The only way to create self-sustaining jobs is to create a product that people will buy, that takes many people to make and lasts long enough to get past the loan terms it takes to buy the product in the first place but then becomes obsolete due to new technology or other advancements so people will want or need to buy another one. Wow - that means we should use the bailout money to support auto manufacturers by forcing them to immediately bring back a bunch of outsourced jobs and immediately start building more fuel efficient models that everyone will want to buy because they will be 100% USA made. Then the economy will rally and the problems will be over because people that have jobs will make payments on loans and mortgages plus actually pay taxes so we can have good roads and bridges too.
What a nice dream.
Ted Ryfiak
of MI
@
Dec 18, 2008 13:37:40 PM
The No Stimulus Stimulus!!!
Perhaps folks are finally realizing that borrowing more money simply to give away isn't a stimulus only increasing our debts ergo digging our hole a little deeper. Since we cannot control where the money will be used it is a wasted effort. True, the influx of cash does have a feel good effect on the numbers for a short time but like a painreliever if not readministered regularly does nothing to address the situation. For this reason any "stimulus" should be tangible as in jobs. By creating employment it benefits more people and longer lasting. Better yet, how about a new concept of employment loans where jobs are created by the government but job takers must repay the loan which created the job over time. This was the thought behind endenturement to provide the down trodden with opportunity in exchange for their services over time. May seem archaic yet desparate times call for desparate measures!!!
Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.
Ted Ryfiak of MI @ Dec 18, 2008 13:37:40 PM
Ray Fisher of NM @ Dec 18, 2008 12:00:04 PM
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