The 'first-time goldbuyer' tax credit
The Keynesian policy junkies are out in force, all strung out and exhausted from retching and withdrawal, but like an OxyContin psychotic storming drugstores desperately looking for his next fix, they have picked themselves up and taken to the airwaves and Internet in an attempt to foist their megalomaniacal schemes and demands on America's future.
You鈥檝e got Paul Krugman and being 鈥渞ight鈥� about the bubble and 鈥渞ight鈥� about stimulus and 鈥渞ight鈥� about the size of the stimulus and 鈥渞ight鈥� about GDP and 鈥渞ight鈥� about unemployment and 鈥渞ight鈥� about the second half slowdown and 鈥渞ight鈥� about needing another $800 billion stimulus program鈥� With a disturbing cultish zeal, Krugman will not cease his childlike diatribe until, in his mind, the whole of America relents and agrees that big government holds the solution for anything and everything.
Then there is Laura Tyson who, , the government鈥檚 response and the importance of additional aid to the states, ironically ends her bit of wisdom with a slap at the past suggesting that 鈥渋mprudent fiscal decisions before the recession鈥� were the real culprit of our long-run economic problems鈥� This coming from one of the main architects of the 90s-era quantum-leap to free, unfettered and immediate global trade liberalization that subsequently opened the floodgates to today鈥檚 off-shoring of manufacturing and professional services jobs.
Finally there is the that teems with creepy propagandist content like and the government sponsoring 鈥済roundbreaking scientific breakthroughs鈥� while simultaneously issuing a multitude of defenses of the Recovery Act against such treacherous and critical sources as the Associated Press鈥檚 鈥淔act Check鈥� and the USA Today money section.
Interestingly though, the policy junkies message, however shrill, appears now to be falling on deaf ears as an American populous suffering from a major case of stimulus fatigue and reeling from continued weak economic times loses confidence in hollow claims and clunker-chicanery.
What the government meddlers need now is a new and exciting stimulus policy not just the same old 鈥渟hovel ready鈥� scam or green energy flimflam.
To that end, I鈥檇 like to propose two new initiatives 鈥淭he First-Time Goldbuyer Tax Credit鈥� and a new government sponsored enterprise (GSE) 鈥淕oldie-Mick鈥�, programs that together would benefit innumerable numbers of disenfranchised Americas who have never had the opportunity to own an ounce of gold bullion.
While the gold bullion ownership rate has been increasing as of late, it鈥檚 still at historic lows and with steadily rising gold prices fewer and fewer Americans can afford to own gold bullion.
What the economy needs now is more gold ownership which would work to stabilize household balance sheets, provide a much needed benefit for gold brokers while also saving and/or creating thousands of new jobs in the mining sector.
The implementation of these two programs should be fairly obvious as they would simply take the shape of the government鈥檚 past housing related nonsense but in this case with a much more popular and exciting asset-class!
Housing is out 鈥� Gold is in!!
It鈥檚 time for big-government to step up to democratize and subsidize access to an important, yet under-appreciated piece of the American Dream.
Add/view comments on this post.
------------------------------
海角大神 has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.
