Comment Re:Oh, just great (Score 1) 841
Herbert Hoover is largely considered an embarrassment these days, because his response to a depression was to try to reduce spending. These days, economists (you know, the people who study economic functioning in order to try and learn) -- economists understand that when some whack-ass Republican president crashes your economy, you've got to spend money to get yourself out of it.
In a way, though, such a crisis and the deficit-spending that it demands provides an opportunity, because as long as there's still a drop of money to be squeezed out of failing or counter-productive technologies, Corporations and their Republican Toadies will not want to rock the boat. But once the boat is already rocked, there's more willingness to invest in industries that have a chance of producing things of value in the deeper biological sense (which I would argue underlies any economy), strengthening the economy in the longer-term. We're talking new technologies like solar power, smart grids, etc, as well as basic R&D, not to mention developing a functional health care system, and getting a muzzle onto rabid investment houses and insurance companies. Luckily for the CaRTs, sucking money out of the economy can protect you from renovators.
In a way, though, such a crisis and the deficit-spending that it demands provides an opportunity, because as long as there's still a drop of money to be squeezed out of failing or counter-productive technologies, Corporations and their Republican Toadies will not want to rock the boat. But once the boat is already rocked, there's more willingness to invest in industries that have a chance of producing things of value in the deeper biological sense (which I would argue underlies any economy), strengthening the economy in the longer-term. We're talking new technologies like solar power, smart grids, etc, as well as basic R&D, not to mention developing a functional health care system, and getting a muzzle onto rabid investment houses and insurance companies. Luckily for the CaRTs, sucking money out of the economy can protect you from renovators.