Even using conservative measures, the Bush economy has underperformed. Mind you, I prefer measures like the real unemployment rates, various measures of economic equality, the median wage, and other Dirty Fucking Hippie statistics. But if you're the kind of person who thinks the economy is best described by the rise and fall of stock indices, well, it sucks to be you too. The Dark Wraith summarizes the markets' from January 22, 2001 through March 2, 2007:
The striking results were that real (that is, inflation-adjusted) returns on investment in standard, well-balanced index portfolios had been negative over the course of the Bush Administration. Total real return to a portfolio mirroring the Dow Jones Industrial Average was negative 1.10 percent, that for a portfolio mirroring the Standard & Poor's 500 was negative 10.79 percent, and that for a portfolio mirroring the NASDAQ Composite was negative 25.85 percent; the associated, respective annualized rates of returns were negative 0.18 percent, negative 1.85 percent, and negative 4.78 percent. The real returns accruing to those index portfolios have not improved since then, but the significance of those stunning, adverse real returns on equity investments in the American economy is deeper in the context of fiscal and monetary policies long pursued by the United States government.
One of the things I've noticed in the healthcare debate is that business, which again, is supposed to be so much more rational than us DFHs, is far too often blinded by ideology. Considering that many corporations are willing to externalize everything, why they are unwilling to do so with healthcare never ceases to amaze me (GM is actually an exception here). By the same token, Wall Street really hasn't appeared to turn against Republicans until very recently (and then only slightly) even though they are getting hammered (which means no end of year bonuses).
Oh well.
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... even though they are getting hammered (which means no end of year bonuses).
That would be a major change, at least for the CEOs.
The real returns accruing to those index portfolios have not improved since then, but the significance of those stunning, adverse real returns on equity investments in the American economy is deeper in the context of fiscal and monetary policies long pursued by the United States government
Mr. President;
I appeal to you, after several failed attempts to contact my congressman. The US economy is severely in need of leadership. I urge you to consider my idea for a stimulus plan and convey my sentiments to Washington and your friends and colleagues. I call this plan the "American Re-investment & Innovation Act".
The US economy requires stimulation for jobs creation as well as an investment in US ingenuity to remain competitive in the global economy. This requires a reinvestment in American Small business on a scale not seen before. This act requires that:
1.) The establishment of Technology incubator programs, administered by the Small Business Administration. The programs require the establishment of Grants (for equipment) and loans for operating capital to small businesses. The program is intended to lead to job creation which provides income to American families. This program requires some basic governing principals.
a.) Grants are available for the purchase of capital equipment. Grants range from $0-$1.5 million.
b.) For every $50,000 in grant money awarded, one job must be created for a period of not less than 18 months.
c.) No applicant may keep any grant money awarded. It must be spent in the same calendar year it is awarded.
d.) Loans are available for operating capital.
e.) Loans range from $1 - $1.5 million.
f.) Operating capital cannot be used for capital equipment purchases.
g.) For each $50,000 of loan money awarded, you must create 1 job for no less than 18 months.
h.) All recipients of grant and award monies offered by this program must make their books available to the SBA for the duration of their program involvement.
i.) No principal(s) of a grant or loan may take more than $90,000 in salary or bonuses out of the business operating under this program for the its duration and involvement.
j. No Principal may transfer funds to another business.
k.) No recipient may hold investments in other companies that may be considered inappropriate or in conflict with their involvement in this program.
l.) Bankruptcy filings shall require a forfeiture of all funds received under this program at any time during the first 24 months of receipt.
This program shall be administered by the Small business administration in conjunction with state and local entities involved in similar programs such as the Texas Emerging Technology Fund. This program is designed to start small companies in the range of 5-100 employees. It is also designed to grow small businesses who need access to capital to expand their business. The program should begin with $250 billion to lend and or grant.
This is how you create jobs fast!