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Written by Jim Jordal   
Wednesday, 15 June 2016

WHO ARE THE JOB CREATORS?

by Jim Jordal

 Yahweh stands up to contend, And stands to judge the peoples. Yahweh will enter into judgment with the elders of his people, And their leaders: "It is you who have eaten up the vineyard. The spoil of the poor is in your houses. What do you mean that you crush my people, And grind the face of the poor?" says the Lord, Yahweh of Armies. Isaiah 3:13-15 WEB

Every time the subject of political debate switches to jobs, you can count on conservatives to claim their friends in the upper socio-economic classes as the real job creators. Forget about Main Street America for anything except a constant clamor for higher wages, more benefits, job protections, and less work---it’s the rich who fuel the entire process by investing their great wealth in job creation and technological advances to further increase productivity.

A generation or two ago the claim that the wealthy fueled job creation had some truth to it. This, however, was before the outbreak of conservative, free market economics during the Reagan years of the 1980s. What happened was massive deregulation of the economy, allowing exploiters and others aiming at ending politics for the people to achieve power not experienced since the “Roaring Twenties,” and we all know what followed that exuberant phase of political and economic risk taking.

Job creation by wealthy producers seeking more profits began to end as owners realized they could make more money buying and stripping shaky companies of their assets, then turning the corpse over to someone else to dispose of. Producing goods for consumption simply could not match wild trading of productive assets as a profit center, and so the game was on.

In the wild orgy that followed trillions of dollars chased derivatives and other opaque and unsafe trading vehicles rather than being invested in Main Street with its lower but safer returns. Only about 15 percent of these trillions are available for job creation---the remainder swirl around the globe in financial activities barely describable to mere mortals.

So what have we? We have a world financial system shaking at its very foundations: interest rates near zero, the Fed afraid to raise rates because of fear of a new recession, banks uncertain of the future, and a stock market so shaky that even a small bit of unfavorable information sends it into decline.

Who does create jobs under the existing system? If you follow the financial news you’ll notice many big companies shedding jobs in a desperate race to maintain profits. But when you enter local establishments you’ll notice them seeking new employees and even raising wages, not because someone says they must, but because it’s necessary to get productive employees. It’s Main Street America and its hosts of small entrepreneurs that create jobs.

Somewhere along the line it may be that leaders will awaken to what God said several thousand years ago about public prosperity and its connection to governmental policy. Yes, Jubilee again provides an answer!

American economic prosperity is about 70 percent consumption-driven. If people don’t consume, prosperity derails. And how can people consume when they have no source of income? Yet we hear that most of the income gains in the present 8-year long recovery have gone to the upper one percent of citizens. So how can the people consume when greed coupled with bad information leads to markets that actually create such damaging distribution of wealth?

Jubilee would ensure adequate public purchasing power by periodically redistributing the productive resources of society. Back then it was land; today it would be natural resources including land, ownership of businesses, and even money through progressive taxation. Yes, it would cost the owning classes some of their wealth, but the overall results would help create a society with no permanent underclass, impervious to collapse through bad political decisions and greed, and a society truly fulfilling the words “with liberty and justice for all.”

This is what’s coming, so get ready for a national resurgence, not through human means, but through God’s promises.