" How did so much of our economy become defined by the process of turning money into more money, with no new product, service, or innovation in between?
And merely openning up the flow of credit is not going to create jobs -- already, there are many who would qualify for loans, especially at these low rates, but don't borrow, because there is no demand for whatever enterprize they are investing in.
The economy is a living system -- and just as multi-organ failure creates vicious cycles that make survival nearly impossible, it feels as though there are too many things that have gone wrong, too badly, to expect a single solution to work.
It is like trying to feed a banana to someone in cardiac arrest because they have low potassium.
What they really need is potassium IV, oxygen, a defibrillator, intubation, a ventilator, and dialysis -- with a lot of close monitoring to be sure the patient isn't brain dead. And if there is active bleeding, that needs to be stopped too, and the blood replaced.
I know "the problem was building up over a long time, and won't be solved overnight" -- but this doesn't address the fact that our living economy is at risk of becoming brain dead as we speak -- the life support of bailouts will create the illusion of survival for a while, but the patient may never wake up.
We really only have about four minutes to get this initial resuscitation right. "
— Randall, Minnesota
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