Posts
2/11/2009 11:39:00 AM
I read this morning that Caterpillar Corp. agreed to rescind some of the 22k layoffs they recently announced if the stimulus bill passes. This is bad.
Our economy needs a recalibration. Businesses that grew too quickly need to slow down; banks that lent money to the wrong people need to be more conservative; home buyers need to buy houses they can afford, US automakers need to learn how to innovate, etc.
What we don't need is to give these large, multinational, multibillion dollar organizations a reason to continue the status quo. If that's all the stimulus bill does, we'll be right back where we started whenever the money runs out. And next time, it'll be more expensive than it is today.
Our economy needs a recalibration. Businesses that grew too quickly need to slow down; banks that lent money to the wrong people need to be more conservative; home buyers need to buy houses they can afford, US automakers need to learn how to innovate, etc.
What we don't need is to give these large, multinational, multibillion dollar organizations a reason to continue the status quo. If that's all the stimulus bill does, we'll be right back where we started whenever the money runs out. And next time, it'll be more expensive than it is today.
