Investing in Jobs: A Necessity for a Better Economy
Timothy Stagich, Ph.D.
At present feeding the greed on Wall Street seems to be more important than building our organizations, investing in jobs and promoting consumer confidence. The increasing emphasis on Wall Street over Main Street has led our nation to the precipice of economic disaster with more concern about building financial portfolios than building our organizations and producing better products and services. Our preoccupation with building our 401ks over investing in jobs and innovation in industry has put our country on a dangerous road leading to financial turmoil and increasing debt. The present situation may not have become so bad if it were not for the increasing greed that has grown epidemic because of the insider investors, speculators and derivative market manipulators who have almost succeeded at bringing down the global economy.
Our politicians are allowed to legally invest on Wall Street based on insider information. And, even though this practice is legal, it is certainly unethical and at the very least it feeds the greed as well as promotes complicity with Wall Street practices that have undermined our entire financial system. It also feeds into the erroneous concept that our economy is somehow dependent on Wall Street when the real future of our economy is dependent on investment in Main Street Jobs, infrastructure and companies that are building innovation and useful products instead of just profits and portfolios. We seem to have our priorities upside down with no real sign of turning things around. Our emphasis on Wall Street is promoting speculation and increasing debt over the investment in quality products and services through innovative companies.
As speculators drive the prices up for oil on Wall Street the consumers suffer with higher prices at the pump. And, as Oil Companies become more concerned about paying off investors than they are about providing benefits to consumers and customers everyone continues to service the greed for profit over benefits to customers in a consumer-driven economy. It is estimated by most economists and experts that consumer buying, investment in innovation and job creation are more that seventy-five percent of the economy. Instead of investing in these areas that will produce a better economy, we are investing in speculation, derivative gambling and betting on increasing debt for the future of our country. This situation is worse than a get rich quick scheme. It is a catastrophe of global proportions with Wall Street at the center of Economic Armageddon. We are continuing to feed the Monster on Wall Street while our citizens go hungry. And, in the process we refuse to tax the rich to at least help our nation pay off some of the debt.
There are now over twenty million more people in America on Food Stamps which is an increase of almost forty percent. We are heading in the direction of developing a society of one percent of the very rich and ninety-nine percent of everyone else struggling to pay their bills and some even going hungry. There are still fifty million people without health insurance, twenty million more people out of work, and a national debt in excess of one trillion dollars. And, even though President Obama has proposed a “Jobs Plan” the Republicans have been blocking every effort to tax the rich and provide for more ways of building innovation and new jobs for our economy. The Republicans are just continuing to feed the greed on Wall Street.
We can and must do better to turn our economic practices around. We can do this with a renewed focus on investing in jobs, innovation in business and financial incentives for small and medium size businesses to build their companies. And, with more encouragement to help consumers with less speculation on Wall Street and lower prices at the gas pump, government and big business can work together to renew our focus on rebuilding our consumer driven economy. This can be achieved by taking profits and instead of paying off investors reinvesting this money in innovation and job creation. Much more can be done with leadership that provides a vision of an economic future for America built around what is good for everyone in a consumer-driven economy.
Copyright 2012, Global Leadership Resources
