The response was so good to last week's survey question I decided to ask a question each Thursday. The Thursday survey. Thurvey.
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What is the answer to the economic crisis?
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Cookies! ...or maybe that's the answer to my stomach growling...
ReplyDeleteYou.
ReplyDeleteI think everybody needs a dog.
ReplyDeleteAn awareness that our level of consumption must decrease, our savings must increase, and we as individuals and a country have to realize that money is not free and make decisions accordingly.
ReplyDeleteI think that job creation is the most important thing. I believe that in order for job creation to occur, people have to start spending money, and in order to spend money they have to have money. This spending money usually comes from parents or jobs, usually parents with jobs. A large infusion of capital into the market (spending) was necessary to boost job creation. Since the private sector could not make that happen, it was very important that the government did. There is no doubt that the Economic Stimulus Package is not perfect, but what legislation ever is? I think that the package should have been larger considering that the value of the American economy is expected to shrink by trillions, but the government is attempting to bridge that gap with billions.
ReplyDeleteWhile the deficit is a long term concern, private and public entities around the globe are investing in the dollar thereby strengthening our purchasing power and reducing the risk of our debt. The dollar has gained about 25% against the Euro over the past six months. While the American economy is in a very bad place, we are still viewed as a safe investment relative to other currencies and markets.
It is funny to note that deficit spending was initially intended to occur as a response to economic crisis, say... the Great Depression? Somewhere along the way we lost touch with that fundamental of Keynesianomics.
I think careful spending -- particularly to create and save jobs and to incentivize (word?) investment in innovations. We probably could technically have done it for less than $787 billion, but I agree a "shot in the arm" was needed fast. The economic downturn escalated/deterioriated more severely in the fourth quarter of 2009 than was estimated. As for U.S. automakers, I think we need to let them go off the cliff if that's where they're headed. Something else will take their place, and if you believe if the power of the markets, they'll be going concerns in order to "make it." We should be careful not to subsidize things that aren't working -- whether in government or in corporate America -- with our taxpayer dollars.
ReplyDeleteHey, you asked.