02-06-2009, 12:06 PM
Return to economic power = rebuilding our manufacturing infrastructure and returning to a viable savings rate. The savings is starting to return, which is good.
The answer is not the current political trend: making even more loose credit available to people, so that they will spend it on consumer goods. "Oh we need the banks to start lending again!" Banks and their loose lending is what got us into this mess in the first place.
Throughout history: Production based Economy > Service based Economy.
I was watching CNN this morning I think and they had the mayor of Lansing on the phone who was very outspoken, and while he kept rambling I did like his points. The best was in response to the question "Since we are a service economy now, shouldnt we be focusing more on that instead of manufacturing" and he replied "Service economy? What are we all gonna do, make hamburgers for each other?"
The answer is not the current political trend: making even more loose credit available to people, so that they will spend it on consumer goods. "Oh we need the banks to start lending again!" Banks and their loose lending is what got us into this mess in the first place.
Throughout history: Production based Economy > Service based Economy.
I was watching CNN this morning I think and they had the mayor of Lansing on the phone who was very outspoken, and while he kept rambling I did like his points. The best was in response to the question "Since we are a service economy now, shouldnt we be focusing more on that instead of manufacturing" and he replied "Service economy? What are we all gonna do, make hamburgers for each other?"