This is a very good article. Bernanke has to show real leadership. Cutting the rate by 75 basis points will only increase debt, and reduce pain over the short term, but in the long term, it would be disastrous for th world economy. When Ron Paul wins the General Election, there will be short term pain for long term stability. He would wrest control back from some special interest groups, war profiteers and lobbyists. And help stabilize the world economy. I believe more Americans should read this article, to fully understand the implications of such wrong decisions on future generations.
The history of the current and upcoming economic situation is very important. Too often when a crisis happens, people demand immediate responses, and of course the powers that be have plans to offer, but they don't address the true fundamental problems leading up to the crisis. The more people aware of history, and thus a high capacity for understanding, the better we will be able to navigate tough times, and hopefully fix the system so that such a crisis never occurs again. We as a race (human) really would do well to learn from our mistakes, and identify root causes, instead of painful symptoms, if we want to treat a disease.
Ubuntu did very well, becoming one of the most popular linux distros in such a short span of time, maybe the founder of Ubuntu can be tapped for his skills in the government.
No rational person would deny that the productivity gains of the 80s and 90s were not real. Also nothing increases forever and productivity gains have slows so the growth your able to produce with low interest rates have come down. That’s what happens in an changing economy.
We've lost our productivity advantage because we no longer produce. Little that you post with regards to economics makes rational, historical or empirical sense. At one point, I keep hoping you will stop posting broad generalizations, from popularly held fallacies.
Obviously you haven't been to the Midwest because you would see we still manufacture goods in this country. About 14% of our GDP is tied to manufacturing. While only 3% of it is agriculture. I don't see you complaining that we don't grow enough corn in the United State. Also productivity isn't only associated with manufacturing, productivity gains can come in the service industry also.