Dear Mr. President:
This is a plan to turn our current abysmal economy into a prosperous one — a plan that will work within six months.
My solution is called TriConomics. It will replace the ineffective trial-and-error methods of economics with more scientific formulas that have predictable and repeatable outcomes.
TriConomics has three distinct phases:
1. Stop the economic bleeding through no-nonsense measures.
2. Implement a manual to guide the recovered economy toward a recession-proof high standard of living.
3. Maintain the manual with refinements that enable the fine tuning of the economy to an ever-improving and sustainable quality of life by evaluating all aspects of life and all new theories of TriConomics by testing them against the rules of www.UniversalDemandLaw.com.
First, we must deal with the lack of consumption in our economy.
This puts downward pressure on distribution and production and causes downsizing and bankruptcies in all distribution- and production-related businesses causing layoffs and unemployment and further decline in consumption.
How can we get consumers buying again? Not by giving banks and financial institutions a few hundred billion dollars and hope that they will inject that money into the consumption cycle. That will not happen.
The banks will just cover their losses with it and say, “Thank you very much.”
Infrastructure projects won’t work either. Infrastructure projects take years of planning and government approvals.
There are currently only $40 billion worth of infrastructure projects nationwide for which the planning has already been done and these would be ready to start in a few short months — too little, and way too late.
Local governments have run out of money and are laying off people in large numbers and have halted most local infrastructure projects.
The federal government must immediately fund all lower levels of government, state, county, city, and community levels on a per capita and area cost-of-living basis regardless of immediate need with assurances of ongoing funding until the tide has turned.
There are a few governments that are solvent but others cannot make their irresponsibly bloated payrolls and are laying-off thousands of people. It will prevent the layoffs and can fund local government infrastructure projects that have been put on hold. It will quickly pump billions into the economy on the local level while at the same time preventing additional layoffs.
The federal government must swiftly issue National Debit Cards to all the residents that have a Social Security number (including children and documented aliens) and fund these debit cards with $150 immediately, another $100 30 days thereafter, and additional $100 at 30-day intervals.
This must be with the proviso that each funding must be consumed within 30 days and cannot be cashed out or saved. All money not consumed within 30 days of funding will revert back to the government.
With approximately 300 million current active Social Security numbers, the first $150 debit card funding will put an immediate $45 billion into the hands of consumers followed by $30 billion for every $100 thereafter.
Monitoring the effects on the economy during the 30-day periods will determine increases or decreases in the funding amounts. Feeding money in too quickly will cause inflation, too slowly further recession.
We cannot tolerate the delays Congress creates with considering all manner of trial-and-error schemes proposed by the lobbyists of financial and insurance industry special interests.
We need to feed the money directly into the economy to boost consumption.
We do not have the luxury of time to do in depth studies and debates in Congress. We will have to take a reasonable amount of money from what is slated for financial and insurance industries and fund local governments and National Debit Cards.
There will be an immediate benefit to the financial and insurance industries as well because the banks will of course wind up with the float of all these funds while they flow from consumers to goods-and-services providers and from account to account during transactions thereafter.
We must act fast.
For details on TryConomics and for more information, visit www.TriConomics.com.
Alf Temme is the creator of TriConomics. He can be reached at firstname.lastname@example.org.
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