...and another thing...
Why doesn't the Government just pay off the mortgages of people who are struggling, but trying, to make their house payments? That way, the banks get their money, and the folks who at least try to make their payments get real help. It's almost like the government doesn't trust people with their own money, like there is this big club of politicians and business men who move in circles far above those of the common people, just using us. It's just insane. Give the people the money, let them pay off their credit cards, their mortgages, buy new cars. Then there will be an economic rebound while the industries get their act together.
Posted by Surly Dave on
Friday, October 3, 2008
In other words, if you allow an ordinary post-bubble deflation (as our nation had after every war until WWI, for example), you give up the pretense of the government controlling the economy "for our benefit." This is not about how the economy will survive; it is about how government (mis)management of the economy will continue.