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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (109592)3/15/2010 9:47:52 PM
From: Sweet Ol7 Recommendations  Read Replies (2) of 116555
 
Mish, you are right most of the time,but you are wrong about the Interstate highways. Being older than you I remember before and after.

First, one of the the prime missions was the ability to move troops rapidly in case we were attacked by Russia or China, which seemed to be a real possibility in the later 40's and early 50's. Also, they were designed to be used as emergency runways. You can't say that those missions failed. You can ask whether or not they were important missions, but not that they failed.

Secondly, I have traveled all over the USA by car before and after the Interstates. Let me tell you it is so much better now! Also, industry and businesses were able to decentralize and bring prosperity to the center of the country and not just to the big cities on the two coasts. That has been a huge economic success. Can you imagine what life here would be like if all the industry stayed in the 10 largest cities and they became 5 or 10 times as large as they are now with all the urban problems. I think making our population density more homogeneous has been a very good thing. (Disclosure: I live in fly-over country!)

I am a rock-ribbed fiscal conservative but I believe that the post WWII GI Bill and the Interstate Highway Act were two of the prime movers for our economy in the last half century. And that is not to say that both of them were not rife with graft and corruption!

Blessings,

JRH
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