I'm no economic expert, so I speak in terms of generalities. And I probably sound like a republican (which I'm not) but I just want to get this off my chest, coz my wife won't listen to me
and I have not heard this really being discussed by the pundits:
To me it's just so very wrongly odd to watch all this unfold: huge corporations looking for a handout from the government (so much for true capitalism where market parameters and forces should control their fate); to have the gov't set aside $700 billion to aid in economic recovery, and not a clue how to administer the allocation; the stock market gyrating out of control; total uncertainty in employment in virtually all sectors; etc.; etc
This certainly is a time of unprecedented economic calamity, but, one major factor is being overlooked : consumer spending is the keystone to this economy.
I think, rather than giving multi-billion dollar handouts and strain an already hugely deficit ridden government (aren't we in the red like $10 trillion ??), something we should strongly focus on is the creation of new jobs. New jobs from establishing new markets, new industries. Rather than the gov't funding existing failing businesses and the aholes who run them, why not provide seed money for existing and future companies that can help solve some major problems facing us today: alternative energy; green technology; health care systems; care for the aged; imbalance in trade (if we're not careful China is going to own our a##ses); etc - the main purpose being to put people back to work and put innovation, flexibility, and strength back into our economy! What's the old phrase- necessity is the mother of invention??
This certainly isn't a quick fix, but a step in the right direction IMO.
Just my two cents. Thanks for listening