I do have a plan which is loaded to the brink with exactly what is missing in his plans. His opponent has supplied even less detailed information about his own plans. None of what I read on either side impressed me as pointedly and without reservation, working.
My plan has exactly what is missing from the plans of the presidential candidates, and cannot fail to work. Why cannot it cannot fail to work? Because it has worked in the past and I have been assured it will work now. In fact, it is impossible for it to fail, unless it is sabotaged by one or the other side, or both.
How do I know that? Because I do not fail when I create/or pass on from my Source, impeccable, infallible plans and the plan I present here, is, indeed, both impeccable and infallible. Judge for yourself, here it is below or for an on site view, click here.
Why Raising IEOSD Will Create New Jobs!
By Professor Emeritus Peter Bagnolo
Low interest rates are helping only one group, the richest people in America, and the greedy 1%.
If the low IQ Austerity mongers gets all that it wishes; ending Collective Bargaining, cuts in pensions, Medicare, Social Security, laying-off millions of people, what will happen? Well, it cuts past and into the bone of commerce. The discretionary income of approximately 80 – 90mmillion people will be all but annihilated. The companies whom they support by buying goods and services will be diminished and those companies they were patronizing by buying goods and services will go bankrupt and added to the present 31 million out of work and underemployed will more than double making the depression of 1929 look like a lark in the park.
I have spoken to a number of entrepreneurs, all of who say the same thing; if they had a stronger income from savings, they would invest or spend it on a variety of things. That money would make a needed entry onto the market place.
One of them was very specific. He has $750,000 in savings, which should generate at 5% IEOSD - (Interest Earned On Savings Deposits) about $37,500 a year. From 2008-2014.5, with his present rate of near zero IEOSD, he will lose about $425,000 during this six-year drought of solid . That discretionary income would have allowed him and millions of other Americans to expand their businesses’ or purchase autos, new homes or renovate and/or furnish the offices, or homes and hire new employees etc.. Stuck at near zero interest IEOSD many people simply cannot expand their businesses update their homes and HVAC to save energy, and thus are stymied in or their business and their private lives.
There is right now $7.77 trillions in savings in US banks at a near zero rate of IEOSD yielding to depositors next to nothing. Instead of the depositors gaining the, the banks are keeping it and doing nothing with it. At a rate of 5% on IEOSD the $7.77 trillions would yield $385 billion dollars, which, if given at least that rate of 5% (IEOSD) as was the case before the attack on Iraq) estimates say the depositors would pump into the market place about 75% - 90% of that money. The 99% own about 45% - 50% ($173.25 - $192 Billions) of that cash. They would spend or invest it quickly and thus will create sales and jobs. The present rate of near zero IEOSD pumps NOTHING into the economy and Mr. Bernanke wants to keep it that way for almost three more years, while the banks are keeping ALL of that depositors, should be receiving.
I suggest replacing Bernanke and placing Charles Schwab, Paul Krugman, Bill Clinton, or Paul O'Neil, all of which, by the way, appear to agree with me. Raise the interest rates enough to pay 5% in banks as before the war. The banks are using the 0% rates to further crush growth. They are keeping and getting rich on interest which the depositors in said banks should be receiving.
Below are a few ideas to vastly recapture the full employment market.
1)- End TARP, replace Bernanke with those I suggested above and raise interest rates to a point which is generating 5% earned interest releasing $385 Billions to discretionary spending into the marketplace?
2)- Create State Banks ala North Dakota, in every state? The State Bank model in North Dakota has worked profitably for 96 years with no semblance of the problems and avarice of corporate banks. Why not have each state create a Public State Bank and nationalize all corporate banks?
3)- Make the energy use-free-Geothermal HVAC the standard by law and cap prices on it so that the grants given for it are not eradicated by greedy HVAC Installers simply raising their prices the grant amount of 30%. Lower energy costs by mandating Insulation of R-30 in walls, R-50 to R-65 Ceilings and build smaller houses of stone/brick? Doing so would perk the building and rehab markets and diminish energy use considerably. Fire all certified appraisers which appraise homes and replace them with architects, with no ties to banks and builders , thus eliminating the gigantic corruption which was ignored during the 2000’s.
4)- Either by an Executive Order or a new Bill ad huge excise taxes on all currently outsourced jobs which bring outsourced goods to meet or exceed prices of similar goods made in the USA and do not exempt the robber barons who claim that the pauper wages they are paying workers in the Northern Marianna Islands. I suggest Union scale Plus 15% for each Job whether by a corporation of contractor.
5)- Because of the low tax rate for the upper 1% they are each saving, an average $48 million a year, every year since the Bush tax cuts for the very rich. End that discrepancy, now by Executive Order or Bill.
