convince Americans that spending 700 billion dollars to buy delinquent
mortgages is a good idea.
It isn't. Unlike in Canada, there are thousands of banks in the USA.
Even if thousands fail, there still will be thousands left.
Obviously, the risk is a recession. A recession is caused by rich
people sitting on their money. They refuse to lend or invest it, and
the economy suffers.
However, you could certainly argue that if the government spent 700
billion dollars in other ways, there would be no recession.
Top ten ways to spend 700 billion dollars ($2000 per American).
1. Buy everybody an iPhone and $1000 to spend on iTunes and the app
2. Buy everybody an X-Box and 3 years of online gaming.
3. Extend the New York City subway to Washington DC.
4. Buy everybody an HD TV and a year of free cable/satellite TV.
5. Buy everybody $2000 worth of Amtrack tickets.
6. Invade Saudi Arabia.
7. Extend the Washington DC subway to New York City.
8. Buy Alberta.
9. Build a mega aiport outside Boston and force all European traffic
to transit there.
10. Everybody is going to Dysney World
Envoyé depuis mon iPhone / Sent from my iPhone.