Creating Jobs in America

With so many Americans out of work, what can our government do to turn this ailing ship around?  They’ve tried buying back our own debt twice to keep interest rates low, but businesses aren’t biting.  Why are they so hesitant and what will it take to defrost our frozen economy?

Most people believe that the financial crisis of 2009 was caused by poorly trained mortgage sales people who managed to successfully game the system.  However, did you ever wonder why everyone was a victim of the financial crisis, while no one was really held responsible?  Perhaps the crisis was caused by something far greater than by a few anonymous and unscrupulous bankers.

Since the early 1900‘s our banking system has never really changed much.  Deposit slips, checks, and even loan applications look and read the same.  Compare this stodgy business model of banking with the jet-setting, super-efficient, internet-based business environment that we live in today.  Can you see the difference?  Our slow and antiquated banking would be similar to using a 300 baud modem to surf the web today or racing in the Tour de France with a child’s tricycle. Unheard of, you say… and that is precisely my point.  It was only a matter of time before our economy would collapse due to the disequilibrium created between a rapidly changing business climate and the antiquated financial system used to govern transactions and monitor financial integrity.  Another visual might be a person trying to drive a car while pressing both the accelerator and the brake at the same time!  Either way, the economy or a bumpy car ride, the experience would be less than reassuring.

Similar to banking, the lack of qualified workers is another reason our economy is anemic.  There are plenty of high paying jobs but the majority of our workforce is essentially unemployable.  You can blame the unemployment crisis on overseas outsourcing or outdated training centers, but the solution for creating jobs in America may lie elsewhere.  For example, rather than focus attention on helping small business owners improve individually, through SBA loans or business training classes, policymakers could leverage existing business expertise, especially among investment bankers, to identify international supply chains where US-based small businesses can participate.  The required work would be second nature to a well trained M&A specialist and could help introduce new levels of efficiencies among small business owners, such as from fewer bankruptcies through better business alignments.  It could also be the optimal scenario for more sustainable jobs in America.  Hmmm… Interesting?  
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