The following is a 24/7 press release scheduled for release.
Business executives including GE Chairman and Job Czar Jeffrey Immelt recognize that a weaker dollar will create job growth and more favorable balance of trade. Inflation worries are overstated with significant cuts in gas and fuel taxes.
Economic revitalization and creation of millions of jobs is within our grasp. The impossible dream can become a reality.
The current economic slowdown is primarily a result of the housing and mortgage debacle due to lack of strict government control over financial market abuses and the three trillion dollars that have been siphoned from our economy by wars in Afganistan, Iraq and Libya. A great deal of the foreign aid given in recent years has in effect been a payoff to countries like Pakistan to allow us to supply our troops.
The real economic crisis facing the United States is continual decimation of our manufacturing base. This will not only lead to long-term unemployment of unprecedented levels but a dangerous situation in which we will no longer have necessary reserve manufacturing capabilities to produce essentials in the event of a global disaster. The strengths of the American economy have always been tied to a strong manufacturing and research base and a superior infrastructure.
Foreign countries, especially China, have artificially suppressed the value of their currencies to abduct and appropriate American jobs and manufacturing to their shores. Avaricious multinational corporations willingly sacrifice the best interests of our country on the altar of insatiable corporate greed.
Jeffery Immelt clearly stated during his interview on 60 Minutes that a weaker dollar was a creator of American jobs. Immelt’s own words were, “You know, with the currency weaker . . . we think the U.S. can be quite competitive.” Unfortunately, Leslie Stahl never questioned Immelt about this remarkable statement.
Quantitative easing and a devalued dollar is the short- and long-term solution to keeping Americans working and competitive.
Immelt also explained, “I’m a complete globalist. I think like a global CEO. But I’m an American. I run an American company. But in order for GE to be successful in the coming years, I’ve gotta sell my products in every corner of the world.” What he didn’t say was that profits were more important than keeping Americans employed, but his Chairmanship at GE has certainly shown this to be true.
He never described his role as Chairman of GE as in any way tied to loyalty to his country but rather to GE’s international fortunes. This is why as Chairman of GE he feels no remorse for ripping off the American treasury by legally, if not morally, shifting GE’s legitimate tax share to an already overburdened middle class.
President Obama and Ben Bernacke can save the American economy, create massive increases in employment, restore our infrastructure to ensure our future, and create a better America by instituting a well thought out program of monetary easing.
Congress has shown that it is incapable of putting politics aside and acting on behalf of American workers. Monetary easing is the logical alternative.
Inflation is a risk associated with monetary easing. Imported goods, especially petroleum products including gasoline, diesel fuel and jet fuel, will increase in costs. The inflationary aspect of monetary easing could be prevented by lowering taxes on these products. The money created by monetary easing could be used to improve our crumbling infrastructurs, secure social security and Medicare, or to reduce the national debt.
The decreased value of the dollar would make our products a bargain in world markets, increasing our exports dramatically. Quantitative easing would also increase costs of imports, reducing their volume and correcting our balance of trade deficit.
Global companies like GE would invest in America again, not due to patriotism, but in the name of profits.
Monetary easing is not the answer to all economic problems but it would give our country time and resources to rewrite our tax code in a fair and equitable manner designed to prevent abuse.
Congress can specifically write tax code in the future to reward companies that create jobs and tariff companies (like GE) that export jobs. Companies like GE and their executives care about profits and their personal remuneration. Let’s write laws where executives can increase profits through patriotic behavior.
Jeffery Immelt is now charged with creating jobs in the United States; watch his behavior carefully. We should applaud President Obama for having the guts to place his re-election hopes on a diehard Republican who has never shown an interest in protecting American jobs but does understand business.
I hope the President’s trust is well placed.
Dr Ira L Shapira is an author and section editor of Sleep and Health Journal, President of I HATE CPAP LLC, President Dato-TECH, and has a Dental Practice with his partner Dr Mark Amidei. He has recently formed Chicagoland Dental Sleep Medicine Associates. He is a Regent of ICCMO and its representative to the TMD Alliance, He was a founding and certified member of the Sleep Disorder Dental Society which became the American Academy of Dental Sleep Medicine, A founding member of DOSA the Dental Organization for Sleep Apnea. He is a Diplomate of the American Board of Dental Sleep Medicine, A Diplomat of the American Academy of Pain Management, a graduate of LVI. He is a former assistant professor at Rush Medical School’s Sleep Service where he worked with Dr Rosalind Cartwright who is a founder of Sleep Medicine and Dental Sleep Medicine. Dr Shapira is a consultant to numerous sleep centers and teaches courses in Dental Sleep Medicine in his office to doctors from around the U.S. He is the Founder of I HATE CPAP LLC and http://www.ihatecpap.com Dr Shapira also holds several patents on methods and devices for the prophylactic minimally invasive early removal of wisdom teeth and collection of bone marrow and stem cells. Dr Shapira is a licensed general dentist in Illinois and Wisconsin.