Here is a plan, by Mohamed el Erian which is a road map toward progress and hopefully economic prosperity. It is one plan, we need more options and then some good debate to choose the best. Arguing back and forward will not get us to the next point in the progressive development and jobs in this competitive and fast-moving world.
” An alternative is to change the national economic narrative and, thus, the political dynamics and dialogue. After all, ongoing global economic realignments require a reassessment of the big picture. Rather than endlessly argue on individual measures, let us instead take it from the very top. And do so in five steps:
First, start with a specific destination for the economy defined by transparent metrics for growth, jobs, inflation, financial soundness and, importantly, the key social indicators. I suspect that most can agree on a formulation that is both desirable and feasible.
Second, translate these objectives into clear priorities for lifting the major structural impediments to our economy. Again, I suspect that there would be broad-based accord on key sectors where simultaneous and coordinated actions are needed. (My list would include housing, the labor market, banks, infrastructure and public finances, as well as immediate steps to unleash productive energies.)
Third, put in place a mechanism and quantifiable variables for high frequency assessment of both the implementation of structural reforms and overall progress towards the overall objectives.
Fourth, get the executive and legislative branches to commit to this trio (medium-term objectives, major areas of structural reforms and process for mid-course corrections). In doing so, America would secure the political air cover that is so critical to the successful implementation of measures over a number of years.
Finally, get the technocrats to work out the details and present them as a package for political review and approval. Their focus would be on both immediate measures and those to be implemented over a number of years.
I suspect that this reformulated approach would offer greater prospects for economic improvement.” ( Huffington Post , Aug 16/11)
It’s no time for a summer long vacation and it’s certainly not good for anyone of us if decisions are delayed for a year or so for the next administration – who ever it may be, to resolve the stagnating economy and the joblessness. Confidence needs a boost, consumers need to be assured and productivity efficiency and inventiveness need to dramatically improve.
We know the problem. Let us determine the corrective actions needed and implement them ASAP !
What are your thoughts about the efforts expensed on the economic drive in North America ?
Leave a constructive comment below… Thank you in advance.
Twitter : EnvoyCapRealty
Envoy Capitol Realty Inc., brokerage Toronto / Canada
Buy,Sell,Lease,Consult,Develop,Manage,Syndicate — Investments
Yeretsianonrealestateinvesting's Blog 