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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (100824)8/14/2009 10:42:54 AM
From: Hawkmoon1 Recommendation  Read Replies (1) of 116555
 
Mish,

I hope I'm asking a fair question here. I think we both share a healthy disdain for the manner in which the stimulus package was put together.

But I'm curious as to what you would do, keeping political considerations in mind, to confront the deflationary pressures.

My view is that without confronting unemployment directly, the debt markets will continue to collapse as borrowers default. Maybe the debt bubble is excessive, but I don't see it as desirable to just permit it to collapse, given the economic consequences.

But I don't believe we can just continue to employ people in non-productive industries where we're competing with low-cost Chinese labor. We need employment in areas where it increases our country's wealth and advances us into a new higher tech economy (nano-materials or a renewed space program?)

The government's job, IMO, is to orchestrate national economic and technical priorities that cannot be better organized by the private sector. The space program is a perfect example of that, IMO. It is also tasked with investing in its people, via job retraining opportunities.

Of course, all this is premised by my belief that economic ideology should serve the people, not the reverse.

Would be interested in your ideas.

Hawk
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