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Morris Kent Thompson for President
Gearing up for 2012
Press Release: December 1, 2008
BAILOUTS are Voodoo Economics.
All economic theories and calculations are based upon basic assumptions about supply, demand, growth, and risk. For example, in my travels about the State looking for land sites to build apartments I found most cities have a population from all socioeconomic strata. The market studies supported the demand, the land sites were at price points and site conditions that were desirable. However, the one factor that kept coming back was the inability of potential renters to pay the rents that the model and our banks demanded. Hint, the wage base has been intentionally depressed.
Add to that the continual drain of high wage base manufacturing jobs due to outsourcing, the collapse of our two major manufacturing industries, construction and automobiles, and we have a profound lack of demand that has shut down the demand in all other areas and triggered significant unemployment.
So very simply, we have a liquidity crisis due to significant unemployment brought on by the marketeers shifting their investments to real estate when the bubble burst in the stock market. Of course, playing their same games in Real Estate that fostered very creative appraisals and financing to accommodate this irrational exuberance.
For example, I watched an ocean front site bought for $1 Million, and the next day put back on the market for $5 Million. The same scenario played out with condominiums, single family, and commercial properties.
Moreover, these commercial properties were refinanced with 5, 7, and 10-year balloons’ and are due for refinance, with a blood bath expected, as vacancy rates are escalating and valuations are significantly down. This will trigger additional foreclosures and bankruptcies.
I stopped into three businesses, only to find two of the three were cutting back days of operation, not hours, and are contemplating closing up shop, as they cannot pay the rent.
The credit crisis will work itself out with time as Adam Smiths invisible hand, greed, takes hold if we can foster significant gains in employment, with real wage growth.
Stop gap measures such as earned income credits for small business tied to payroll, prudent short term loans to business and industry who have a viable plan to not only retain profitability, but more importantly market share, extending unemployment benefits, and infrastructure capital improvements while suffice. These strategies will not put the national treasury at risk. Particularly, at a time when the models do not work and no one knows if any BAILOUT will work, which smacks of irrational exuberance.
My program will create the demand for manufacturing and nationwide employment in the private sector and pays for itself. The quid pro quo for the banks is the short term federally insured construction/permanent financing loans to convert to a decentralized solar power grid. The novelty to this approach is that the customer uses their average existing electric bill to pay for this, which does not require federal funds, I repeat, does not require federal funds.
We can have our automobile manufacturing plants running at 100% capacity by mandating conversion to battery-powered cars, with a buy back retrofit program to ensure all used cars are converted over a five-year period.
We can have our economy zooming, with secure jobs for our workers and at the same time attack global warming, by sending the dinosaur back to extinction from whence it came. A program I will institute, and will be paid for by shifting the over $1 trillion dollars being spent on upgrading an outdated 1800’s technology power grid and recycling the steel, aluminum, and copper hanging from telephone poles as part of the program I will institute to transition our energy to solar power for all residential and business needs.
Remember, solar and battery power is GREEN, it’s CLEAN, and it’s FREE!
Put me on the ballot in all 50 states, and together, we will straighten this mess out, and Strike the Colors on Global Warming.
My name is Morris Kent Thompson and I approve this message.
What excites you about this campaign?
While my approach differs, I am excited about the program, particularly, since the man puts his money where his mouth is.
What do you want to do to help?
Under my plan the $1 Trillion being spent on updating an outdated power grid could be diverted to this. The government instead of investing in infastructure in Iraq could justify investing in this endeavor as an equity player.
Comment Wall (13 comments)
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Nothing anyone does will change anything unless the banking system recognizes that their industry is the cause of the world's problems. They will have to effectively stop doing everything that they do at the moment and replace it with a system that just records the trades made by individuals. The only banking system that will fix the problems that we have is one that does not make money for itself.
There are several ways in which this end can be achieved. We can wait until the bankers are dragged into the streets and made to walk on broken glass in bare feet until they bleed to death or the CommonGood Bank could purchase the Toronto Dominion Bank and everyone can be provided with a credit card that conducts business in those nice new plastic Canadian bank notes.
