold in the 3 rd year – tax 3%
Asset sold in the 4 th year – tax 2%
Asset sold in the 5 th year – tax 1%
Asset sold after 5 years – no tax
Consider the first entry of the above schedule; “Asset sold within 1 year – tax 5%”
Any self-respecting gambling baron looking at this might think you've just come from Mars – these guys can buy and sell assets worth billions in one minute, never mind a year…But how long would this last if they're charged 5% per every gaming transaction?
Still, they aren't being hit so you can raise your trillions – you don't want a single dollar. “Don't gamble on American industry – invest in it!” is the only message you want buzzing in their heads from now on.
Next, the bottom entry “Asset sold after 5 years – no tax” – what's that all about?
Plainly not for the sophisticated addicts who thousand times a week try to make a financial killing at the other people's risk…
No, that is for the mugs who before making a transaction do due diligence, seek expert counsel, scratch their head, ask others for an opinion, inspect the business and look carefully at the competition …Then – shock, horror, provide employment for American families.
Can anything positive be said about America 's gambling barons? After all, they go to work like everyone else, have families like everyone else…Let's hear some of their typical self-assessment -
“Free enterprise has to be based on the true value of its assets! Give us a currency pretending to be strong and we'll soon see how strong it is! This goes for everything else – commodities, stocks, bonds or futures… What's the alternative to free market? Socialism? Chaos?” And so on…
But these guardians of freedom also run a casino that sucks-in America 's potentially productive surplus capital into endless betting on the next twist of economic chance… Red light!
Suppose this casino now loses 99% of its turnover by having to operate in accordance with the Transaction Tax schedule – how can it be expected to survive, let alone function in any viable way?
First, you would find that its capacity for launching new ventures remains undiminished. Refreshingly, instead of being mere vehicles for daily stock manipulations, those ventures would now embody a coherent, middle term business strategy.
Above all, once disentangled from gaming, America 's surplus capital could finally be allocated towards the task of reviving its industries and creating productive jobs. At long last, a yet another American War of Independence would have been won…
How would the political and economic elites react to the Transaction Tax, especially as it must apply to all American capital and assets irrespective where the actual transaction takes place?
“This will kill America !” the Wall Street would explode, “A helpless babe abandoned to the foreign wolves – that's what we'll become!”
“We are not here to surrender America 's freedoms! Never!” the Capitol Hill would echo obsequiously, as its sponsors expect it to…
“If this thing ever becomes law we all better move to Mexico !” the lobbyists would add, as they're paid to… Who could blame them – a man's got to do what a man's got to do… And some will.
So, with a healthy dose of protectionism safeguarding your investment in the future of America's industrial workers and a Transaction Tax that opens up the vast reservoirs of that country's hitherto misallocated capital, you're now ready to put America back to productive work. What's next?
THE MONEY, THE MONEY…
Next you must not only raise your few trillion dollars but also ensure that it doesn't fall prey to the scams that America's political and economic elites had by now perfected to a Nobel Prize winning level -
So, a systemic problem knocks on your door – you can neither trust those enterprising characters nor move forward without them.
Take heart, for you can still carry out your plan with the help of humanity's best friend – democracy.
DEMOCRACY AS THE MEANS OFALLOCATING
NATIONAL DEVELOPMENT FUNDS
Let us refer to such funds the People's Bonds or P-Bonds and forget about all the history's calamities prefixed with “the People's”… What's the theory behind it?
Imagine a novel kind of fiscal animal – potentially, it's either a swap buffalo or a deficit turkey… Actually, at the moment of its birth that animal gargles away “P-e-o-p-l-e-s-b-o-n-d-s” turkey-like.
In due course, those P-Bonds are to be swapped for the capital flushed out of America's gaming establishments by the Transaction Tax…But this can only take place indirectly -
You'll first have to invest your few trillion dollars of P-Bonds in productive, employment-creating industrial projects…
Those projects are then to be auctioned-off into America 's financial sector still watchfully clinging onto its now largely dormant, ex-gaming capital.
Should those auctions return 100% of your initial P-Bonds value, the result is a swap buffalo – no new money had been printed. If they return less, 60% for example, the balance remains a deficit turkey. What if they brought only 10%? The next generation would sure be singing a song about you.
Then again, if your P-Bonds are invested in industrial winners that really put America back on its feet, such projects could arguably be auctioned at a premium. So how do you pick those winners? By trusting the good sense of the American people.
