OVERCOMING ECONOMIC DOLDRUMS: Interesting temporary solutions, doesn't address root causes Scheme proposed by the authors here could provide a solution to excessive debt in the system if only it weren't for human nature. What hasn't been addressed in the article is the question: once we've bailed out the bad decisions made by EVERYONE it took to get us to this state, what happens next. Since we've now introduced moral hazard to consumers by bailing them out from their debt accumulation with little or no consequence. So, since they are humans and many humans are irresponsible, how long will it take them and the many others who comet realize they too will bewailed out if their bet goes bad to start making bad bets once again. Institutions and individuals must be held accountable for their bad decisions otherwise the system nevers purges itself of bad investments and judgements.
WHY WE DISTRUST ALL GOVERNMENT SPOKESPERSONS: Jay Carney provides the misinformation (lies),the press spreads it The media is meant to be the watchdog for all us poor slobs not on hand to ask the hard questions ourselves. Regrettably the media has become a handmaiden to power. Probably because they trust power to do the right thing (a big mistake) and because their access to stories, scoops and the like will be limited if they cross it with reporting and stories that do not advance its interests. That means we are on our own for assessing information spoon feuds by government officials. Caveat emptor.
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