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Bilifuduo (97.10)

The Peter Pan Economic Plan



October 11, 2008 – Comments (1)

No, the title was not a typo. No, this has nothing to do with fairies, one-handed pirates, or a never-aging child. And yes, this will probably be the weirdest thing you have ever read, so prepare yourself.

There has been a lot of controversy surrounding the $700B economic bailout plan. 55% of Americans are against it, and Carl Icahn has once said it was "crazy and inflationary hell." On the other hand, 45% of Americans are for it, as well as Warren Buffett and Alan Greenspan. It was recently just passed, and now a 700 billion dollar lump is sitting in the Treasury's lap gathering dust so far. So, why not give a portion of that to kids?

There already was an economic stimulus package bundled up by the Bush administration, which the administration hoped would be used to spend money and help revive the economy. However, a majority of the money was directed at adults, who saved it and used it to pay off loans and mortgages and so on. To put it simply, chances are they didn't spend it on a shopping binge at Macy's. However, if we give the money to the kids, chances are they would go on a shopping binge. Seriously, how many kids do you know that are in debt or have a house or own a car or even save? Not many, I'm sure. Once they go on a shopping binge, every kind of store would start getting more and more money, which builds up consumer confidence, resulting in better earnings reports, which results in increasing stock prices, which can help restore investor confidence. Then, when the teens realize how much cheaper the things were, then, for example, a year ago, they would start snatching up the bargains. This could result in more and more fashions, which could then lead to more and more kids buying stuff so they could become "cool." Parents would be happy because they wouldn't have to spend so much money on stuff and business owners, from fast food restaurants to department stores and gas companies to video game corporations, would also be happy because more and more people are buying their stuff.

By now you are probably thinking if I'm mad or drunk (I'm wondering that myself after I read my article). Also, there are some flaws in this plan, as it does not directly affect any banking institutions, and we will still be in the subprime mortgage melee. However, seeing that panic, fear, and huge amounts of coffee and fainting have affected every sector of business, I think that kids could really help boost the economy. As for the banks, there is always the option of another government bailout.

1 Comments – Post Your Own

#1) On October 11, 2008 at 9:23 PM, dwot (29.67) wrote:

Actually, I think you you've hit the problem dead on...

I am not sure about the whole bailout thing, but younger people still have not accummulated wealth and the legislated transfer payments from youth to age is an enormous problem that will be drag on the economy.

We have the richest aging population in history, yet they insist on burdening youth further with their entitement issues.  And today's youth will truly grow to have the largest population of destitute seniors who will actually need support because of the theft of opportunity and burden enormous transfer payments.

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