The Media Wants Simple Solutions To Complex Economic Problems

[Yavin4]

This economy is experiencing its worst performance since the Great Depression, and there are no quick fixes or easy solutions. What is even worse is the parade of Republicans on cable news shows pandering to the American people with empty-headed tax proposals which won't do a damn thing for the economy.

Here's a list of some the major challenges we are facing:

1. The greatest decline ever in housing prices, something that was unheard of by financial experts. For generations, housing always appreciated.

2. The biggest bank failures in history.

3. A massive credit crunch which is destroying the world's economy

4. 16 months, and counting, of job losses

Tax cuts won't do a damn thing to turn around anything on that list. Not a damn thing. Why? Because no one is even paying taxes! Cutting the capital gains tax is meaningless when there are no capital gains! In fact, cutting capital gains may make things even worse because it would incentivize selling the few appreciating assets in order to take advantage of the tax break.

Yet still, there is cable news trotting out these folks and giving people the false impression that there is a quick fix or a simple solution.

[depakid]

1. Housing declines certainly aren't unheard of

That was part and parcel to the S&L crisis that Republicans and DLC Democrats failed to learn from.

[Jackpine Radical]

2. If Mencken were alive, he'd be callling them the Boobtoobocracy,

and reminding us once again that for every complex problem there is a simple answer--and it is wrong.