Dr. Roubini is expecting the Fed to cut rates the next meeting, or the following one. Because the signs of recession will be so strong.
The only hope for our economy is:
1. Change from consumption to research and development, creating, producing ideas and innovations and products
2. Cut back on government spending, eliminate the Medicare bill that was just enacted, reduce social security promises and tell Americans they all have to work part-time in old age to pay for the excesses that they created. Else: the next generation which did not create this mess has to pay. Which is more fair?
3. Encourage saving over spending, by not taxing interest earned
4. Overhaul the tax code
5. Elect politicians with the will and ability to enact life-saving policies, and unite Americans in a common cause to improve our country
#3 and #4 are optional I think, but the others are a necessity. Without it, we are going the way of the Romans; in textbooks they will write about how America was once the super power.
