Blue Mass Group

Reality-based commentary on politics.

Life Science Initiative

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I will take the easy way out and just post my query here đŸ™‚

Life Science Initiative? What is it?

I read the May press releases and it all sounds nice, right up to the unanswered part about how it would be funded and where specificaly it would be directed … I am clueless on this one but I am hopeful that if I toss it out there we can start up a nice spirited debate đŸ™‚

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  1. “Life Sciences Initiative”

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    From what I can tell this “initiative” goes like this.
    From somewhere unknowable, Deval plans to round up 1 BILLION dollars in cash and then dole that money out to undisclosed unprofitable biotech firms in the faint hope that:
    1) they may someday develop saleable products
    2) should they create such products and actualy find a market for them, then they would continue operations in the commonwealth
    3) should these hypothetical products someday lead to the lucky company’s eventual profitabity, they would in turn get to pay taxes and create jobs without requiring further subsidy and thus justify the original investment in them.

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    Hmm …
    Let me think about this:

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    The first thing that comes to mind is that the commonwealth is strapped for cash. The BILLION dollars would likely require the sale of bonds and I wonder at this point what the credit rating of the commonwealth is. Would the credit markets even tolerate such a “vision”?
    The next thing that comes to mind is that the outsourcing trend seems to show that such companies while willing to hang around and draw subsidy, will if succesful,  move operations to more favorable environs like Ireland.
    Lastly , if this endevour actualy made sense why would it be left to government to make the investment in them? Isnt the system flush with venture capital? Wouldnt it make more sense to create an overall tax system favorable to ALL business rather then cherry pick which indutries we wish to supply CORPORATE WELFARE to?

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    So, should I call Sen. Baddour and voice opposition or does someone care to disuade my perception?

    • Yes, we think you should oppose this.  Bonds are a way for the rich investors to guarantee their return, while the billion dollars 100% comes from poor bastards.  There is no “credit market”, in that THESE bonds will get paid back, even if we have to default on the toll collectors pensions or stop paying local aid.  So yes, the “market” will tolerate it, because these guys are investing their own money in it anyway, so they’re happy to do it via buying these bonds, becuase Deval is promising to fleece somebody to pay them back, plus interest.  And for every bond they buy, they are also putting twice that much into stocks in the same companies, so they aren;t just making the interest, that’s just their own seed money, the real money will come from owning all of the stocks in the companies that we financed for them.

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      They should be paying US.  Why the heck aren’t we saying “if you want to take advantage of Massachusetts, with our schools, niteclubs, sterile robot workers and servile government, you have to pay fucking EXTRA.  We aren’t desperate.  The Life Science Initiative should be “let’s try milking life science investors for all they’re worth, if they want to take advantage of what this state offers.”  If they go to another state, congratulations, other state.  You get what you deserve.

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      And what, exactly, does “Life Science” encompass?  Is it more than health care?  Is it more than stem cell research?  Is it, as its name suggests, the science of creating life?  Shouldn’t we know if this means cloning, designer babies, same-sex conception, human enhancement, or any other controversial world-altering industries?  What exactly are the goals, and what exactly are NOT the goals?

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