Brian Marggraf, Author of Dream Brother: A Novel, Independent publishing advocate, New York City dweller
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International Economic Affairs & Relations / Regional & International Organizations / Global Commerce & Business
So how come the economy grows? We only got $100 in the whole country, and everyone argues and steals, and grabs the same $100? We cannot afford to have babies born. The ecnomy cannot grow, and there is no more money. But wait? Our President will PRINT MORE MONEY! How can he do this? There is only $100 in our country, and Romeny stold it! Thanks for the brilliant understanding of why liberals cannot understand that the growth of population can actually INCREASE AND GROW THE ECONOMY BY CREATING MORE GOODS AND SERVICES! If you get a raise, then someone is starving in Africa because of you! Shame.
The economy grows, as you correctly stated, by the creation of goods and services that are paid for by middle class working people who work at hard jobs to get their pay. My comment was directed toward the concept of private equity, per se, which is a zero sum game. What private equity (who really are leveraged buyout experts) do is to seek out undervalued companies, which are purchased at under market prices. They increase the debt of the companies and sell off the good assets to buyers. The rest is junked. People lose jobs, current shareholders take it in the ear, and the overleveraged companies are usually destined for failure once the private equity gets their exorbitant fees and sell out. BTW, I was a managing director of several major investment banks and ran a private equity fund. But my fund was different, we were not a leveraged buyout firm, we used our investors money to build infrastructure in Subsharan Africa.
Everyone in the USA wants to buy stuff on sale or at distressed prices. That is the American way. People flock to garage sales, estate sales, and bank foreclosure sales. Somebody wins, somebody loses, somebody breaks even. Don'[t view morality into this since nobody is getting killed, robbed, or swindled. The seller wants to get out, and the buyer wants to get a deal. If a company or seller is in a strong position, they get a better deal. Don’t read any moralitly into this or any sainthood for Democrats because they paid more for Solyandra that was bankrupt.