Jubilee Year

Obama Throws $75B at the Housing Crisis

The plan is good, well-thought out, and his presentation makes a strong social case for its necessity. The plan involves interest rate cuts, possible principal reductions, potential bonuses for repayment, and it doesn't require you to be behind on payments to qualify.

The main problem is that it is at least 6 months too late. The problem is probably too big at this point for his methods to actually stabilize prices.

U.S. Records Huge Trade Deficit

The trade imbalance is not a product of the free market, it is a product of foreign government policy, hoarding dollars to keep their currency low, to their own economic advantage. Why should we cooperate with their predatory policy? Decreasing US wages in the face of foreign attacks on our economy is hardly a legitimate public policy.

Thank you, Mr. Morici, for spelling out the negative consequences of the corrent global economic system, which are uniformly glossed over by the powers-that-be who are currently establishing trade policy.