I’m a big fan of the TV show Mad Men, which takes place in the midst of the Madison Avenue advertising agencies back in the ’60s and ’70s. Sure, I enjoy the drama and the “cool factor” of Don Draper and his cavalier ad team. But for me, the most fascinating part is all of the cultural [Read More…]
Consumers have built their lifestyles upon debt, as has the government, and the economy, which once was founded upon a production-based system, now relies more on consumption and credit than on making anything.
As a result, we have presidents issuing multi-billion dollar checks and telling us to go buy plasma televisions with them, and even under a democratically-controlled Congress and White House, we end up with a stimulus package, more than forty percent of which is made up of tax cuts.
We talk systemic change and infrastructure, but short-term solutions and personal comfort and security ultimately dominate public policy.
So what now? [Read more…]