The legislative branch of the United States Government, the only body that can authorize the funds you need, consists of 435 Representatives plus 100 Senators -
Your first step would be to ask that legislative branch to issue P-Bonds for $5 billion per member and nominally assign those funds to each member for further reference. That's 435 + 100 times 5 = $2.675 trillion…
Next, you should invite America 's entire legislative branch to revisit their districts and help evaluate the merit of investing the P-Bonds in particular industrial projects. No doubt they would be thrilled to participate…
Who is ultimately to make the investment decisions? The people through their democratic vote – remember these are the People's Bonds.
All systems A-OK…First, you're circumventing America 's still constipated banking system. Second, by placing investment decisions in the hands of American people, you've protected your P-Bonds from the malign influence of political Judases, economic shysters and assorted riff-raff… Now, you're now ready for that most important step of all – a death-defying lift-off!
Let's go to California – an auspicious location to carry out your plan since it rarely rains over there. The 53 Congressmen and 2 Senators of that state are about to be allocated P-Bonds worth $275 billion -
Your next step is key… You must now get California 's federal legislators to join their sworn political enemies – the runners-up in the last election, in a provisional 110 members California Investment Evaluation Board.
Through a televised debate, its members are then to demonstrate not only their grasp of investment, but also of the long-term hopes and aspirations of their electorate -
After 3 months, that electorate is to vote on which 55 members are to make up the final composition of California Investment Evaluation Board.
What's its role? To publicly trash out within the next 3 months the pros and cons of every legitimate investment proposal and by a 2 / 3 majority make recommendations to the voters of California .
CALIFORNIA , YOUR DAY HAS COME…
It's been a bruising six months for California …What else would you expect when so many competing political and commercial agendas crash into one another in full public gaze?
Just like in their equivalents across America, some members of California Investment Evaluation Board had seen their careers meteorically rise while others plummeted…Many were able seize the moment, adroitly scrutinizing each investment proposal and making its likely advantages and drawbacks clear to the enthralled television audiences. This shall stand them in good stead in the future…
The others? They stuck to the old, well-tried ways – repeating past political routines until the observant electorate had found their true allegiances too transparent to tolerate…After 3 months, there was no sign of them.
A few suicides amongst the political heavies caught on tape trying to sell California down the river, several clumsily organized Chinese fifth-column protests, some warehouses belonging to well-known importers burnt down in suspicious circumstances… Well, that's the gist of it…
There had been a welcome, if unexpected development in your scheme of getting America back to work – it's not the Investment Evaluation Boards of each state who are nowadays the main buzz in town…
Not that the Boards had done a bad job, quite the contrary… Once the dead wood was removed from their ranks after the first 3 months, most Boards did perform their tasks well and with truly bipartisan dedication –
Here in California for example, not only has the Board recommended that its citizens vote on 76 industrial projects worth a cool $238 billion, but also took pains to explain how many full and part-time jobs each project is likely to create within the next 5 years…
What's more, seeing the private sector ready to barge in with a $180 billion play, the Board duly advised the voters on the pros and cons of accepting that money early. Top effort.
But what has really gripped America is the stunning agility with which its former villains – the gambling barons, had adapted to the new conditions…
Strictly speaking, this shouldn't have come as a shock – you're still looking at some of that country's cleverest operators. They just needed pointing in the right direction…
“Jobs, jobs, jobs and more jobs!” That's the new mantra upon which most are trying to rebuild their still largely demolished careers.
The more entrepreneurial had even gone as far as to ask that their bonuses be linked to the number of jobs they create…Extraordinary!
“Give me a million dollar bonus and protection from labor camps' imports, and I'll give you a million hours of genuine industrial jobs” seems to be the going rate amongst the current masters of a brand new Universe.
And who would have thought these folks had it in them…In fact members of various Investment Evaluation Boards already refer to it with a wry smile as the world's fastest ever rehabilitation of occupational evil.
Consider the “Back to the Fifties” alliance comprising some two hundred former gambling barons who live around Los Angeles and claim to control $1.3 trillion in local, investment-ready liquid assets…Let's pay a quick visit to their boisterous, last minute rally just across the park -
“Yes, we can… yes, we can!” This should sound familiar – except that the original had fizzed out because there was no money behind it. And without money, all you'll ever get is “Wish we could…wish we could…”
“Yes we can, my Californian brothers and sisters!” booms a large, foreign accented man standing atop a gleaming 1957 Corvette…
“We can be the strong country we once were, a country where good paying jobs are again as plentiful as the stars on a fine California night. Countless millions of them… Can we create those jobs by re-industrializing the United States of America …? “Yes… we… can!!!… Yes…we…can!!!…”
California's polling stations are to open in a couple of hours and judging by record enrolment amongst the family breadwinners, that cool breeze of the Sierras must by now be electric with millions of fervent expectations…
What are they counting on? The jobs an average American can be proud of.