We screwed up. So, what should we have done?

[patientrenter]

Well, it looks like we baby boomers screwed up on the economy, big-time.

We’ve heard a lot about proximate causes for the mess, and who is to blame. Every day we hear ‘solutions’ for the future taken from the tired old political parties’ tired old talking points. I think those topics are well covered elsewhere.

Do any esteemed fellow Piggingtons have a home-spun vision, founded in solid economics, for what kind of society we coulda, shoulda, woulda, made, if we were more thoughful?

To get the ball rolling, I will put forward a theory that our current problems are due to a disconnect between:

(a) baby boomers’ expectations for a long and comfortable low-work high-golf retirement, after a lifetime of spending just a little less than their salaries and wages, and

(b) the need for other people to work hard over the next 10-40 years to satisfy the elderly boomers’ wants.

If this theory is correct, then we need to start thinking about new ideas such as how healthy aging boomers can provide basic care and other services for other boomers who are senile, incontinent, indigent, disabled…. Our problems with too much debt, and too high asset prices, is just one financial manifestation of the underlying disconnect above.

I’d love to hear the views of the bright minds here.

[kewp]

I posted this in another thread. Basically, just open up the borders. This would also help rescue the various entitlement programs (at least until the immigrants get old).

[quote]
Here’s an easy solution to put a bottom under US real estate in under a year.

Give an instant green card + work permit to any foreign citizen that purchases a property in the United States with a 20% down fixed mortgage from a domestic S&L. Mortgage insurance will be provided by the Fed.

Providing the resident alien maintains a positive legal and credit record, offer them full citizenship after four years.

We’ll simultaneously pull all the best human resources (and their associated assets) from the rest of the world and bail out the domestic housing and banking industry.

As a symbol of the program we could gild the Statue of Liberty with gold leaf. That would look rad.
[/quote]

[kewp]

I posted this in another thread. Basically, just open up the borders. This would also help rescue the various entitlement programs (at least until the immigrants get old).

[quote]
Here’s an easy solution to put a bottom under US real estate in under a year.

Give an instant green card + work permit to any foreign citizen that purchases a property in the United States with a 20% down fixed mortgage from a domestic S&L. Mortgage insurance will be provided by the Fed.

Providing the resident alien maintains a positive legal and credit record, offer them full citizenship after four years.

We’ll simultaneously pull all the best human resources (and their associated assets) from the rest of the world and bail out the domestic housing and banking industry.

As a symbol of the program we could gild the Statue of Liberty with gold leaf. That would look rad.
[/quote]

[kewp]

I posted this in another thread. Basically, just open up the borders. This would also help rescue the various entitlement programs (at least until the immigrants get old).

[quote]
Here’s an easy solution to put a bottom under US real estate in under a year.

Give an instant green card + work permit to any foreign citizen that purchases a property in the United States with a 20% down fixed mortgage from a domestic S&L. Mortgage insurance will be provided by the Fed.

Providing the resident alien maintains a positive legal and credit record, offer them full citizenship after four years.

We’ll simultaneously pull all the best human resources (and their associated assets) from the rest of the world and bail out the domestic housing and banking industry.

As a symbol of the program we could gild the Statue of Liberty with gold leaf. That would look rad.
[/quote]

[kewp]

I posted this in another thread. Basically, just open up the borders. This would also help rescue the various entitlement programs (at least until the immigrants get old).

[quote]
Here’s an easy solution to put a bottom under US real estate in under a year.

Give an instant green card + work permit to any foreign citizen that purchases a property in the United States with a 20% down fixed mortgage from a domestic S&L. Mortgage insurance will be provided by the Fed.

Providing the resident alien maintains a positive legal and credit record, offer them full citizenship after four years.

We’ll simultaneously pull all the best human resources (and their associated assets) from the rest of the world and bail out the domestic housing and banking industry.

As a symbol of the program we could gild the Statue of Liberty with gold leaf. That would look rad.
[/quote]

[kewp]

I posted this in another thread. Basically, just open up the borders. This would also help rescue the various entitlement programs (at least until the immigrants get old).

[quote]
Here’s an easy solution to put a bottom under US real estate in under a year.

Give an instant green card + work permit to any foreign citizen that purchases a property in the United States with a 20% down fixed mortgage from a domestic S&L. Mortgage insurance will be provided by the Fed.

Providing the resident alien maintains a positive legal and credit record, offer them full citizenship after four years.

We’ll simultaneously pull all the best human resources (and their associated assets) from the rest of the world and bail out the domestic housing and banking industry.

As a symbol of the program we could gild the Statue of Liberty with gold leaf. That would look rad.
[/quote]

[Coronita]

What’s this “we” stuff?

Not of of us are baby-boomers. Yes, “you” baby-boomers really f’d it up for the rest of us…

Just kidding.

[Coronita]

What’s this “we” stuff?

Not of of us are baby-boomers. Yes, “you” baby-boomers really f’d it up for the rest of us…

Just kidding.

[Coronita]

What’s this “we” stuff?

Not of of us are baby-boomers. Yes, “you” baby-boomers really f’d it up for the rest of us…

Just kidding.

[Coronita]

What’s this “we” stuff?

Not of of us are baby-boomers. Yes, “you” baby-boomers really f’d it up for the rest of us…

Just kidding.

[Coronita]

What’s this “we” stuff?

Not of of us are baby-boomers. Yes, “you” baby-boomers really f’d it up for the rest of us…

Just kidding.

[Carl Veritas]

The federal governments finances should be more like the individual counties and States. States must tax and borrow to pay for itself and there is a limit.

In contrast, budgets or bankruptcies are concepts foreign to federal decision makers.

If all federal entitlements have to be paid by collecting taxes and borrowing, they will be reformed, or scrapped.

For a more thorough discussion of an alternative go to the last chapter of this book Money, Bank Credit and Business Cycles.

http://mises.org/books/desoto.pdf

Welcome Mr Anderson.

[Carl Veritas]

The federal governments finances should be more like the individual counties and States. States must tax and borrow to pay for itself and there is a limit.

In contrast, budgets or bankruptcies are concepts foreign to federal decision makers.

If all federal entitlements have to be paid by collecting taxes and borrowing, they will be reformed, or scrapped.

For a more thorough discussion of an alternative go to the last chapter of this book Money, Bank Credit and Business Cycles.

http://mises.org/books/desoto.pdf

Welcome Mr Anderson.

[Carl Veritas]

The federal governments finances should be more like the individual counties and States. States must tax and borrow to pay for itself and there is a limit.

In contrast, budgets or bankruptcies are concepts foreign to federal decision makers.

If all federal entitlements have to be paid by collecting taxes and borrowing, they will be reformed, or scrapped.

For a more thorough discussion of an alternative go to the last chapter of this book Money, Bank Credit and Business Cycles.

http://mises.org/books/desoto.pdf

Welcome Mr Anderson.

[Carl Veritas]

The federal governments finances should be more like the individual counties and States. States must tax and borrow to pay for itself and there is a limit.

In contrast, budgets or bankruptcies are concepts foreign to federal decision makers.

If all federal entitlements have to be paid by collecting taxes and borrowing, they will be reformed, or scrapped.

For a more thorough discussion of an alternative go to the last chapter of this book Money, Bank Credit and Business Cycles.

http://mises.org/books/desoto.pdf

Welcome Mr Anderson.

[Author]

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