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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: JohnM who wrote (46659)	1/23/2008 2:48:18 PM
From: slacker711	Read Replies (1) \| Respond to of 543192

you still don't agree with Stiglitz that (a) this recession is likely to be deep and long I keep thinking the market has discounted the length of the recession and I keep getting it wrong....you are going to have find another expert <g>. On part (b), I can agree that energy policy issues and providing more money for educational and highway infrastructure need to be well thought out. I certainly wouldn't argue for a badly thought out proposal. But, in practical terms, I don't see that choice. It's been eight years, at least, since I've seen evidence of carefully thought out legislation. I'd rather save the money then have an education/energy research stimulus package that was passed in a month. There is very little chance at getting a decent return on such a bill...it would just be more waste. One last comment, the primary difference between now and '03 is the housing market. I would think that addressing the structural problems there would be the first order of business if you are looking at solving the problems associated with this particular downturn. A Resolution Trust Corp Part 2 would seem to be more in line with that kind of thinking. My support for energy research and education spending is as a very long-term type of solution. It wont matter much if it gets passed this year or next. Slacker