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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (107834)	2/4/2010 3:54:47 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116555

I am in favor of contractors. In fact I am in favor of outsourcing every job that needs to be done. The key is defining what jobs need to be done and what role government has in making those decisions. Glad we agree on that. And regarding what role the government plays?? Well.. as Shakespeare said.. "There lies the rub".. There was a period in our history where government was a force for taking on projects that, everyone agreed, were economically beneficial, but the private sector couldn't finance. The TVA resulted in flood control in the Tennessee, as well as providing the enormous power generation that resulted in tremendous economic development in that region. Hoover dam created power and water for S. California, Nevada, and Arizona. Military R&D during WWII and afterward resulted in jet passenger liners. Nuclear power? We sure could use more of that, IMO. And if we're fortunate, maybe we'll see Fusion power become a reality in the next few years. That's going to require major government backing given the business risk involved. Space program.. Huge economic benefits, not to mention fueling the dreams and aspirations of millions of young people and creating national pride. Internet? Well.. here we are. One of the most incredible examples of economic productivity. Material sciences? Nanotubes are just the beginning, IMO. Alternative energy? Well.. it's still not quite "there", but we're getting closer. Ultra-capacitors could be the next huge "megatrend" that would free us from dependence on fossil fuels forever. We could go on and on. I'm looking for a role that government can play that actually lays the foundation for future economic productivity. Projects that the private sector can't find the profit motive to commence. Hawk