Watching the mainstream media cover the "stimulus plan" you'd think they were handing out news of free candy to children-- no intelligent analysis, just stenographic reporting of poll results. The economic plight of America is not just another item of news, like the latest drunken driving celebrity. It will produce at least as massive an imprint upon America as 9/11, and could be bigger than the depression of 1929.
But it's news that takes more than a 15 second sound-byte to discuss. That means the content managers at the corpstream, lamestream mainstream media don't want to touch it, beyond peremptory glances. That is just not acceptable. They should be doing what they did with Iraq war one and two-- literally branding the economic disaster with graphics, sound tracks and musical themes. Sure, this is crass, but it is the way they address major, significant news that will be covered for a long time, in depth.
We need to see media people-- real journalists-- if they have any left-- "ebmedded" at the front lines of the economic disaster zone. Anderson Cooper waded into New Orleans and the same approach and investment needs to be applied to this economic disaster.
Nancy Pelosi's and George Bush's and Ben Bernanke's quick fixes are horrific failures before they are implemented. Taking such simple approaches will only make the problems worse, since it is likely that when they are implemented, they will be "The Treatment" and further intervention options will not be seriously explored. That is a huge mistake.
America was brought into a war based on bad information and analyis, biased assessment and oversimplification. This national neurological disorder seems to now be influencing our leaders approach to our economic crisis. We need leaders who understand and can work with nuance. It takes courage to insist one nuance when faced by media who want simple, simple simple. If America does not survive this series of national neurological meltdowns, and the odds are not great, the mainstream media will, when historical analysis is finally done, carry a large share of the blame, as well as a populace who let the media and their leaders get away with such immense failure to responsibly report and lead.
Bottom line-- there are no simple solutions for our problems. Attempting simple solutions will delay serious interventions that have a chance at succeeding.
Tax breaks might help, but they must be far more specific and targetted at helping both consumers and businesses. For example, give tax breaks to lenders who provide consumers with affordable mortgages. And insure the mortgages. Yes, this will cost more per borrower than the $800 average tax break being discussed. But not every person will get a break with this, only ones who refinance-- perhaps saving a home that would otherwise go on the market at a drastically reduced price. And it will also go to people seeking to buy their first home-- again, helping to stop or reverse the fall of housing prices. H
How about tax breaks for home improvements that hire skilled workers? That will help keep those electricians, plumbers, carpenters, etc. off the unemployment rolls.
We need to be smarter and not give money to people to pay off bills or buy imported junk from China. A flat tax rebate give-away is a VERY bad idea.
See Bill Burkett's article for more on this. The Sham of the Bush-Pelosi Tax Rebate Economic Stimulus-- that could cost a Trillion Dollars
1 | 2
