Free Markets and Better Credit Policy Will Help Economy

CFO.com’s survey of CFOs reveals that some are getting beyond energy prices (which probably can’t be changed) and tax policy when it comes to what they would talk about with the next President of the United States:

Kurt Kuehn, CFO of UPS is concerned about “protectionist measures that might impede trade flows.” The incoming president “must realize that Fortress America won’t be competitive long-term.”

…”It’s really important that the consumer has the right amount of funds available for them to be able to live their life comfortably,” said John Richardson, the CFO Qwest Communications International.

These issues are near and dear to my heart. Kuehn seems to say that the idea of a free market must apply worldwide. I agree wholeheartedly but ALL nations must cooperate or it won’t work. Richardson’s quote doesn’t say it but leads me to believe that the credit industry has been poorly managed resulting in lack of money for good borrowers at low rates. I believe that the credit industry is out of control and we need to pass laws outlawing exorbitant rates and lending policies that do not consider a borrowers long-term ability to pay.

These improvements in free market and credit policy will help establish a stronger economic base for the long term. Do you agree? Do you think that tax policy is equally important?

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