While the government is propping up Wall St. Let’s all prop up Main Street

May 12, 2010

For most of history our economy was build on a solid foundation of products and services from companies that had real, hard assets.  Over the years we have moved from a manufacturing/blue collar economy to a self proclaimed information/white collar economy.

This migration has be documented and glorified by many books and magazine articles over the years.  It was praised because it meant better, higher paying jobs.  It was believe that it would leverage our core strengths, creativity and innovation.   But somewhere along the way we got lost.  We took the “service” idea too far.  The “product” became an empty shell that moved money around spinning off fees without creating any tangle assets.  In short we got to greedy.  Or at least some of us did.

The some of us that didn’t are those who characterize Main Street.  Main Street is a place made up mostly of like minded people who believe in lending a hand, not giving a hand out.  People who invested in each other for the common good of the whole.  The businesses that line Main Street are primarily small business.

In these troubled economic times where everyone seems to be getting a hand out, all small businesses wants is not to get cut off at the knees.  Maybe you know of a small business who has had existing credit reduced or new credit refused.  Seeming out of the blue and for no other reason than the lenders are scared.  Scared of what I ask?  It wasn’t small business that put us in this state.  In fact the businesses that got us here are having money thrown at them.  Maybe you own or run a small business where this has happened.

What can be done about this?  I think the solution begins with moving away from Wall Street and back to Main Street.

My next entry will explore some ways to do that.

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