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Coca-Cola said: I think some things need to be done (that will never be done); raise interest rates now; tariffs on foreign goods ( we need to produce); drill for oil but need alternative source; do whatever to lower the dollar (for export); Get rid of the minimum wage (let the markets decide); govt to stop bailing out banks. |
I agree eliminating the minimum wage would be beneficial. That, however, is the only thing I agree with you on. Raising tariffs would probably be one of the worst things for this economy. If you truly believe we are heading for a depression, then we should look at the previous depression and avoid the mistakes that were made then. One of the more damaging mistakes was the Smoot-Hawley Tariff. This was the catalyst for a collapse in international trade. We cannot enact a tariff and expect others not to retaliate; enacting tariffs would be economic suicide. What would be beneficial to the economy, would be the elimination of the permanent tariff system. We are hurting our poorest consumers and the poorest nations by continuing these disastrous tariffs. Also, on the issue of production…how much do you want us to produce? We are the world’s leading manufacturer and our output levels in 2007 set an all-time record. If we need to increase production, what are we going to produce and for whom? It is true that we have lost some manufacturing jobs, but our productivity has increased exponentially. That is to blame for the loss in manufacturing jobs and not outsourcing or foreign trade. You want to depreciate the dollar’s value, but you also want to raise interest rates? Raising interest rates would increase the dollar’s value. If you want the value of the dollar to depreciate, you would lower interest rates.
