Thursday, May 28, 2015
What a bunch of crap
The following post was prompted by the fasctcoexist.com article linked below.
Decades later, after a grand parade of tax breaks, incentivizing, and playing the states against each other for the best deal on regulation, as well as taxes, we have this supposedly new idea for an investment fund for cities still "economically challenged."
As the article states, there is a lot of untapped capital sloshing around the world looking for investment opportunities. Why not create a new kind of venture capital fund to channel that money to these "e. c." hot spots; with, of course, more incentivizing to make it worth the while of said overly cashed investors.
The poor dears. What's a well fattened fat cat to do when so much of what might ordinarily be an investment has so many uncertainties. You know, those pesky little details that all revolve around... Dare we even say it? Risk!
So much global instability. So many new potential regulation costs. And lets not even talk about the competition that overseas producers of what ever can throw into the mix. One could almost swoon for the days when interest rates made Certificates of Deposit so attractive; making money just by having it sitting there. Gosh...
One can only wonder how such people cannot even begin to see why cities can wither precisely because no one wants to take responsibility for keeping current infrastructure going, let alone investing in the latest tech to make it on par with the rest of the world. That they have these vast new gluts of cash precisely because they've been able to dodge such responsibilities.
Somebody call Vanna White because these folks desperately need to buy a clue.
Can We Turn Around America's Distressed Cities With Venture Capital And 401K Plans?