Admittedly, I am new here. So because I am new I am going to put my foot much further in my mouth than some of my critics, probably thought possible. I have just watched Governor Jennifer Granholm's State of the State Address here in Michigan for the second time, and I believe now as I did back in the summer of 2009; that it is possible and feasible for the government, state federal and local, to create public financial instruments indexed to the price of oil, gold, batteries or even Green Technologies that can be traded as either options, forward contracts or futures on the open market.
Undoubtedly a risky proposition, the recent extremes in bonus return for companies such as AIG and Goldman Sachs would, however indicate that some sort of public contractual relationship is, at least, theoretically possible. Therefore I put to the reader the question: if a formula that works so well for the private sector continues to be successful in an economy where 15% unemployment is almost stock and trade why can't some kind of adaptation of that formula also work for the Public Sector that desperately needs the same kind of return on their investments?
Perhaps an agreement could be worked out with Wall Street wherein their tremendous bonuses could be excused if they could consult and advise on a comprehensive strategy where the stochastic formula which yielded them such great returns could be applied to the private sector in terms of providing some modicum of economic relief and or surplus.
In this day and age intelligence and education is for all intents and purposes relative both in terms of pragmatic concern and, unfortunately, political expediency. If our combined education and knowledge has indeed brought us to the point where the only "good" ideas can come from those whom established punditry has deemed correct according to either the MLA or APA or some other editorial standard, then, obviously, this idea has no merit. Yet the fact remains, from the realm of human endeavor, our current situation did arise and as we go forward, the solution to our difficulties are inexorably connected to the origins of all of us: education and correctness notwithstanding.
All systems move towards the simplest order. It remains for us then to choose precisely what that final simplicity is to be.
Tom
Ann Arbor