On Wed, 4 Jun 2003, Doug Henwood wrote:
> Miles Jackson wrote:
>
> >Color me pessimistic, but it looks to me like we're rolling into
> >an extended Japanese-style economic stagnation. How much more
> >home equity can people float to keep the economy kicking?
>
> There are stimulative forces afoot. "Childful" families will soon get
> checks in the mail - $400 per kid. Some $150 billion in stimulus will
> hit the U.S. economy in the coming months. That will be countered to
> some degree by budget cuts at the state and local levels, but it's
> still a pretty big number.
Okay, so I'm gloomy. However, I'm getting $800 for my wanton breeding habits, and I'm going to make a healthy payment on my bloated line of credit at my credit union. How many other people are going to do that, and does personal debt reduction have any stimulative economic effect?
Miles