Phil Karpen makes some interesting points considering the stimulus package President Obama. Boiling down the argument, he's basically saying that this bailout will only postpone the inevitable. I think one of the key point is that Americans should stop buying what we can't afford. It seems like simple logic to live by; however, the concept must be more complicated, because most Americans don't realize the problem with our consumer-oriented society. Another thing he mentions is that it's those who've been smart with their finances who apparently have to pay to "bailout" those who were irresponsible. I'm not really seeing where this is "fair."
On the downside, Karpen could have mentioned an alternative solution to the economic crisis. Instead, he seemingly criticized without offering any way out. His argument, I think, is valid, but things aren't accomplished through only well-grounded criticize. We need a solution. A way to ease the effects of the crisis.
"When will we say 'enough' to the world's biggest ponzi scheme?"
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