If the problem is that we off-shored our production away to China and became a nation of real-estate brokers that just borrow the money from China and sell homes and mortgages to each other then I think the fix of the problem will be that all those fat-assed people seating behind glass doors in various agencies lose their jobs, foreclose their homes and go to factories and start assembling a new generation of fuel-efficient cars and windmill electricity generators.
And the new generation will know that if you want to live well you need to work with your hands or your head and not flipping real estate.
The robber barons, pirates though they may have been, created tangibles like railroads, oil companies, and steel mills. Real estate flippers create little if anything new while investment banks selling CDOs cubed and SIVs create precisely nothing. It’s just all air and hype.
I agree, let’s get together and start creating and building fuel-efficient cars and clean, renewable energy. There will always be a need for investments banks to make loans, but at the end of the day, dare I say it, maybe they’ll feel good because they funded clean tech and helped create something tangible and meaningful.
Maybe all those unemployed flippers and real estate folks can help market and distribute clean energy products . Hey, they could take internal combustion cars and flip them into biodiesel or EVs or refurb old buildings into ones that are lean and green. Those would be really useful flips indeed.