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Monday, November 19, 2012

I Once Worked For A Guy Who Said, "Don't Just Complain, Tell Me What To Do About It"! 

So in honor of that guy, here is (again) what we should be doing instead of the idiotic QE (which will eventually give us out-of-control-inflation).

Also note that since this rant was originally written, two more people in Indiana died from a pipeline failure.

How To End The Great Recession In Six Months, Or Less!!
1)     At least 75% of the 45,000 miles of our crown jewel, the Interstate Highway System is desperately in need of repair.
2)     The Society of Engineers says we have 10,000 bridges in need of major repair or replacement.
3)     We have hundreds of thousands of miles of oil (and petroleum products) pipelines in need of replacement or repair.
4)     We have hundreds of thousands miles of water pipelines that are up to 150 years old that need replacement or repair.
5) The deterioration of our infrastructure is costing hundreds of millions of dollars in delayed shipping, excess inventories, wear and tear of equipment, etc., and people are dying (California, Colorado, Maryland, Minnesota, etc.)
6) We will HAVE to make these repairs sooner or later.  No Escape!!
Issue Infrastructure Repair Bonds.  Interest costs are 1% or less.  The costs will NEVER be lower.
Make the money available to individual cities and state highway departments directly on a first come, first serve basis.  No Federal Government filters, allocations, etc.
The only conditions are that the money must be spent on the above projects and must begin in six months or less.  In addition, each proposal must include an estimate of how many jobs are directly produced, and a progress report at six, twelve and twenty-four months to qualify for progress payments.  Absolutely no new projects are allowed, i.e., No Mob Museums,
Bridges To Nowhere, High Speed Trains To Nowhere, etc.
Reasons Why?
1)     Reduce unemployment payments
2)     Increase tax revenues
3)     Increase revenues for small businesses that create 70% + new jobs
4)     Each dollar spent has a 1.5% multiplier
5)     Restore infrastructure and improve safety of citizens
6)     Reduce distribution costs and improve GDP
7)  Restore international competitiveness
Reasons Why Not?
     1) Elephant clowns

Now go back to Sept. 8, 2012 and take a good look at that graph!!

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