Message to "Morning Joe's" Wall Street Bunch, "Stop Whining and Start Working!"

If you want to know what is going to save our banks? The answer is (Blood) in the form of equity and cash liquidity. Do you know what entity is the single entity responsible for creating equity and cash liquidity in our economic system, (Wall Street). Instead of "Wall Street" perpetrating the ruse that the Government via the Federal Treasury is responsible for creating the (Blood) that fuels or economy, "Wall Street" needs to own up to its entire responsibility for generating that life sustaining (Blood) in which every capitalistic system needs to operate. The bleeding of our economic body needs to be stopped and the only way to stop it is by the correct application of new regulations to "Wall Street", we did it then as a remedy to "The Great Depression", and there is most certainly and definitively no reason that it isn't needed now. No one would argue that a direct cause of this current crisis is the recent deregulation of measures largely implemented in "The Great Depression" which protected "Wall Street" from itself, not "Big Government" as "Wall Street" would have you believe. The Government saved "Wall Street" from itself by using the governments’ ability to legislate laws that regulate and limit but not stop Wall Streets' greatest original sin which is, "Unregulated, Unchecked, Greed." The Treasury’s role in this crisis can be likened to that of life sustaining blood transfusions in a surgery, that replaces the amount of blood lost and supplies the blood needed to keep the body economic operating but all the blood transfusions in the world won’t help if the (heart) represented by the economy itself refuses to pump. Instead of Wall Street refusing to make blood by desperately clinging to the failed economic models of the past; they should be creating and investing in the new economy, and building the new economic models that we need now and will need in the future. Wall Street instead of waiting for and whining about the Federal Treasury transfusions of blood that are designed to address other economic ailments/issues within the body they should be fulfilling their function in the body by making it there only priority to create as much life sustaining blood as possible for now and in the future in the only way it can by generating the blood that we are going to need to fuel "The New Green Economy"!

Note: Although Dylan Ratigan is wrong in his professional and philosophical bent toward "Wall Street" he is absolutely correct when on the broadcast of "Morning Joe," this morning he expressed his sentiments concerning the fact that too many of those that created or facilitated the growth of the financial crisis on the "Washington" side (in the House and Senate) are still there and those that caused, or knowingly allowed the problem to continue are the principle reason if not the only reason that no one is being held accountable for the results of these economically destructive actions, and furthermore these people are also the reason that meaningful change of our current system isn't being accomplished. How and why we got in this financial crisis will be the subject of a future blog.

Our Economy is Dying from Lack of Blood, it Needed the A.R.R.A. 2009 Transfusion to Stay Alive!

James Johnson
2301 NW 13th Street
Fort Lauderdale, FL 33311-5238
Email: fsmith5382@comcast.net
Phone:(954)797-5382

A Philosophical Explanation of and Solution for the American Economic Financial Crisis
(Possible Precursor to a Budget Proposal)

There are those that still believe that the approach used on the stimulus A.R.R.A. 2009 was wrong. They say that in their heart they believe that the bills concept was flawed and the entire concept of the bill was an unnecessary economic expenditure that rewards partisan democrats at the expense of our nations’ future economic stability and increases without purpose and lays all of our current and future debt responsibility on the backs of our children and grandchildren and maybe even our grandchildren’s’ children. They maintain that their political ideology tells them that this act had behind it only one motive which was to politically pander for future democratic votes. They believe as a rule that any "Government" spending is the enemy of all economic growth in general and that the federal government should not be spending any amount of money while we are in debt especially in those areas where the private economy is functioning. I don't believe that now anybody can make that the argument that our private economic base is functioning. They believe in their political and ideological principles and philosophy so strongly to the point where they have proposed deeper tax cuts, spending freezes and eliminating social safety net spending as the solution strategy we should be following in their alternative budget proposals. This approach of don’t add to the debt it will heal is exactly the wrong prescription to take at this time and it will kill this nation. When a