According to a recent report from a group of University of Massachusetts economists, Corporate America is sitting on top of the solution to the nation’s employment crisis. If they only loosened their death grip on a portion of that pile of money they are hoarding, America could begin to heal economically according to the report.

19 Million Jobs for U.S. Workers

Abstract:
Robert Pollin, James Heintz, Heidi Garrett-Peltier and Jeannette Wicks-Lim show that since 2009, U.S. commercial banks and large nonfinancial corporations have been carrying huge cash hoards and other liquid assets, totaling $1.4 trillion. Small businesses, by contrast, have been locked out of credit markets. The authors examine the impact on job creation of mobilizing these excess liquid assets into productive investments, finding that U.S. employment could expand by about 19 million jobs by the end of 2014, with unemployment falling below 5 percent. The paper discusses policies to transform these hoards into job-generating investments, both for the national economy and, specifically, the Los Angeles and Seattle regions . . .

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ILWQ COMMENTS:  Change for the 99% will only come when we address the root cause.  Treating symptoms does not alleviate the disease, the heart of the problem:  the sick and evil constructs under which Wall Street is allowed to operate.

Everything in the report is true and members of the 99% who read this report are likely to become even more outraged at Wall Street, Congress, and the 1%.  However, the fact that the Wall Street rich and at least 44% of Congress are hoarding cash and increasing their personal wealth on the backs of the 99% is NOT  the problem.  It is a symptom of the problem.

THE PROBLEM IS:

Wall Street is a corrupt and foul system whereby people can get rich off the misfortunes of others without themselves even lifting a finger to work.  Until the guidelines under which Wall Street operates are changed, any improvements will merely be addressing symptoms.  According to the guidelines of Wall Street, cost should not be a part of doing business.  Thus, anything goes when it comes to reducing costs and I mean ANYTHING, not just firing people.  Their evil knows little bounds–up to and including deliberately starving millions of human beings to death* as Goldman Sachs appears to have done according to the opinions of many in 2008.)

(*Note:  Frederick Kaufman published an article on this topic in Harpers Magazine in August, entitled “The Food Bubble: How Wall Street Starved Millions and Got Away with It”  The article chronicles Kaufman’s attempt to get to the bottom of the 2008 food crisis, and the real reason behind why millions of people were shoved into food insecurity and starvation in 2008.)  Where is the justice for these people?  Where is their Nuremberg?  Many say that the executives of Goldman Sachs should be tried for crimes against humanity for what they did in 2008.

Let me repeat that in simple terms:

Wealthy Wall Street investors make money when people are fired so why would anyone in their right mind think that these people support job creation–and that includes the majority of Congress.

and that is the root cause of the problem that is begging for a solution.  Any system whereby profit is created by doing harm to another is corrupt and needs to change. That is the major portion of the root cause.  Until that equation is altered, nothing of any significance will change.

Here is the other portion of the problem statement of the root cause:

Members of Congress who create and pass legislation increase their own personal wealth when Americans lose their jobs.  People who own the media, and people who deliver our media also increase their own personal wealth when Americans lose their jobs.

For example, my own Congressman Pete Sessions, the Republican incumbent for the 32nd US Congressional District numbers among the millionaire Congressional members who have gotten richer on the backs of working Americans.  In 2008, Sessions reported a net worth of $3,376,000.  One year later in 2009 he reported a net worth of $4,904,000.  Thus in the time period in which 7.3 million Americans  lost their jobs, Mr. Sessions made $1,528,000 off his Wall Street investments.

Go to Open Secrets and look up your own elected officials’ net worth.  Check out the amount in 2008 and then compare it to the amount in 2009.  Chances are you will find that in the two years that millions of Americans were losing their jobs and their homes that your elected officials were increasing their own personal wealth by hundreds of thousands of dollars, and in many cases, by millions.

Will Americans continue to buy the nationalistic, political hogwash that corporate owned and sponsored media and their yes men like Pete Sessions spill out year after year, or will they finally wake up in 2012 and vote for Independents from neither party who are actually committed to change that will benefit the majority?  Time will tell.  As for me, today is the day I file my intent to run against Pete Sessions in 2012.

And it’s more than voting for the right person and waiting for a political Messiah.  It’s about forming groups among ourselves at local levels and taking our lives back from these people instead of begging them for crumbs.  We need to work together to create better solutions now–solutions that don’t require obtaining permission from people who not only do not represent us but who also profit from our demise.  #Occupy is leading the way in those efforts.  Support your local #Occupy group in away way you can because at the moment, they are the closest thing that we have to a representative government.  It damn sure is not located in Washington D.C.

Proclaim the Queen!

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