Economist Lays Out Her Plan to Fix Economy
I've Moved! The Boomer Chronicles has closed after 6 years, but you can keep up with me on my new blog at http://www.rheabecker.com
I had a fantastic opportunity this morning to hear a talk by Dr. Lisa Lynch, a labor economist and chair of the Federal Reserve Bank of Boston. Her message was nothing but doom and gloom, and I ate it up. She confirms everything I believe. Housing prices must come down to earth. We are in this for the long haul. She said the factors that drive foreclosures are these:
- Life events, specifically, a job loss, a divorce or a health issue
- Rising home prices
Her recommendations for correcting the massive problems in the U.S. economy are:
- Extend unemployment benefits
- The states will eventually need to be shored up with financial packages
- Job creation
Lynch, who is also dean of the Heller School for Social Policy and Management at Brandeis University, was speaking at a Leadership Breakfast for the Boston-based Career Collaborative, an organization that “works to end working-class poverty by helping adults get and succeed at life-changing jobs.”
October 23rd, 2009 at 4:03 pm
I think the #1 target to fix the economy is J O B S.
I don’t know how much longer this govt can keep dishing out benefits without revenue coming in. UI sounds nice and so does helping out the states but eventually the ink in the money printing press is going to run dry.
October 24th, 2009 at 12:48 pm
Job creation–rather than the government bailing out fat corporations who have mishandled finances, let the government both create and subsidize jobs. Bring back more manufacturing jobs to our shores and ask the big boys to put a certain percentage (10%?) of the goods of their shelves “made in the USA.”