Kveðjur frá hagfræðingum

Auðvitað er skynsamlegast að hjálpa fókinu í landinu og atvinnulífinu. Hvaða spekingar fengu þá firru í höfuðið að bankar gætu lifað án fólksins og atvinnulífsins?

Þessi skilaboð Michaels Hudson birtust hjá Agli fyrir skömmu:

“When it comes to cleaning up the Greenspan Bubble legacy by writing down homeowner mortgage debt, the Treasury proposal offers homeowners $50 billion – just [half of one percent] of the $10 trillion Wall Street bailout to date, and less than half the amount given to AIG to pay its hedge fund speculators on their derivative gambles.

The Treasury has handed out $25 billion to each and every big bank, so just two of these banks alone got as much as the reported one-quarter of all homeowners in America suffering from Negative Equity on their homes and in need of mortgage renegotiation. Yet today’s economic shrinkage cannot be reversed without a recovery in consumer demand.

The economy has lost the “virtual wealth” in higher-priced homes and the stock market, and must rely on after-tax earnings. But I see little concern for wage earners in the Treasury plan. Without debt relief, consumer spending and business investment will not recover.“