There are a few other options but there is no sense in confusing anyone.
No offense taken. Confess that I don't remember writing all that. I am however very positive about personal survival efforts. Presently working with associates on homegrown projects to fill the void in current systems.
How about a little Sterling engine using hydrogen as the working gas and heated with solar power? The little engine is no bigger than a car battery and drives an 18 volt cordless drill as a generator. The collector looks like a 6 ft. diameter satellite dish. This is doable without importing anything from China and will charge your batteries. An alternative is to use the power for electrolysis of water. Hydrogen gas burns just like NG in the same equipment.
Then we have the solar powered food dehydrator which doubles as a home heat source during the winter, and an over unity motor- generator. The motor is pulse magnetic which is where the larger return for energy invested occurs. The dormant energy in a magnet is released when a second electromagnet, positioned within the field of the first magnet, is energized. The two magnets move together (or apart depending on polarity) much more enthusiastically than if the first magnet was just a piece of unmagnetized iron. Many DIY have proven the motor- generator concept but haven't figured out what they should be doing to increase their return. It is fun to watch them try.
Also planning a recycle project using automobile wheel rims. Stack them up and weld them together. Spray them with foam insulation then plaster inside, concrete outside. Then for good measure pile earth over the whole thing.
The changes will not start at the top because the top is quite happy thank you. The changes will start at the individual level and the Institutions and Governments will have to adjust as best that they can.
The transportation fuel with the smallest carbon footprint is one you've probably never heard of — biodiesel made from greasy wastewater. Listen to a podcast tour of BioFuelbox, a new biodiesel plant using technology developed at INL. Check out the Idaho National Laboratory Wall to learn more. http://www.facebook.com/idahonationallaboratory
At 5:34am on January 5th, 2009, christopher tidman said…
Have you the numbers and dollar costs for a 10 day battery backup system for your entire grid? Does America even have enough Dilithium Crystals to power the system ?
You will also need to produce more than the average consumption during the sunny days to charge the batteries ? Building extra capacity and reserve is more expensive than the existing grid which is already in place. Batteries only last so long then they have to be replaced.
A PV system produces the same amount of energy over its thirty year life expectancy as it takes to produce the PVs. A solar/thermal system costs less to set up, produces more power, lasts longer and does not need batteries because it can store energy as heat for when the sun doesn't shine.
You are thinking in the right direction. However, the existing grid moves large amounts of energy to large commercial users. These will be difficult to service without the existing grid and without conventional base power generation for days when the sun does not shine.
As home owners reduce their demand for energy the costs of idle capacity will increase the costs of electricity for the customers who are unable to switch to alternate energy.
The US is happy to rebuild Iraq and get paid with oil. Investing in America is much trickier. We have to offer things that Americans need and can afford to pay for. Electric cars will not sell if they cost too much and we will need some sort of grid to power them up.
Solar energy is not free. With photo voltaic cells you are paying up front for the energy needed to make the cell that you will get back over the next 30 years. Most of these cells are manufactured in China. Solar/thermal provides a better energy return on energy investment.
We will still need a new electric grid but it will be local and 'smarter'.
Will your plan accommodate the fact that our baby boomers are entering retirement which will leave us with 4 old people doing nothing with one person in the work force to produce the products and pay the taxes to keep everyone else fed, and repay the National debt and carrying charges ?
Where can I read or listen to your multi faceted strategy ? Why don't you post a brief outline on your blog here on this page, so we can all understand what you mean by quid pro quo guaranteed loans backed by taxpayer money.
If the Government guarantees the loans, the Government is taking the risk so the Government should keep the interest from the loan not the bank. The bank is just the agent for the distribution of money and gets paid a service charge for filling out the forms,- but they don't make a profit from renting out money. If that is what you are suggesting I would agree implicitly - but it will not be an easy sell. a 'Simplified Economics' course is offered on 'my page' blog. If it is not correct, please let me know.