GIVING TAX REBATES IS LIKE TREATING CANCER WITH ANTI-INFLAMATORIES...!
WRONG MEDICINE FOR THE DISEASE...
THIS WILL ONLY MAKE THINGS WORSE...MUCH MUCH WORSE!
THESE TAX REBATES WILL BE SAVED ....OR DEPOSITED IN THE BANK OF CHINA ....IN THE FORM OF ADDED TRADE DEFICIT....ASAP!!
THEY WILL NOT SOLVE THE PROBLEM OF YEARS AND YEARS OF HYPER-LIQUIDITY...THAT WAS CONFINED TO THE "WALL STREET SECTOR" OF THE US ECONOMY...
WHILE CONSUMERS AND THE WORKING CLASS SECTORS OF THE ECONOMY WERE STARVED INTO SUBMISSION....BY LOW WAGES AND EASY CREDIT...ESPECIALLY WITH THE RECENT MASSIVE HOME EQUITY DEBT OVER-HANG...
IN SHORT AMERICA BECAME AN "ASSET BASED" NOT A "PRODUCTION" OR "INCOME BASED" ECONOMY... THIS HAS NEVER BEEN TRIED AS FAR AS I CAN TELL...AND IT FLIES IN THE FACE OF ALL ECONOMIC RATIONALITY...!
ALAS, THE TROUBLE IS JUST STARTING... THERE IS A LONG LONG WAY TO GO...
THE SOLUTION WILL BE A RE-DISTRIBUTION OF INCOME...SINGLE PAYER NATIONAL HEALTH CARE...SOME PROTECTION FOR AMERICA'S NEW "INFANT INDUSTRIES" ALAS...LIKE A BABY WE HAVE TO START ALL OVER AGAIN!
AND PROBABLY A PERIOD OF INFLATION AND STAGNATION TO MIX IT ALL UP...INTO A VIABLE..."NEW PARADIGM."
WHY A NEW PARADIGM...BECAUSE THE OLD ONE WAS AN ECONOMIC ABOMINATION! THAT'S WHY...
