Since long ago I was planning to write a separate article on the benefits of the recession. But today I came across the Marketwatch article covering the topic pretty well. In short, the recession is a necessary part of the economic cycle, the way the economy is fixing itself.
Am I suggesting that I don’t care that people feel the pain during the recession? No, I care, but I think that they have to feel the pain, like any medicine is painful.
If the problem is that we off-shored our production away to China and became a nation of real-estate brokers that just borrow the money from China and sell homes and mortgages to each other then I think the fix of the problem will be that all those fat-assed people seating behind glass doors in various agencies lose their jobs, foreclose their homes and go to factories and start assembling a new generation of fuel-efficient cars and windmill electricity generators.
And the new generation will know that if you want to live well you need to work with your hands or your head and not flipping real estate