How to Rebuild the Economy

Phaedrus wrote: Today I saw Bush on TV talking about the bailout of the Big 3. He said ‘I’ve Abandoned Free Market Principles To Save The Free Market System’. Hmmm...that sounds a bit like trying to put out a house fire with a can of kerosene.

Actually he is trying to fight fire with fire. His problem is that if he does get new money to do all the national restructuring he wants to do, it will not be nearly enough. Anybody initiating a new business enterprize knows that starting off under-capitalized is a sure-fire recipe for failure.

It is a pity he never got a big enough mandate to do exactly what needs to be done. As his economic advisor it would tell him to declare an all out war on national poverty. Begin by ordering the Fed to print zillions of new dollars, This would effectively devalue all existing dollars and temporaily neutralize the national debt. I would instruct our creditors to have faith in the American worker and hold onto their devalued dollars. Large Corporations and private firms would be put on war-time production footing and instructed to pour all their resources into a complete make-over of the national infrastructure.

Brand new energy grid designed for renewables;
Brand new ergonomic vertical cities built outside flood-planes and hurricane alleys.
Brand new transportation system.
High-rise indoor farming.
Free health care and free education for every citizen.
Encourage a global stewardship corps of young graduates to travel abroad and help undeveloped nations get up to speed.
Ensure full national employment for a thirty year war.

At the end of that time, the new American dollar would regain world dominance. Debts would be squared with interest.