Chris

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thepirateinthecity
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Chris
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Business > It's the Economy Stupid
 

It's the Economy Stupid

Hello all. First a quick update. I am still in a hotel in Austin. There is still no power at my house. I wish it would come back on because I am tiring of the hotel life. I guess it has been 11 days since the storm.

I am writing today about something I have mentioned before in other blogs on other sites. basically, it is about the economy. For years, people have thought the economy was great because the amount of money changing hands was making investors lots of money. As many of you see now, it was all smoke and mirrors. We have become a country of consumers and not producers. The US became a power because of its industrial might. We build nothing any more. To solve the problem, we need to bring our manufacturing jobs back home. A product needs to be built and sold here. No matter how you look at it, outsourcing jobs sends money out of the country.

There is no substance any longer. I see the government about to put $700,000,000,000 into a bailout plan so the banks will not fail. Ok, good, the banks need to stay solvent. However, the problem is really not with the banks, it is with the homeowners. They will lose the homes, the banks will get them and ultimately own them, thus making them richer.

The government, if it wants to fix this problem, needs to bailout, or invest in, companies building factories and plants here in the US. Give tax breaks to businesses so it is profitable to invest here again. We have become soft and lazy. We are a service economy. The smoke and mirrors must stop. We have to get back to the industrial giant that put fear into the Japanese Admiral Yamamoto.

If we dont keep high paying jobs here, the difference between rich and poor will continue to grow. We need a strong middle class. If we do not have one, we will be top heavy. And if you no anything about stability, if you are top heavy and have no rock solid foundation, you will eventually collapse.

posted on Sept 24, 2008 5:32 PM ()

Comments:

I wept when I saw it happening, because I knew where it was going to lead us. Forget about bailing out the banks. Bail out the little people. The bankers will just take golden parachutes and leave the country.We all need to remember what Chris wrote come election day.
comment by thestephymore on Sept 25, 2008 11:13 PM ()
Maybe we need to make you the Secretary of the Treasury. Oh, wait! You are making too much sense!
AJ
comment by lunarhunk on Sept 25, 2008 12:17 PM ()
Chris,as you can see a very good post.
Makes a lot of sense to me.
Keep the industry in this country.
Hope that the hotel will end soon.
comment by fredo on Sept 25, 2008 10:53 AM ()
comment by panthurdreams on Sept 25, 2008 10:19 AM ()
I just had lunch with one of my vendors today and he lives in Houston too. He also said the power was still out at his house and some places were devestated. I thought of you. Hope you are doing good.
comment by meranda on Sept 25, 2008 9:14 AM ()
Sounds all true. When banks own houses, it will make them rich you say... But what to do when no-one wants to buy the houses cause there is no money for it. The houses will become worth less then they are now. SO that also will decrease the capital of banks.

Sorry to hear you still arent able to move into your house. Hope things will be ok soon for you. Just hope you are ok (despite living in a hotel).
comment by itsjustme on Sept 25, 2008 1:17 AM ()
I agree...best of luck!
comment by strider333 on Sept 24, 2008 10:02 PM ()
Remember what you wrote on November 4th, Chris. Your vote will count.
comment by jondude on Sept 24, 2008 8:38 PM ()
Hope you get back to your house ... soon.
comment by stiva on Sept 24, 2008 6:44 PM ()
Good post Chris. When it was shifting to a service economy, I didn't see how that would work. People deal with goods and services in their lives. We only sell/buy other countries goods.
comment by stiva on Sept 24, 2008 6:43 PM ()
I couldn't agree more! excellant blog!
comment by elkhound on Sept 24, 2008 5:54 PM ()

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