worker is down and out and looking for employment you don’t stomp on them by denying them an increase in their unemployment benefits advocating that it may cause too much pain for employers that may not exist in the future who coincidentally are those same employers who aren’t providing sufficient jobs and job security now if they were those that are unemployed would be employed. Tried and failed ideology and failed economic policies cannot replenish what we have already lost. Talking about the illusions of the good old days does not make today or tomorrow better. The cold hard truth is that in our current economic state the only thing that gives us the opportunity to change the situation is our ability to stimulate our economic body with a transfusion of cold hard cash. Our economic body needs a transfusion and by denying a transfusion in the middle of an operation when it is needed you have not helped the patient you have sentenced the patient to death. It is disingenuous to advocate truthfully at this time that the reason you oppose spending is because it raises the debt on later generations composed of our children who will have to pay. News flash, this just in (You have already left over 1.3 trillion dollars in debt that you’re children WILL have to pay) The only way that later generations can escape paying this debt is if this generation composed of (You) will own up to it and find ways to pay off the debt that (you) created. Economic stagnation will never pay off any debt. Burying your head in ideology or the sand of your own misguided notions of political savvy will never pay off any debt. When your economy is under performing you have to find the ways to make the country over perform. You cannot make the country over perform if you are philosophically, politically and ideologically unwilling and opposed to giving it the basic necessary resources that it needs to survive. And if your goal is to truly create over performance in our economy for any sustainable period of time you must realize that at some point in time in the future you will have to provide additional and extra resources in order to maintain the desired short-term burst of economic over performance. The spending contained in A.R.R.A 2009 is required spending necessary to keep our economic body alive until we can figure out how to revise/create (whatever term you wish to use) our national economic model. To those that maintain no deficit spending is needed in this economy I ask you what ideas do you have up your sleeve that will generate 2.6 trillion dollars the amount needed to operate the country and pay off the debt when you are willing to contribute zero dollars toward supplying the basic needs necessary to keep our economic body alive. The stimulus will keep us alive temporarily but what is left is the responsibility of all of us to change our current economic model. When you have a debt accumulated over 8 years that is equivalent to 1.3 trillion dollars using only simple math like the kind that can be performed by a first grader you will need an economy to grow 1.3 trillion dollars. Equation: - (1) +1=0. Essentially whatever your debt is you need to double that amount to pay it off. Now how much do you have in reserve, what amount of money is there from other sources that is truly your assets and not financed or financeable debt, (credit. What is your projected income stream for the year,(forecasted tax revenue) which makes up the assets you have? The negative 1 represents the debt that is accumulated (on the books) but the positive 1 partially represents money that you have not yet accumulated or do not currently as part of your assets but money you hope that you will eventually have in the form of(projected future assets. The positive 1 also represents the real costs associated with running your government/operations etc… On the number line the distance between (negative)1.3 trillion and (positive)1.3 trillion has an absolute value of |2.6 trillion| dollars. It means that no less 2.6 trillion dollars is the amount needed to even begin to try and balance the United States economy and keep the United States Economy in its current state. But our economy in its current state is ill, our goal should be not to maintain this illness but in fact to heal it, make our economic body stronger, and make our mental economic policy intelligible, constructed on the foundation of proven economic principles, that is respected, sound and disciplined heal us now and keep us strong for generations to follow. At this point every Senator and House Representative that opposed A.R.R.A.2009 should be asking their economic advisors this question, (What can we do within the confines of this economy that will raise 2.6 trillion dollars at anytime within 4-10 years). They will all tell you there is nothing within the confines of “THIS ECONOMY” that can be done, because this economy is incapable of sustaining itself in this environment of our current ongoing financial system melt down, it is just simply too ill.
