Federal Reserve Bank of New York | Photo by Kidfly182 via Wikimedia Commons
Part XXIX: “Florida, the State of the Future” Series
Indeed, President Biden can begin — with the participation and support of plain folks — to “reinvent” economics and achieve socioeconomic progress for many states, beginning in Florida. And include American territories such as Guam, Puerto Rico, and the U.S. Virgin Islands. At the same time, he can push economic growth for many countries like Mexico, especially in the Third World, like the Philippines. It will probably be the most significant legacy of any president.
As this columnist wrote in the Jan. 23, 2022, episode of The Straphanger, “For all the Biden’s detractors and opponents may care, the President may just adopt an old naval slogan. Remember the ‘Damn the torpedoes, full steam ahead’ — as originated by David Glasgow Farragut? He said it, as a flag officer of the United States Navy during the American Civil War and who became later the Navy’s first rear admiral, vice admiral, and admiral.”
The above paragraph appeared in the Part XXXV of the “EDEN America” Series entitled “Mr. Biden Can Change Politics by Having ‘ANGELS’ to Reinvent Deserts and Rivers.” For latecomers, they can still read that series’ episode at this link:
The truth is that whatever the results of this Tuesday’s elections are, President Biden will still control the Executive Branch of the U.S. federal government for the next 25 months (excluding November 2022 and the first 19-days of January 2025). How? If he follows Admiral Farragut’s slogan, he can create concrete plans and programs without obtaining the approval of the U.S. Congress and/or the U.S. Supreme Court.
This column suggests to President Biden the formation of Public-Private Partnerships (PPPs) that will be registered as public-benefit corporations, cooperatives, or foundations. It was also suggested to the American policy and decision makers to persuade the rank-and-file and bosses of labor unions to become “labor co-ops.” Then all the co-ops — state by state — should later form federations that can organize their credit unions. Their financial firms can answer plain folks’ financial needs and establish their own credit cards, student loans, and other financial tools. This way, the co-op federations can effectively make payday-loan companies and pawnshops disappear with their usurious interest rates becoming history.
“The truth is that whatever the results of this Tuesday’s elections are, President Biden will still control the Executive Branch of the U.S. federal government for the next 25 months (excluding November 2022 and the first 19-days of January 2025). How? If he follows Admiral Farragut’s slogan, he can create concrete plans and programs without obtaining the approval of the U.S. Congress and/or the U.S. Supreme Court.
And also establish medical centers and universal-healthcare components as PPPs — with the state-and-federal agency, the medical staff (employees), and the member-subscribers (public) owning one-third each of the entire equity or ownership. It is the shortcut to achieving a BidenCare that should dwarf ObamaCare.
As this journalist has been writing, the main problem with capitalism is the lack of capital among the workers and the public. Suppose the workers form viable cooperatives and their co-ops join the PPPs. In that case, the Federal Reserve Bank (FRB) can be persuaded by The White House, the press, and public opinion to give financial support by buying “cooperative bonds.” If the FRB (the American equivalent of a Central Bank) can purchase “corporate bonds,” why can’t it buy and bankroll “co-op bonds”? What more if a government agency owns the co-op, the employees, and the public — at one-third each of the total equity? The result will end “Crony Capitalism” and usher in “Co-op Capitalism.”
Perhaps President Biden can initiate a Cooperative-version of Wall Street that is limited to buying and selling co-op stocks exclusively for co-op members. The POTUS’s family name may eventually be renamed “Buyden” — if the co-op stock exchange clicks down the road.
“The main problem with capitalism is the lack of capital among the workers and the public. Suppose the workers form viable cooperatives and their co-ops join the PPPs. In that case, the Federal Reserve Bank (FRB) can be persuaded by The White House, the press, and public opinion to give financial support by buying “cooperative bonds.”
Two years (the entire 24 months of 2023 and 2024) will be more-than-enough time to start and do another Biden’s Moonshot by launching rapidly “People’s Economic Revolutions” (PER) in all the states and U.S. territories. He has the rest of this month and December 2022 to lay down THE vision of the PER. And end divisions among the different competing groups in the United States. And Mr. Biden does not have to announce that he wants to seek a second term. He will have to wait for the people’s co-ops to call on him to run again in November 2024.
To be realistic, not all counties — especially in the Red States — will be over-enthusiastic about the PER idea in the beginning. But once the plain folks see the ideas being implemented (or even slow positive changes), they will become Mr. Biden’s supporters. It will become more of an EVOLUTION rather than a revolution. After all, many Republican leaders do not care about the masses. They often care only about millionaires and billionaires. And soon, they will care best for “trillionaires” (sic).
Remember that this columnist said in the 2015-2016 primary season that the GOP then meant “Gutting the Old and the Poor.” Perhaps Baby Boomers may want to become at their senior years “Baby Bloomers” (as this journalist coined it also).
By this coming Wednesday, The Straphanger will revisit its proposals for the U.S.-Mexican border (and at the same time assist Mexico to become the fifth-biggest economy in the world by 2050), save the state employees’ pension fund, the U.S. Postal Service and other financially-strapped public-and-private companies. And even provide water to aquifers and turn deserts in North America green by tapping the Mississippi River and its tributaries and other bodies of water in the Continental United States.
This columnist will also discuss how nearly five million Americans of Filipino descent can invest in the Biden-initiated co-ops at the rate of more than nine billion dollars per annum for the next ten years. Or even for the next two decades.
Yes, President Biden can, at his very best, initiate the conceptual framework of approach for solving many of the country’s problems before Thanksgiving. And at the same time, help North America, the Caribbean, and the rest of the world — with the enthusiastic support of the plain folks for the rest of 2023 and 2024. And beyond.
How’s that for an encore, Mr. President?
