Comments on: We can Avoid Another Great Depression – Time for a Rational Government Response

By: Arohan

Arohan — Sat, 21 Feb 2009 21:54:58 +0000

@Miranda, you are right in the sense that most of the demand that supported the economy in last few years was fluff. I think the consumers will figure out how to align their spending with their incomes as long as the government doesnot encourage people to spend and spend. @Surfer Jerry, I wholeheartedly support the idea of cutting taxes although I am pretty sure Miranda will probably disagree that tax cuts work. Your point about credit card interest rates is well taken. Mandating usury laws may be one idea but I think what we really need is to educate consumers on how to be responsible with their credit. Arohan’s last blog post..Time to invest in a manufacturing business

By: Surfer Jerry

Surfer Jerry — Fri, 13 Feb 2009 23:51:10 +0000

I agree the American consumer got carried away, but I think that the united states gov. needs to cut taxes both for individuals and businesses for 6 months to a year. Reform the credit card companies. There are laws in almost every state that limit the max amount that they can charge most of them are around 13% if I remember right, but these companies incorporate in states that don't have these laws. So when you agree to their terms you are agreeing to that states laws not your own. Common 28 to 33% interest is killing the average person even though it is their own fault. I could go on and on but won't. It was a great post and thanks for sharing it with me! Surfer Jerry’s last blog post..Bizarre Chewing Gum Sculptures

By: Miranda

Miranda — Fri, 13 Feb 2009 20:36:59 +0000

Unfortunately, we're at a horrible point where the economy is supported almost completely by consumers who are "carried away." Rational government action would include using this devastating experience as a lesson to not only help support good businesses while letting the bad fail, but also to shift our economy away from relying on unstable and unsustainable growth powered by debt-fueled consumer spending. Miranda’s last blog post..Forget Economic Stimulus: Get Your Own Financial House in Order