Paul Krugman notes, once again, that consumers are over-due for a tight spell.
What is weird, today, is that we are having a discussion about whether we ought to do stimulus, instead of how. This is old politics. Post election, we may have a once in a generation opportunity to actually 'think outside the box', to really reach for New Frontiers.
We were more creative in the aftermath of the Iraqi invasion, for pity's sake, with a flood of ideas coming about how the Iraqis ought to structure their oil wealth. Our current lack of creativity is, no doubt, attributed to a lot of politicians unable to think in terms of transformative politics.
We ought not to forget that any Obama tax-cuts will be stimulative, but will not help those who are not on the tax rolls, anyway.
Here is a radical idea on how to 'stimulate' the economy: find a way to cut everyone's cable bill by $40/month. Believe it or not, $40/month is a lot in a budget that needs to pay down credit-card "over borrowing".
Saturday, November 1, 2008
Bold Leadership, Not "Another Stimulus"
