Supercharged Senator Warren Mosler, ( I ) CT

What Connecticut truly needed was a second Independent senator!

At a weekend cookout this Labor Day, I ate kosher hot dogs and chewed the fat with Warren Mosler, candidate for U.S. Senate from the Nutmeg State and, I learned afterward, described by some as a "Tea Party Democrat" (?)  Warren, in earlier life a bond trader, hedge fund manager ($5BB under management) and supercar manufacturing entrepreneur, brought his 37 years "insider" finance experience to the table: "Larry Summers, Timothy Geithner, Hank Paulson, Ben Bernanke, - all wrong about everything!"  Siding a bit with Christina Romer, Warren says he is confident that unsecured lending in 2008 would have led directly to liquidity and could have avoided the TARP panic and bail-out bedlam.

Post-Election Mortem:
Warren collected 11,261 votes to "Show" for a third place finish with 1% of popular vote, behind Dick Blumenthal (D, Winner) and Linda McMahon (R, to Place).

In his campaign, Warren proffered a plan featuring an immediate federal stipend to the states @ $500/capita, a payroll tax holiday for employers and workers, and a government paycheck at $8/hour to anyone not already employed, thusly:

The Mosler plan empowers the government to provide public service jobs without limit to anyone willing and able to work in a region with devastating unemployment. By providing a means for the government to employ all the labor that is currently idle in the public sector until private sector demand for labor increases, a peaceful and prosperous environment is promoted. And throughout history a government that can provide full employment and prosperity has always commanded the respect of both its citizens and the world at large.

This was Warren's prescription for the effective 20% unemployment in the US - and identically for the 30% (some say over 60%) among Palestinians.  I disagree that the government can nor should be in the business of creating jobs - although if you convince me that the only alternative is to give the money away as welfare & unemployment benefits, then I could support this idea as a more practical, productive alternative.

Warren Mosler - President, USA (2012) - with his Mosler Consulier and MT900

MOSLER'S LAW: "There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it."

 See Also: Economics Romp