Pethokoukis

How to fix the world — or at least the U.S. and global economies — in just 70 words

Edward Yardeni is known as one of the smartest, most forward-thinking economic analysts around. Although he now runs his own firm, he was on Wall Street for a quarter century as the chief economist of EF Hutton, Prudential Securities, and CJ Lawrence. He was also the chief investment strategist of Deutsche Bank Securities.

And in an investment note today, Dr. Ed says this is how he would fix things if he were “King of the World for a week”:

Simple really. In the US, I would implement Simpson-Bowles in full. I would mandate that public employees can collect their benefits only when they turn 67, not when they retire. In Europe, I would take Germany out of the euro zone, and let the euro plunge. I would lower tax rates in Europe and enforce strict tax collection. In China, I would privatize state-owned companies. I would outlaw the Communist Party.

4 thoughts on “How to fix the world — or at least the U.S. and global economies — in just 70 words

  1. He is obviously not a government employee to come up with those ideas. The public employees who “retire” after twenty years of service, who somehow then get paid for twenty years of sick time they never use (what clown agreed to this), begin collecting their pension and THEN take another public sector job, those are the ones killing the budgets.

    Kev

  2. Short term, might work, long term, you haven’t really changed anything because you have left all the power in the same place.

    My answer is much more simple, is actually possible and would last much longer.

    Repeal the 16th Amendment (Income Tax). The majority of the power the federal government has taken from the States and the people if via tax law (see recent supreme court decision). Return to apportionment, let the States act as a Balance against an out of control Federal Government.

    Repeal the 17th Amendment (direct election of Senators). The Senate is suppose to represent and protect the interest of their States, not the people directly, that is what the house is for. We need Senators fighting to keep the Federal Government small, but because they are now directly elected, their motivation is to bring the money to Washington so they can use it to buy votes from the people.

    Do those 2 things and you would see the American Economy boom and the Global economy will follow.

  3. Simpson Bowles, like the Ryan Budget is half measures. My plan is to shut down at least three Federal Departments: Education, Health and Human Services, and Housing and Urban Development. Cut the rest of them back dramatically. Cut all Federal worker salaries, including Congress and the President, but not soldiers in harms way, by 20%. Institute a $1 on $5 VAT. Eliminate income taxes on foreign earnings, capital gains, and dividends, and lower the top rate to 20%.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>