6)-Tie ALL pensions, including state and federal and Social Security to pensions of the US Senate. Tie all healthcare for all citizens, to that of The senate also
The United States has had a public debt since it’s founding in 1791. Debt relative to GDP rose rapidly during the 1980s under president Ronald Reagan, whose economics policies increased military spending and lowered tax rates. Gross debt in nominal dollars quadrupled during the Reagan era as well as during the era the senior Bush presidencies between 1980 -1992. The net public debt quintupled in nominal terms. Debt held by the public had declined from 28% to 26% of GDP in the 1970s; by contrast, it rose to 41% of GDP by the end of the 1980s. But all of that money went to corporations who grew NO new jobs. You cannot spend money and lower taxes at the same time that is like quitting your job and buying a new house.
“Economist Mike Kimel notes that the last five Democratic Presidents (Bill Clinton, Jimmy Carter, Lyndon B. Johnson, John F. Kennedy, and Harry S. Truman) all reduced public debt as a share of GDP, while the last four Republican Presidents (George W. Bush, George H. W. Bush, Ronald Reagan, and Gerald Ford) all oversaw an increase in the country’s indebtedness.
Economic historian J. Bradford DeLong, former Clinton Treasury Department official, noted that the contrast was not so much between Republicans and Democrats, but between Democrats and "old-style Republicans (Eisenhower and Nixon)" who on one hand (decreasing debt), and "new-style Republicans" on the other (increasing debt). D.Stockman, director of the OMB under President Reagan, in an op-ed in the New York Times, blamed the "ideological tax-cutters" of the Reagan administration for the increase of national debt during the 1980s."
PS: World Debt: Argentina did wonderfully well as has Brazil, Sweden and many other using FDR’s formulae, and Russia despite bankruptcy is doing just fine, thank you. The 14th amendment, article 4, allows a president to end-run around a deadlocked congress on the debt problem, as did President Harry Truman.
_______
ProfessorEmeritusPeteB.
If the low IQ Austerity mongers gets all that it wishes; ending Collective Bargaining, cuts in pensions, Medicare, Social Security, laying-off millions of people, what will happen? Well, it cuts past and into the bone of commerce. The discretionary income of approximately 80 – 90mmillion people will be all but annihilated. The companies whom they support by buying goods and services will be diminished and those companies they were patronizing by buying goods and services will go bankrupt and added to the present 31 million out of work and underemployed will more than double making the depression of 1929 look like a lark in the park.
I have spoken to a number of entrepreneurs, all of who say the same thing; if they had a stronger income from savings, they would invest or spend it on a variety of things. That money would make a needed entry onto the market place.
One of them was very specific. He has $750,000 in savings, which should generate at 5% IEOSD - (Interest Earned On Savings Deposits) about $37,500 a year. From 2008-2014.5, with his present rate of near zero IEOSD, he will lose about $425,000 during this six-year drought of solid . That discretionary income would have allowed him and millions of other Americans to expand their businesses’ or purchase autos, new homes or renovate and/or furnish the offices, or homes and hire new employees etc.. Stuck at near zero interest IEOSD many people simply cannot expand their businesses update their homes and HVAC to save energy, and thus are stymied in or their business and their private lives.
There is right now $7.77 trillions in savings in US banks at a near zero rate of IEOSD yielding to depositors next to nothing. Instead of the depositors gaining the, the banks are keeping it and doing nothing with it. At a rate of 5% on IEOSD the $7.77 trillions would yield $385 billion dollars, which, if given at least that rate of 5% (IEOSD) as was the case before the attack on Iraq) estimates say the depositors would pump into the market place about 75% - 90% of that money. The 99% own about 45% - 50% ($173.25 - $192 Billions) of that cash. They would spend or invest it quickly and thus will create sales and jobs. The present rate of near zero IEOSD pumps NOTHING into the economy and Mr. Bernanke wants to keep it that way for almost three more years, while the banks are keeping ALL of that depositors, should be receiving.
I suggest replacing Bernanke and placing Charles Schwab, Paul Krugman, Bill Clinton, or Paul O'Neil, all of which, by the way, appear to agree with me. Raise the interest rates enough to pay 5% in banks as before the war. The banks are using the 0% rates to further crush growth. They are keeping and getting rich on interest which the depositors in said banks should be receiving.
Below are a few ideas to vastly recapture the full employment market.
1)- End TARP, replace Bernanke with those I suggested above and raise interest rates to a point which is generating 5% earned interest releasing $385 Billions to discretionary spending into the marketplace?
2)- Create State Banks ala North Dakota, in every state? The State Bank model in North Dakota has worked profitably for 96 years with no semblance of the problems and avarice of corporate banks. Why not have each state create a Public State Bank and nationalize all corporate banks?
3)- Make the energy use-free-Geothermal HVAC the standard by law and cap prices on it so that the grants given for it are not eradicated by greedy HVAC Installers simply raising their prices the grant amount of 30%. Lower energy costs by mandating Insulation of R-30 in walls, R-50 to R-65 Ceilings and build smaller houses of stone/brick? Doing so would perk the building and rehab markets and diminish energy use considerably. Fire all certified appraisers which appraise homes and replace them with architects, with no ties to banks and builders , thus eliminating the gigantic corruption which was ignored during the 2000’s.
