4 1/2 % Solution

Well, we have thrown billions of dollars at our faltering economy and it hasn't shown any improvement that I can see. The stock market seems to be inching up a bit, though, but that is not a result of anything the current administration has done. Unlike the days of the Great Depression, a lot of investors who had pulled their money out are sitting on bunches of cash and are getting antsy about putting it back to work. There are quite a few devalued viable companies out there, and the investors are starting to dribble their money back in to snatch up the bargains. It is a wild thought, and I haven't done it (yet), but I thought about buying some General Motors stock at 61.5 cents a share. (Not too much, no more than I could afford to lose.) With the full faith and trust of th U.S. Government behind the company, the stock might get as high as $1.23 and I could double my money.
I'll have to think on that awhile. I just remembered , I just got $500 in the mail!!
I know it will never happen now, but the Republicans sponsored a bill that would set the interest rate at 4 1/2% for anyone that wanted to buy a new home or refinance an existing mortgage. The bill was instantly shot down by the majority party for whatever reason I will never know. But I was thinking, what would this do for me? My current morgage is 5.625 %, not too bad a rate, but if I was to refinance at 4 1/2%, I would have an extra $70 in my pocket, each and every month for the next 30 years. This isn't big money, but I don't have a large morgage. And you can bet that $70 would end up in the economy somewhere. But think of the big picture. This low interest rate would definitely be an incentive to stimulate the housing market, which would put a bunch of carpenters to work. When that happens, lumber manufacturers, truckers, cabinet makers, and a host of other enterprises would have something to do again. I believe I would include some language in the deal that would require the participants to be able to pay back the loan. And here is a novel thought; this would actually reward the people who have done things right. I'm afraid that I would just let the irresponsible people lose their homes. Deadbeats they are, and deadbeats they shall remain. So, how long would it take to feel the effects of this kind of stimulus? Immediately, maybe two months, tops.
Ah, this is too simple. No wonder it was shot down!
This afternoon I unearthed a notebook that I had forgotten about. Just after the stimulus bill was passed I wrote down what I thought about it. It was not written by the same mellow fellow that now sits at the keyboard. When I get to know you a little better, maybe I'll let you read it.