Food for thought before we load ourselves with another trillion dollars worth of debt.
As economics professor Steven Horwitz said, “The stimulus plans assume consumption is the source of growth. It is not. It is the consequence of said growth.”
Exactly - I kept waiting for him to say, "Look, this is step one, get the wheels turning again. The next step will be converting that momentum into positive production instead of consumption". The closest he came was saying that we can't continue consuming our way into greatness. No alternative was offered.
Exactly where does the US expect to be in terms of production in 10-15 years? What are our new great exports to justify our insane consumption rate?
Exactly - I kept waiting for him to say, "Look, this is step one, get the wheels turning again. The next step will be converting that momentum into positive production instead of consumption". The closest he came was saying that we can't continue consuming our way into greatness. No alternative was offered.
ReplyDeleteExactly where does the US expect to be in terms of production in 10-15 years? What are our new great exports to justify our insane consumption rate?