Sunday, November 13, 2011
Kick the Can
This is a really interesting article. I like how the author compares countries dealing with massive debt and them continually kicking a can down the road. It's like no one wants to deal with anything except the United States. People in the Eurozone are all passing the blame and not working together to solve problems. They can't agree on how to fix anything. As for China, according to this article, they are doomed to crash. They are inflating their numbers and patching things so they continue to grow instead of fixing them. It's just like if you continue to patch a boat eventually the patches will give and you will sink the boat. I do like how this article gives hope to the American people about how politicians are determined to fix things, yet they can't agree on anything. However, this does give people hope and more confidence about how good we have it compared to other countries.
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I liked how the article ended on that note. It seems like low consumer and business confidence in the economy and as well as the government are really stalling the increase in aggregate demand needed to push the recovery forward. As far as any fiscal reforms, those will not be happening until 2013, whether Republican or Democrat is elected. Even then, the polarization in Washington, I suspect will not subside. I think this will continue to keep consumer and business confidence low.
ReplyDeleteIts too bad that we will have to wait until after the upcoming election before any real reforms can be implemented. I agree that even after the election political tension will not subside. America in particular needs some event that will bring citizens together and force politicians to collaborate on policy reform.
ReplyDeleteI respectfully disagree with much of this analysis. I don't think the real question is who will stumble first (perhaps no one will); I think the real question is who will win the (mental and physical) marathon. I suspect that the gold medal goes to the smartest one with most perseverance, the bronze medal to the dumbest one with least perseverance.
ReplyDeleteI thought this article was interesting in the way that it compared the debt problems of Europe, China, and the Unites States. The article points to Europe as the first one that will face its debt crisis head on. This makes sense as the debt situation in Greece continues to look worse and worse. Ignoring it at this point would pretty much guarantee that Greece would default, causing many problems. The article also says that China and the US will both ultimately face their debts too, which I also agree with.
ReplyDelete"Kick the can" is an interesting phrase that I have repeatedly heard during this recession. I feel that everyone is certainly kicking the can down the road, especially when it comes to bail-outs. I mean, bail-outs are great and useful, but are they the best possible solution to our problems? I feel that they create more problems than they solve.
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