Will The Economy Dance?

The powers that be want to stimulate the American economy. The question is, will the economy respond? You can play the music, but it doesn't mean the economy will dance. The idea of a stimulus for the economy, particularly aimed at moderate and lower income people, and NOT aimed at the wealthiest Americans and their money managers (I'd much rather "aim" something else at them, but don't tempt me!), is not necessarily a bad idea. The problem is, it is only a start. Give people, let's say, $500 and it will help pay their mortgage or their rent or a credit card payment or two, but then, what do you do for an encore? The money is gone and the basic problems still exist. Many, many Americans are just in too deep and a few hundred bucks, while welcome, won't solve their problems, and their problems continue to weigh on this economy. Keep in mind that during the Great Depression, the unemployment rate hit about 25%. Also keep in mind, that means 75% of the work force had work of some kind. It doesn't take a huge percentage of the population to be hurting to drag down the whole economy.

Bush wants his tax cuts for the wealthiest Americans to be made permanent, since they are set to expire in a couple of years. It is said that the president goes to bed early, but if he has many sleepless nights, I've got to believe they are caused by his concern for the plight of millionaires and billionaires. He and his administration have stood by watching the wealthy gouge the public with exorbitant energy prices, never lifting a finger to try to quell the nonsense. When Secretary Paulson was on CNBC a couple of weeks ago and oil was about $100 a barrel, he was asked if oil should be that high. He had his chance to say, "No! No! No! I don't know what the actual price should be, but I know it is NOT anywhere near one hundred bucks a barrel." Instead, in what has become the typical fashion of this pro-business administration, he spouted the usual nonsense about prices being set by the "free market." Well, we're going to see if this economy goes as low as I think it will. At that time, the oil and investor barons will undoubtedly try to salvage their wealth, but they may be lucky to escape with heads intact. If I'm wrong, and I hope I am, any one of you can and should post a comment here telling everyone what an imbecile I am, and I'll agree.... well.. I'll kind of agree.