Command economies do succeed for a while. In a very stable environment where people work more than advance or change it can work. Thank you for the clarification Hank.
As andy said ours may be at the cross roads. I’m glad you too see the complexity. Normaly I’m far more to the point but economy is huge. I have few suggestons.
First fact – Public debt went up another 12 billion dollars in one day. Source:http://www.savingsbonds.gov/NP/NPGateway
April 2nd, 2009 $11,124,519,301,253.21
April 3rd, 2009 $11,146,566,832,297.33
Difference is a tad over 12 billion 50 million dollars.
First suggestion – forget TARP. Let those who where very prudent with their mony exchange their 6 or 8% fixed loan for a 3% fixed loan and move up into larger homes they can afford. Repete this for the next level of buyers. Then backfill the empty homes with with those who need them and can affored a fixed load with only 33% of their job income.
Lastly take the lowest homes and sell those to those on the public dole to fix up and improve their neighborhoods.
Sure the banks would loose some money – but not as much as their projected 98% write off.
Look at the spending on moving and new house supplies. It will not save catapillar or GM but can help others. Home ownership creats a better sense of personal growth and pride.
Hank I say this because we are all suffering. Some much more than others. If the governemtn is going to help peopel it should be fair and help everyone in a way that does help everyone.