You just gotta love the New York Times! Just when you think things can't get any stupider, when no one will have the guts to just publish something so stupid as to make you outwardly laugh, there is the NYT to rescue your day.
In the midst of the worst economic and political crisis of the last 100 years, what does the New York Times publish for us to contemplate?
More government of course! For example, it could create a program to restructure consumer debt. Although rates on 10-year Treasury bonds are only about 3 percent, many consumers still carry tens of thousands of dollars of credit card debt at 20 percent or more. This burden has been a continuing drag on spending. The federal government could reduce it by borrowing at 3 percent and lending to consumers at 8 percent under a one-time debt-restructuring plan. Get that, "a one time plan",,,,,yeah, right!
Hold on to your lunch, this one is the best: Another useful measure would be a carbon tax — or its approximate equivalent, a cap-and-trade system — scheduled for a gradual phase-in after the economy has again reached full employment. This would stimulate an immediate, huge jump in private investment without the government having to spend a penny.
Still scratching your head on that one? The Cap & Tax would make every car, machine, and appliance obsolete; thus all the research needed to design and build new ones would [magically] so stimulate the economy that gold would run in the streets.
I am sure glad they were kidding when they published this!
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