This is our financial analogy: A patient who was shot in the gut by a nasty bullet (the financial crisis)was picked up an ambulanceand rushed tothe E.R. The patient is criticlly injured and has lost a lot of blood. The wound was bandaged (T.A.R.P) and that bandage held everything together until the patient could get to the E.R. Now the patient is in the hands of a surgeon, because the patient lost a lot of blood he needs a transfusion (the A.R.R.A. 2009) just to keep him going until he is stabilized after he is stabilized we can and most prbably will give him something like a booster shot something like b12 (another stimulus that helps strengthen the integrity of the body). Well you might then say as a Senator or House Representative assume we can stabilized this patientand we are able to keep him going this way for two years or so well then what do we need to do…The answer will be then you can address the pneumonia(or the housing crisis) and then the Cancer(the banking crisis)the conditions we found out about when we received his full medical records. Also, keep in mind that this patients body is also malnourished it doesn’t have enough Social Security, Medicare, and Healthcare to sustain itself and operate effectively. To solve this issue immediately we can put the patient on an Intravenous drip to deliver nutrients quickly until the patient is brought back to normal levels but in the long run the patient is going to require nutrition education and some type of dietary change. (The equivalent of saying that the entire concept of those systems need to overhauled.) Even though when this patient came in his chances for survival were low and even now still this patient has a long hard road to go before we can consider him healthy. Like the American economy THIS PATIENT WILL SURVIVE…This Economy Will Survive …I firmly believe this despite the abject fears and predictions of failure, I believe this not based on intangible feelings of hope, I believe this based on the fact that we as a country have been through hard trying times and circumstances before and America as(Americans) we have always found a way to emerge triumphant, we did it then and we will do it now WE WILL, WE WILL, WE WILL, SURVIVE. Let there be no doubt that just because the economic challenges before us are hard it doesn’t mean that the economic challenges before us are impossible. We will not only survive we will become strong again, we will cause a re-evaluation to occur for all of those professional naysayers that said in various forms, “in my opinion this patient will not make it, he’s lost to much blood he has to many other simultaneous problems, his body is to severely weakened by gunshot trauma, the patient isn’t strong enough to handle the treatments that are going to be necessary and you wuld doo better to conserve resources for a person that has better chances for living, every time you solve one problem with this patient you find another, or those that see signs of secondary ailments that are terminal conditions in their own right refusing to treat the immediate life threatening condition of the patient now. “The one thing that all these professional naysayers neglected in their compilation of all the problems and ailments of this patient is the known solutions that resolve those problems …in fact when you attack each problem individually there are solutions that exist. It is easy to list the problems when you’re not doing the work required to solve them, it’s easy to stand on the sidelines and find fault, it’s easy to interrupt and say that in my opinion what you are doing is not going to work and has no chance for working…(notice there not interrupting to tell you what will work). The American people know that you cannot stand by in the operating room offering nothing but your negative opinions and then be shocked that you didn’t get an invitation into the operating room. There are no by-standers in any operating room and there should never be, unless they are acquiring the skills necessary to save the next patient and not just merely displaying their lack of diagnostic skills and surgical skills with the patient that is currently being operated on. But if all the professional naysayers would commit themselves to doing the actual work required in applying the known solutions then not all the answers but a good portion of the answers and solutions to the patients problems are known in that operating room and within that operating room the knowledge of those answers and solutions are there to be utilized in that moment. To paraphrase a great speaker who spoke at the "Democrat Convention of 2004", the problems that we are now facing are not liberal problems nor are they conservative problems they are American problems; the solutions that we must create are not just Republican solutions or Democratic Solutions they are American solutions, the challenges that we face now and tomorrow don’t effect this part of the body or that part of the body they affect everybody. The one thing that the naysayers forgot to ask about was whether or not this patient had a will to live, when they were busy listing his problems they did not ask the patient the essential question about his welfare which is do you want to live. When I ask the American people that question the answer I get is, “Yes, I want to live!” What threatened to kill this patient was when he entered the Emergency Room those who first attended to this patient hid the seriousness of the damage inflicted by the bullet by bandaging the injury, before they stopped the bleeding. They applied the wrong solution, who knows what the reason behind this error was? Was it that they didn’t know what to do to stop the bleeding and tried the best solution available to suppress blood loss, or did the realize that they were not going to be able to stop the bleeding but they could cover it up until he gets to the E.R. You see you’re not stopping the bleeding by bandaging deep internal wounds you are preventing the blood from rapidly escaping the injury but you are also hiding the injury. There is the possibility that the person who handled the patient first instead of using his intelligence to resolve the issue,“mind you this only a possibility” that the person who first handled the patient instead may have instead of using hs training to resolve the issue may have used his training to hide the issues by using tricks and gimmicks to hide the damage. Why does this possibility exist? The possibility exists because it was evidenced by the gimmicks and tricks that were placed in the previous budgets that were passed. This is why I and my administration have chosen that a major starting point of any economic recovery and the foundation of any budget that we produce will be sunlight and transparency starting with the removal of those budget gimmicks and tricks that disguised the true depth and nature of the injuries sustained by our economy over the last 8 years. You cannot treat conditions if you are unaware of those conditions.
