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This is very thorough advice. I would change one thing though: It seemed like, correct me if I’m wrong, that Sam advised that investors take a “wait and see” stance -If it works in the US with the government’s help, then other countries will follow suit, and there will be more -tried and true ETF opportunities (foreign mainly) at that time. That might be wise and conservative investing advice, but if our country is going to get out of this humongous hole that our new president along with the X and Y generations inherited, It is going to take the sweat of the working Americans who will be shoveling asphalt and and jack-hammering concrete.
It is also going to take the capital of those Americans with any remaining assets left to invest. “Makers of Things” as President Obama called us yesterday, can’t front a week’s labor when we are two months behind on the mortgage as it is! American Makers of Things have the will and have the skill. If our wealthy, fellow Americans, do not bet on our abilities -to build our way out of this; there will be no paychecks to get the the trucks rolling and the mortgages paid up.
And by paycheck - I mean upwards of $40.00 per hour. Those of us who joined the “trickle down economics” workforce in the mid-eighties have suffered all of our working lives under this bogus concept of fair enterprise that depends solely on the good character of the wealthy to impel them to pay their workers an honest day’s wage for an honest day’s work. Now our kids our even worse off. It’s time to turn that upside down.
It’s time that corporate America stops exploiting it’s workforce, and instead, starts investing in them. There is a huge opportunity to do either right now. Don’t forget - the property you just purchased for pennies on a dollar…Was mine until it was foreclosed on. I built it. I will be willing to work for you to prepare this house to put back on the market - and make you a profit. I’m broke and underemployed, so you can exploit me. Offer me $10.00 per hour, I’ll crawl around scrubbing the floors. I’ve got a family to feed. Eight hours of work - I can bring home some Pizzas, and buy a new pair of boots (with nothing left over to pay rent and utilities.)
Or maybe you’re trying to exploit the wrong guy. Maybe if you try to figuratively kick me while I’m down…I’ll literally throw you down the stairs -I built. I didn’t lay a hand on him officer, he tripped. Then, who knows, maybe me and my underemployed kids will come throw rocks through the windows. Finally, we’ll tell all of our underemployed contractor friends what a douche-bag you are, and you’re windows will remain broken until you are ready to be a responsible business person, treat a working person with respect, and pay a non-offensive wage.
It’s time to regulate. Not everyone can be counted on to be fair and honest. Those who can be trusted are many times, powerlessly working for the cheaters, because cheaters OFTEN win. It’s time to regulate those who keep our credit histories, and pay our wages. Who keeps the records on the lenders, employers and investors? Where can I look up their FICO score? Am I about to apply to work at a company that keeps wage-slaves while it pays it’s CEO ten million a year? As president Obama said yesterday: “It’s time to transact business in the light.”
80 billion dollars isn’t even one paycheck for every working American. All that is going to do is get things started. It won’t go anywhere until investors take some risk, and couple their capital with these taxpayer funds, and pay Makers of Things well to rebuild an economy that they, and the entire world will benefit from. Otherwise, no paychecks for us, no profits for you. Just keep sitting on your money. Keep stashing it in 0% interest T-Bills, instead of municipal bonds. Watch it rot away along with the roads and bridges you drive your Jag on. When your luxury auto starts falling apart, offer some Fixer of Things a pizza to do the repairs, and maybe he will throw you down the stairs.
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