Chillin' out till it needs to be funded
1. Ignore instant economists who tout the new world order. From the Tulip Bulb Bubble forward, there is a fairly constant ratio of greed, innovation, herd instinct and financial panic. Every time we hear we have found a “New Paradigm” let us remember that the man uttering those words will shortly not have a Pair of Dimes to rub together. Expansion and contraction are certainly constants of the modern industrial age, and we should focus on getting the fundamentals right for the medium- and near-term.
2. Reward product leadership, innovation and correct growth. The bailout of Detroit should contain strong sanctions for those who brought their companies to ruin. No one either told GM leadership to keep producing SUVs nor the American consumer to buy them, but since GM wants my tax dollars to keep their factories running, I have no problem going after them to pay back bonuses, cancel stock options and give them a very short runway to get new products to market. Washington needs to show genuine leadership here as the price of assisting jobs preservation and labor leadership needs to sing a new song as well.