4)- Either by an Executive Order or a new Bill ad huge excise taxes on all currently outsourced jobs which bring outsourced goods to meet or exceed prices of similar goods made in the USA and do not exempt the robber barons who claim that the pauper wages they are paying workers in the Northern Marianna Islands. I suggest Union scale Plus 15% for each Job whether by a corporation of contractor.
5)- Because of the low tax rate for the upper 1% they are each saving, an average $48 million a year, every year since the Bush tax cuts for the very rich. End that discrepancy, now by Executive Order or Bill.
6)-Tie ALL pensions, including state and federal and Social Security to pensions of the US Senate. Tie all healthcare for all citizens, to that of The senate also
The United States has had a public debt since it’s founding in 1791. Debt relative to GDP rose rapidly during the 1980s under president Ronald Reagan, whose economics policies increased military spending and lowered tax rates. Gross debt in nominal dollars quadrupled during the Reagan era as well as during the era the senior Bush presidencies between 1980 -1992. The net public debt quintupled in nominal terms. Debt held by the public had declined from 28% to 26% of GDP in the 1970s; by contrast, it rose to 41% of GDP by the end of the 1980s. But all of that money went to corporations who grew NO new jobs. You cannot spend money and lower taxes at the same time that is like quitting your job and buying a new house.
“Economist Mike Kimel notes that the last five Democratic Presidents (Bill Clinton, Jimmy Carter, Lyndon B. Johnson, John F. Kennedy, and Harry S. Truman) all reduced public debt as a share of GDP, while the last four Republican Presidents (George W. Bush, George H. W. Bush, Ronald Reagan, and Gerald Ford) all oversaw an increase in the country’s indebtedness.
Economic historian J. Bradford DeLong, former Clinton Treasury Department official, noted that the contrast was not so much between Republicans and Democrats, but between Democrats and "old-style Republicans (Eisenhower and Nixon)" who on one hand (decreasing debt), and "new-style Republicans" on the other (increasing debt). D.Stockman, director of the OMB under President Reagan, in an op-ed in the New York Times, blamed the "ideological tax-cutters" of the Reagan administration for the increase of national debt during the 1980s."
PS: World Debt: Argentina did wonderfully well as has Brazil, Sweden and many other using FDR’s formulae, and Russia despite bankruptcy is doing just fine, thank you. The 14th amendment, article 4, allows a president to end-run around a deadlocked congress on the debt problem, as did President Harry Truman.
_______
ProfessorEmeritusPeteB.
Prof Bagnolo's bio
Professor Emeritus Bagnolo has majored in: Cultural
Anthropology, Architectural design, painting, creative writing. As a
child prodigy, abed with paralytic polio for almost two years, and was told he might never walk again. Upon returning to school he was offered an
opportunity to skip three grades at age 8.
Later He was a recipient of an Art Institute scholarship at age 11. In college he won Ford Foundation Fellowships in Anthropology, architecture and in Painting and had seven majors in Undergraduate school, as well as a merit scholarships in art, and was appointed to a Graduate Research Assistant position. He holds a triple bachelor's degree in Painting and Drawing, Anthropology, Architectural and other majors in Design Advertising, theology, film making and more. MA's in Cultural Anthro, Illustration and more. Despite e was an outstanding athlete in baseball, (offered contracts by 12 Major League Baseball teams) professional flag football, volley ball, and basketball.
After being tenured he taught; architecture, anthropology, advertising, painting and drawing, entrepreneuring and Creative Profit Making. He produced a star-studded Music festival, had a radio talk show in Chicago, and cable TV show. Now, an early retiree from Teaching, he paints, writes, and pursues other ventures. Written By His agent David Elias and taken from comments by deans, faculty his parents and students.
Later He was a recipient of an Art Institute scholarship at age 11. In college he won Ford Foundation Fellowships in Anthropology, architecture and in Painting and had seven majors in Undergraduate school, as well as a merit scholarships in art, and was appointed to a Graduate Research Assistant position. He holds a triple bachelor's degree in Painting and Drawing, Anthropology, Architectural and other majors in Design Advertising, theology, film making and more. MA's in Cultural Anthro, Illustration and more. Despite e was an outstanding athlete in baseball, (offered contracts by 12 Major League Baseball teams) professional flag football, volley ball, and basketball.
After being tenured he taught; architecture, anthropology, advertising, painting and drawing, entrepreneuring and Creative Profit Making. He produced a star-studded Music festival, had a radio talk show in Chicago, and cable TV show. Now, an early retiree from Teaching, he paints, writes, and pursues other ventures. Written By His agent David Elias and taken from comments by deans, faculty his parents and students.
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