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It is too bad that the politicians in Washington of both parties did not take the simple and easy action of giving a stimulus check as $10 or $20,000 per legal adult citizen. Such a move would have had the immediate result of lowering consumer debit, increasing even if temporarily savings rates and in a consumer based economy provided an inrush of business that would have trickled UP to the big institutions. It would also not have cost $700-Billion.
It is stunning that the powers that have been elected do not understand that if you are going to have a consumer based economy you must have consumption. The current plan simply does not address this in any way other then to protect the institutions that generated the problem by enabling the consumer to dig out the foundations they are sitting on. Any business that fails, should fail, GM for example has mismanaged itself into its current position over two decades.
That a consumption economy is not and never has been sustainable is yet another problem that MUST be resolved, perhaps the 2012 administration will address it as a matter of national security. Without a, predominate manufacturing base this once great nation will be only a legend and example of shortsighted politics.
posted 4 years, 6 months ago
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