Posted by
Tim Blessing on Friday, April 04, 2008 7:28:10 PM
First and foremost, fire Bernanke at the earliest opportunity since he does not know what he is talking about.
Second, pass legislation expanding unemployment compensation up to a year if possible.
Three, people in the abstract world of economics say there is a recession.
Fourth, people in individual terms feel pretty good about their financial situation.
Fifth, we appear to be in a recession based on the indicators, but only the experts and the people at the margins feel it.
Homebuilding accounts for 10% of the economy the last time I knew its general economy value.
Home Equity Lines, Credit Cards, and other such instruments have been the source for my of our consumer spending.
If people are too deep in debt to continue spending then that mean's luxuries will face the ax are houses, then cars, and down the line.
Is there any way to prevent this recession, in the short run the answer may be no and we have to wait it out as it work's its way through the economy.
This will take a year or two. It will be painful and will require adjustments by the general public.
Movies instead of a fancy restaurant.
Patience instead of hitting your head against a wall.
Require one job search a week instead of two.