Posted: Mon Feb 02, 2009 9:33 pm
You're right. We've been taught to spend our way out of recessions or contractions but now we're an asset backed nation that's had it's largest asset seriously devalued, our homes. We've racked up debt and don't have the money to spend and nothing to borrow against to get more.
The only solution is to devalue the currency and shift wealth from the nation's wealthiest to the middle class consumer. That's my rational approach.
The next step would be to explain larger problems. How we should all live within our means, how we should keep a close eye on income inequalities, and how we should only borrow when we need to buy a house or when we think that we'll be able to invest the money in some way as to make more money than the original amount plus interest owed (aka: productivity).
In my opinion - something did our country a great disservice and it should be eradicated immediately. Whatever frame of mind led to this needs to be found and shown for what it can lead to.
What good is this disaster if the American people can't learn from it. We all need to learn that some type of behavior led to this. We all need to agree on it, acknowledge it, validate it, agree with the consequences, and grow. I think we're all still confused on why it happened and what needs to be fixed. Once the vast majority of us - 95% can agree that certain causes were responsible - will this disaster be worth it. We need to be united and confident.
Anything that can bring the country closer would be a good thing right now.
The only solution is to devalue the currency and shift wealth from the nation's wealthiest to the middle class consumer. That's my rational approach.
The next step would be to explain larger problems. How we should all live within our means, how we should keep a close eye on income inequalities, and how we should only borrow when we need to buy a house or when we think that we'll be able to invest the money in some way as to make more money than the original amount plus interest owed (aka: productivity).
In my opinion - something did our country a great disservice and it should be eradicated immediately. Whatever frame of mind led to this needs to be found and shown for what it can lead to.
What good is this disaster if the American people can't learn from it. We all need to learn that some type of behavior led to this. We all need to agree on it, acknowledge it, validate it, agree with the consequences, and grow. I think we're all still confused on why it happened and what needs to be fixed. Once the vast majority of us - 95% can agree that certain causes were responsible - will this disaster be worth it. We need to be united and confident.
Anything that can bring the country closer would be a good thing right now.