It amazes me that when Wall Street was making money, there wasn’t anybody asking for or actively seeking government intervention, or any type of governmental guidance. In fact the opposite occurred government was largely seen as the problem by those on Wall Street and even in the most unregulated stock market perhaps since the creation of the stock market itself nearly 100% of all those involved with Wall Street held the position that in the market place there was still too much government regulation even during this period. Wall Street said that we are the foundation of aand the singular reason why capitalism works. Wall Street reminded us that it is in its’ own opinion is solely responsible for free-market capitalism, if Wall Street is the engine of the "American Economy" then the "Government" is sugar in the gas tank. Now the minute that Wall Street stops making money, and in the minute that Wall Street is clueless as to how to get this economy moving again, then all of sudden there cries from Wall Street are unanimous "We can’t get this economy moving again without clear guidance from the government". Really? It is a falsehood that Wall Street can’t function unless the government tells them how to function. It is a falsehood that Wall Street cannot plot an economic direction for our country until the government tells them when and how to do it. The function of Wall Street is to determine how our economy makes money now and how it will make money in the future. Wall Street does not need the government to perform this function it doesn’t ask government to perform this function now, it will not ask it to perform this function in the future and it never has asked government to perform this function in the past. Wall Street is the economic engine of our country because it supplies capital to fund investments in R and D, and technology, businesses, any and all capitalistic ventures in those industries that are making money and supply economic growth now and more importantly in the future. Wall Street will create our future economy. In order to survive the present situation Wall Street must create and in the process identify the elements contained our economic grab bag that will fund and provide our country’s economic growth right now and for tomorrow. What Wall Street should be doing now instead of waiting for remuneration and financial bailout for banking in the form of monetary policy management from the government which only keeps alive previous failed economic model they should be looking for and investing in the next economic model, and here’s a suggestion…create an economic model that is not based completely on oil but instead embrace this opportunity to now create a diversified economy that is based on the educational resourcefulness of our nation's workforce,one which utilizes the talent pool of researchers and developers, oone that integrates the immense knowledge of healthcare professionals and one that utilizes the skills of our manufacturers and builders and other workers are begging to contribute to our economy on a fair playing field and those who have consistently maintained the highest productivity in the world. Is there one industry that has the promise and viability to do for the economy in the second decade of the 21st millennium what the internet did for our economy in the 1990s’? How much more financial destruction and blind carnage will it take before Wall Street leaves behind the old order, old values, and the old defunct model of the "Oil Based" economic era and move us toward the future in being the first in the world to create and achieve a successful “Green Technology” based economic model. A green Economic model will make our economy sound and prosperous and it will move this world solidly into the Green Technology Era with America as the leader. I’m reminded of a quote from the movie "Field of Dreams" (and we all know that dreams are the stuff that Wall Street is made of), the quote was “If you build it they will come.” In my capacity as the newly authorized government official in fulfilling the new role that Wall Street has assigned to me as the Commander and Chief of Guidance Giving to Wall Street,I say to you today Wall Street if you invest in a Green Based Economy, the worlds’ money will come. As my #1 Wall Street guy Tim tells me, sustainable and consistently high profit margins are all the confidence that Wall Street wants and needs. Wall Street your job is to make it your function and highest priority to invest in Manufacturing, Infrastructure, Technology, Education, Healthcare, Research and Development and a National Green Technology Economic Model that will take us from the past and bring us into the future not because I asked you to not because the government and this nation needs you to but simply because as all of you know that in the course of the function of Wall Street in a free- market capitalist economic system it is your job. This is my guidance "Stop whining about the money you’ve lost, and start looking for and making the money that you can wherever you can in this economy. If there is no product then create the product, if there is no demand then create and stimulate the demand, for the good of yourselves and the prosperity of this nation do what Wall Street is supposed to do invest in and fund this Countries economic future. Thank you, and God bless America!