Feb 26 2009
The following letter was sent via USPS mail to President Obama this morning. Please read and add your comments below. If you wish to support our efforts to get this message to Congress and the President, please sign our petition. By signing, you are not endorsing every aspect, only asking that these ideas be considered as a creative solution to a difficult problem.
Feb 26 2009
These questions were asked in the popular forum Daily KOS
This plan is talking about funding the stimulus through bonds. They are just using different words.
Neal: The common thread (I was about to say bond!) between Bank CDs and Corporate or Municipal Bonds is that they are both classified as Debt Instruments. I am not sure why the semantics are the primary focus.
Feb 17 2009
A few people have asked me what I think of the Prosperity Mandate, so I spent a little while looking into it and thought I would give you my impressions directly.
Frankly, I am highly skeptical of the proposal. Though I haven’t read it in exhaustive detail (and don’t expect to be able to spend a lot of time on it), there are very many moving parts that would need to come together, and even if implemented, with no assurance they could be built quickly to scale. The complexity is actually very high. Too high, I believe. As a former entrepreneur and venture capitalist, I learned to be very leery of deals that require many key things to come together to work because there are too many potential points of failure (ie high risk that is hard to mitigate) and it is hard to truly evaluate all the interactions and how they will play out.
NEAL: I can’t imagine a National Monetary Policy that would get us out of our current economic crisis not being fairly ‘complicated with a lot of moving parts’. Seriously, can you? If so, I would like to see how.
Feb 07 2009
The current economic crisis is accelerating. It is time to take a hard look at what economic stimulus creates jobs and what does not!
The facts are alarming. Initial jobless claims last month rose to 626,000, a 26-year high, according to the Labor Department. The number of claims by people continuing to apply for unemployment benefits reached a new record of nearly 4.8 million, by the end of 2009 unemployment claimants could exceed 10 Million Americans.
Feb 04 2009
Given the current economic crisis, news of $20 Billion in bonuses to Wall Street executives is not only exasperating and incredibly outrageous; it is a clear sign of a deeper systemic problem in our economy and society. The core problem that needs to be addressed is not the amount of bailout funds, nor the programs that receive priority funding - important, yes, but not the core. No economic stimulus package will work until two things are provided for, CONFIDENCE and TRUST.
Now is the time to redirect ill gotten gains and corrupted economic and social practices into the public good. YES WE CAN!
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