Cesar Valencia

Defining a Depression

Read the Di Lorenzo article and it just seems like political posturing. The fact of the matter is that America's infrastructure is inadequate. We are not talking about making holes in the ground just to cover them up, we are talking about building the basis of America's future competitive edge. Price fixing is not the answer, so home prices should be allowed to fall. Banks should be allowed to fail, so should GM and other poorly managed businesses. Taxes should be lowered for the middle and lower classes. The whole "the rich create jobs" myth needs to be revalued. Good ideas create jobs. A strong consumer base creates jobs. The convenience store owner down the road is not going to move his convenience store to another country because he can get better tax treatment. What America needs to do is put money in the hands of the people that will actually buy goods and services that will lubricate the economy. Not to people that will buy a 100K + European car, a $1000000 + condo, and stash the rest in some sort of financial instrument that will do nothing for GDP.