We don’t need more stimulus. Or whatever you’re going to call it. There is enough money and credit out there. People like me who have money are convinced that things are going to get worse before they get better. So we’re sitting on the cash we have rather than spending it or investing it. Convince us that you aren’t going to make things worse, and we’ll heal the economy without you having to borrow, tax or spend.
There is about $1000 in hobby stuff I’d like to buy. However, I’m sitting on that money, because I think having cash sitting in the bank will be a lot more useful if the economy gets worse. Likewise, I keep getting offers for credit cards with no interest for the first year. I’m turning down the chance to borrow money for free. All because I’m worried I won’t be able to pay it back.
My retirement account is sitting largely in cash, because again I don’t know what’s going to happen. My retirement account is about half of what it should be to fund my retirement. Give me the confidence that you’re not going to break the economy, and I’ll invest this money.
Fix the economy by doing nothing. This will make taxable income go up which will make tax revenues go up. Fixing the economy will at least slow down the slide in housing prices.
Fix the economy by doing nothing. You’ll create jobs, stimulate the housing market and help lucky people like me help the unlucky ones.