As many regular readers know, I’m not a big fan of recent “economic stimulus” efforts. They tend to be band-aids rather than solutions. And Jennifer Hofmann at My Organized Biz asked me what I would do.
So here it is:
There is no way for the government to fix the economy. And it can’t happen in a short period of time. These things are cyclical. Downcycles are inevitable. Trying to prevent them at all actually makes the economy more unstable, as we’ve seen since the last economic stimulus a few years ago (during G.W. Bush’s first four years). But if the government …read more

If you read this blog, you know that I have really been annoyed with the way the “fixes” to the credit crisis are headed. A mortgage rate freeze that will have us back to this point later, Fed rate cuts that encourage inflation and now a liquidity plan that further aims to put an inadequate band-aid on a gaping hole gushing with blood.
I personally think that some sort of nationalized standard of lending should be developed. You know, one that requires that someone be able to make payments on a mortgage — even after the rate resets. And I certainly …read more