On Sept 6th I posted a comment on the following Blackhawk Partners, Inc. blog thread titled
“Why You Should Prepare for a New Wall Street Order….” By Ziad K. Abdelnour, President & CEO Blackhawk Partners, Inc.
The Wall Street “Masters of the Universe” are soon to be old history folks. The chickens are indeed coming home to roost, the Global Banking Cartel’s crimes are being exposed left & right… Prepare for my upcoming book “Economic Warfare” due in December of this year which will trigger it all. To start with, the Federal Housing Finance Agency (FHFA), filed last week a $196 Billion Lawsuit against 17 financial institutions, — to see the complete Blackhawk Partners discussion thread and my comments check out http://blackhawkpartners.com/Blog.aspx?id=79
My view is, while today’s challenges are significant and Ziad K. Abdelnour’s posting provides excellent insights and a sobering perspective, creative entrepreneurial policies and programs can provide a powerful tool to jumpstart our economy and will help us create a new positive vision to develop a new ‘economic world order’. Here is a copy of my comments
Paul B. Silverman said…
Ziad Excellent insightful perspective – thanks for sharing and I also look forward to your book. I am also pleased to share my comments. We have significant ‘clean up’ to do as you suggest and agree on the new world order. Today’s European banking issues look like more ‘tips of the iceberg’ of many of the issues you cited in your posting. To help us move forward and provide an economic ‘uplift’, I do believe that a national commitment focusing on emerging entrepreneurial firms can and should play a role here. We look at best practices pursued in many countries committed to helping their emerging business sector and see the economic growth results. I believe our comparable efforts deserve a failing grade and this impedes our economic growth. The numbers tell the real truth and I believe provide insights into where we can find our economic growth ‘lifeboat’ as we work towards a new world order. Here is my view: • Most new jobs in the business sector are created by major corporations. False. Most new jobs are created by entrepreneurial companies that have less than 500 employees- that is a historical fact. SBA statistics show that during the past 15 years, firms with less than 500 employees accounted for 64 percent of net new hires in the U.S. and pay 44 percent of the U.S. private payroll. Exact percentages may vary year to year but these are the facts. • Most technology innovation is driven by R&D within major corporations. False. Smaller, entrepreneurial firms really provide the rocket fuel driving our technology innovation engine. SBA statistics show small firms produce 13 times more patents per employee than large patenting firms; and these patents are twice as likely as large firm patents to be among the one percent most cited. • Most U.S. trade is driven by major corporations. True and False Major corporations do account for the bulk of U.S. exports, representing 71.1 percent of total exports in 2006. But of the total number of firms exporting goods and services, 97.3 percent of the total were entrepreneurial firms with less than 500 employees. And in 2006, the entrepreneurial firms with less than 500 employees accounted for 28.9 percent of the total $910.5 billion in U.S. exports. The above is counter-intuitive to many and I find not mentioned often in the media. Entrepreneurial, smaller firms are really fueling our nation’s job creation and economic growth. Many nations – China, India and even Canada among many others understand these numbers but we have been slow to respond and are paying a price. Let’s propose and implement new policies that help drive growth of emerging entrepreneurial firms- that will drive economic growth and maybe help shape our new world order. I may be more passionate than most about the economic leverage and value creation that entrepreneurial-driven policies provide. I do have vision here which I am discussing in many forums. Comments welcomed.