tigernar
10-20-2008, 08:34 PM
A week and a half ago I sent this to the American Fed. I didn't really hope to get any answer, but I thought it would be worth trying anyway:
Dear Dr Bernanke How are you? I hope the financial crisis doesn't take too much of you. Please take some time to take care of your wife and your kids while you are trying to save the economy. I'm writing to you to help you solve this crisis, I do know that it sounds crazy, that I as an 18 year old boy from Norway that haven't yet finished the first year of the International Baccalaureate at Waterford Kamhlaba United World College of Southern Africa, Swaziland, should try to help you. However, I think the American economy now need some real increase in manufacturing, and in times with high oil prices that limits transport, and thus economic growth, what would be better than a huge investment in (high speed) railways domestically in the US? There are several reasons for that becoming a success; first of all this will employ a huge number of people, thus reduce unemployment. Secondly, machinery will be bought used from failing construction firms, thus limiting losses for banks that have lent constructors money. Third, this will become a long term effect, as the US build up its infrastructure and in the same time manufacturing capacity for products that will have increasingly demand as oil prices rise again (they will); high speed infrastructure and high speed trains. I, as a newbie in economics (IB course) would say that there is nothing that supports growth and development in a country so much as production of infrastructure domestically. If this sounds too futuristic I can tell you that we might be able to start construction of the infrastructure in no more than two years time, under the condition that this get proposal get approved as soon as possible. This means that in seven years time, the US will have its first high speed (>300 km/h - > 180 mph) train rolling. There is already plans for corridors in most parts of the US and we only have to plan these in detail, of course some sort of help from the federal government would be necessary when it comes to the details of the corridors. Help to do this planning we might get from Europe, i.e. Deutsche Bahn, RFF and Renfe, and Japan. When it comes to financing, I hope to get your help. I think that by make sure this project get a good amount of cheap financing, you will help the American economy much better than just transfer loans between banks and government institutions. This because the problem is in the consumers hands; they've borrowed so much that they can't borrow more to spend more on consumer items, thus the economy stops! Therefore, the best solution is to give them jobs. Please tell me if I'm wrong. Does this sound interesting Dr Bernanke? If so please reply to me by the end of this week, or I will publish this as an official letter and solution to the economic problems of the US. If you do reply I will provide you with more information.
Sincerely yours
Tørris Aalbu Rasmussen
High speed trains enthusiast and Norwegian student in Swaziland
This is the standard answer I got:
Dear Mr. Rasmussen:
Thank you for your recent correspondence to Chairman Bernanke.
The Chairman receives a great number of letters daily. As a public figure with many daily responsibilities, he is unable to reply to all of those letters personally or to acknowledge receipt of each correspondence. However, he appreciates receiving observations and advice that bear on the Federal Reserve's responsibilities, particularly from people who have concerns about how the economy is functioning.
Again, thank you for taking the time to share your thoughts with us.
Sincerely,
JPD
Board Staff
I wasn't successful this time, though today Mr. Bernanke said he wanted more government spending.
Anyway, what do you think about this idea? Do you think it would have worked?
Dear Dr Bernanke How are you? I hope the financial crisis doesn't take too much of you. Please take some time to take care of your wife and your kids while you are trying to save the economy. I'm writing to you to help you solve this crisis, I do know that it sounds crazy, that I as an 18 year old boy from Norway that haven't yet finished the first year of the International Baccalaureate at Waterford Kamhlaba United World College of Southern Africa, Swaziland, should try to help you. However, I think the American economy now need some real increase in manufacturing, and in times with high oil prices that limits transport, and thus economic growth, what would be better than a huge investment in (high speed) railways domestically in the US? There are several reasons for that becoming a success; first of all this will employ a huge number of people, thus reduce unemployment. Secondly, machinery will be bought used from failing construction firms, thus limiting losses for banks that have lent constructors money. Third, this will become a long term effect, as the US build up its infrastructure and in the same time manufacturing capacity for products that will have increasingly demand as oil prices rise again (they will); high speed infrastructure and high speed trains. I, as a newbie in economics (IB course) would say that there is nothing that supports growth and development in a country so much as production of infrastructure domestically. If this sounds too futuristic I can tell you that we might be able to start construction of the infrastructure in no more than two years time, under the condition that this get proposal get approved as soon as possible. This means that in seven years time, the US will have its first high speed (>300 km/h - > 180 mph) train rolling. There is already plans for corridors in most parts of the US and we only have to plan these in detail, of course some sort of help from the federal government would be necessary when it comes to the details of the corridors. Help to do this planning we might get from Europe, i.e. Deutsche Bahn, RFF and Renfe, and Japan. When it comes to financing, I hope to get your help. I think that by make sure this project get a good amount of cheap financing, you will help the American economy much better than just transfer loans between banks and government institutions. This because the problem is in the consumers hands; they've borrowed so much that they can't borrow more to spend more on consumer items, thus the economy stops! Therefore, the best solution is to give them jobs. Please tell me if I'm wrong. Does this sound interesting Dr Bernanke? If so please reply to me by the end of this week, or I will publish this as an official letter and solution to the economic problems of the US. If you do reply I will provide you with more information.
Sincerely yours
Tørris Aalbu Rasmussen
High speed trains enthusiast and Norwegian student in Swaziland
This is the standard answer I got:
Dear Mr. Rasmussen:
Thank you for your recent correspondence to Chairman Bernanke.
The Chairman receives a great number of letters daily. As a public figure with many daily responsibilities, he is unable to reply to all of those letters personally or to acknowledge receipt of each correspondence. However, he appreciates receiving observations and advice that bear on the Federal Reserve's responsibilities, particularly from people who have concerns about how the economy is functioning.
Again, thank you for taking the time to share your thoughts with us.
Sincerely,
JPD
Board Staff
I wasn't successful this time, though today Mr. Bernanke said he wanted more government spending.
Anyway, what do you think about this idea? Do you think it would have worked?
