The Prosperity Mandate: A Sustainable Economic Recovery Plan

Does it seem odd that as a nation, we need to turn to a notorious bank robber (or at least the quote attributed to him) to find the answer and key to a sustainable economic recovery?

When asked why he robs banks, Willie Sutton, famed bank robber, replied, “Well, that is where the money is!”  This quote has become a shorthand reference applied from engineering to business models.  The message is to first look for the OBVIOUS solution, and worry about more complex ones later.

Where is the money? In the United States there is currently (approximately) $4 Trillion sitting in Money Market Funds and another $65+ Trillion in diverse forms of Net Worth.   Perhaps it is time for the Obama Administration to take advice from Willie Sutton - Tap into where the money is! Continue Reading »

Tags: current, Economic Crisis, economic recovery plan, economic stimulus, Fund America, job creation, new monetary policy

From an email exchange with TPM founder Neal Katz:

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.

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Tags: Economic Crisis, economic stimulus, Fund America, National Fiscal Policy, Prosperity Mandate, recovery plan

Is it possible for one person with an original and unique idea change national fiscal policy and create a sustainable and renewable Economic Recovery Plan?  Humbly, I sure hope so.  I had better explain further, I hold no college degree; I am not formally trained in economic theory, and am not a captain of industry.  And yet, the following ideas are realistic and pragmatic, make economic and common sense, and need national attention.

The goal is to infuse $1 Trillion into the economy without $1 direct government spending. Based on creating PAY BACK scenarios, the Fund America economic recovery plan has the person, group, or community that receives a benefit PAY for it.  Financial responsibility instills self reliance, self respect and self empowerment.

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Tags: Economic Crisis, Economic Recovery, Fund America, National Fiscal Policy, Sustainable Economy