This is what creates prosperity; designing and making, being industrious.

[Chris Coles]

The fact is, this is what creates prosperity.

http://seven-streamliner.com/engine/index.html
What you see laid out is the product of industrious and creative minds within a small community doing something that has no commercial value, but is honest enterprise. Yes, it is simply all the individual parts of the engine of a successful land speed record car, but multiply that by the hundred thousand and you get some idea of a route out of the present financial dilemma. You do not need to make a profit to succeed; you only need something useful to do that involves designing and making something, indeed, anything! Prosperity comes from the investment of equity capital and designing and making anything that can be seen as useful and honest industry. That is the forgotten lesson in today's world of QE and "trading" paper assets.

[Thailandnotes]

Re: This is what creates prosperity; designing and making, being industrious.

You can now buy micro hdyro-electric generators in Laos for about 20 dollars. They are made in China and just a few years ago cost 3 or 4 times as much.

[pangea]

Re: This is what creates prosperity; designing and making, being industrious.

Agreed. And right now we are doing everything we possibly can to PREVENT IT [producing] here in America. Necessity is the mother of invention for a god damn reason. It's called Darwinism. It's called I have to feed my family and keep them out of the friggin rain. It's called Ghangis Kahn had six million offspring for a reason. It's called competition.

Creative destruction's offspring is what breeds the next invention. Instead we've said SCREW IT. We will invent MONEY THAT IS TOO BIG TO FAIL! Leveraging FEAR to get there.

That works until those who were playing in the system finally get screwed, who played by the rules are now having the rules re-written. They are the ones that didn't buy houses when everyone else did. They waited. They waited, saving their cash, doing what was prudent. Instead of getting rock bottom housing prices back where they belong, what did we get?

Johnny! Tell them what they won! A mortgage market that's 85-90% backed by the American taxpayer! YES!

We got REJECTED offers on foreclosed properties by bailed out banks with our own tax money.

Don't give me the "but the banks are paying it back" crap, because thats when the game ended. The rules were there, there was no backstop for their risk, oh wait a minute YEAH THERE WAS, it was called CDO's! They screwed up but didn't fail. By NOT letting them fail, you prevented assets to correctly price themselves in the open market.

Prohibiting all those ivy league geniuses who came up with some of these fantastical financial contraptions to actually have to figure out how to assemble something other than a CDO or mortgages cubed crap.

THATS when smart people would have been forced back to PRODUCING something that other people might actually be motivated into working hard to purchase it.

Sure, they won the last few decades, but continuing to sit atop that ponzi scheme on the backs of the US taxpayer is NOT playing by American rules.

That's OLIGARCH rules. The game is now RIGGED. Favoring those on the inside.

Moral hazard? You best damn believe it.

Instead, we have banks sit on properties, banks became landlords, they rented, even though the bank was insolvent, even though the bank was using his or her tax money to keep the lollipop dispenser full.

That's when the old game ended. When those who are landlords or small business owners, when those who are the ones who played by the rules finally got screwed so that those who sat at the top of the ponzi scheme cried 'too big too fail'.

Thats just for starters.

So we'll all keep our kids fed and our roofs intact for a tad longer, until the creditor nations say ENOUGH. They'll follow IRAN and others off the dollar, finally winning a war against the west that they could never win with a military. They are doing it through their wallets, by beating us at our own game, feeding us with cheap money for decades as we at sat there in a gluttonous pile of consumption.

WE ARE NOT IN CONTROL OF OUR OWN DESTINY.

A mere blip on the radar of the world stage, whether from IRAN or from China or Japan pulling its debt buying will send us into a fighter jet flat spin.

We have made 20% of GDP - financial shenanigans. Completely flip flopping productivity for consumption. Throw in another what, 12-15% government employment. What's left? That all depends on just how much you believe the data to begin with.

Riddle me that, how if 20% of our GDP WAS financial services can we not be in a depression already?

Oh yeah, because 20% of GDP STILL IS IN FINANCIAL SERVICES.

Read pretcher or schiff and one of them, I can't recall who - actually demonstrates that GDP actually derives output increases when intel makes a faster processor. Because the secretary now should be able to type 200 WPM instead of 100. Thereby getting TWICE as much done. RIGHT.

It is sick, it is now, and what are we doing just sitting here allowing it to happen? AM I WRONG?

-Pangea