M-P

Markets Plunge Following Geithner's Plan - And That's Not a Bad Thing

We all know the government can't really control the economy. We want to believe they can, but it's a complicated mix of factors. There are no silver bullets here. It is well-known, however, that specificity manages expectations and can inspire confidence. Platitudes and bromides only win the buzzword bingo game. I like the stress-test idea - we should do that with goverment as well, including zero-based budgeting. We can't go back to the same old consumerism, negative savings rate, and reckless risk management.