No matter what people are calling it, it is a Depression. When money is stuck in constipated mode in banks, business is slow, and there are millions being laid off or under utilized for jobs, we are in a Depression.
The President and Congress have to do something. Already farmers who can’t afford water are going to let some of their crops go and have smaller harvests. That cuts into our food supply. People who are out of work cannot afford to buy goods, services or pay their bills. That will cause more companies to lay off or fold. I have a solution.
The solution is to get the money into the hands of the average person by doing something to get more jobs going faster. How about crash courses in skills that the government is still in need of? The government still needs computer programmers, attornies, technicians, engineers, social scientists and linguists.
We need the space race going again and fast. We need to get out of the Depression by uniting everybody together in a race for Mars. We need to get large and small companies funding so they can employ people and get the national economy, and by extension, foreign economies going.
Realizing it won’t happen over night, we all still need to live over the next six months to a year till things get going. If the President and Congress wanted to make a difference, the economic stimulus package should be $10,000 per family but even that would blow us out of the water in the long haul with inflation. A lot of American cities will be turning into ghost towns. Look at Detroit. People either will need to migrate out of their cities like in the Dust Bowl days or government needs to do something to get off shore jobs back in America.
There are a lot of problems going on internationally and I would expect our Administration to address them. The first priority though is to get an economic recovery going. Everybody can talk and think clearly when they have a roof over their head, some clothes on their backs and food on their tables and stomachs. If people are going to be hurting in one of those three areas they will make bad decisions and we don’t want things to drop into chaos.
I am hoping the infrastructure programs take off and lead to more programs and work. We need to rebuild our roads, dams, etc – long time readers know that is one of my harp points. My concern is that the execution of the plan will not be co-opted by corruption and the money not getting to employ people or by getting shoddy materials.
People, keep our politicians accountable!
On a skewed note, I was watching on 60 Minutes that they were showing studies where people who are hungry and eat less tend to live longer lives. I am going to take a cue from that and maybe start watching what I am eating and cutting my portions down even more than I am doing now. I walk 1.5 – 2 miles a day and I know that watching one’s diet is an important thing to take care of as well if one wants to have a profitable life.
Keep those questions and comments coming, folks. Anything I can do to help – ask away.
Be safe, happy, healthy, wealthy and wise.
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Kim Isaac Greenblatt
I am calling it – we are in a Depression
Tags: Business, depression, jobs, money
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[...] Uncle Sam wants you to party. The Federal Reserve said on Wednesday that they are going to spend up to $300 billion buying up long term government bonds. This will be spent over the next 6 months and is an experiment in trying to lower rates on mortgages and consumer debt and taking us out of our Depression. [...]