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Letters: The economy now, and what we should do

Marketplace Staff Aug 24, 2011
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Letters: The economy now, and what we should do

Marketplace Staff Aug 24, 2011
HTML EMBED:
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Bob Moon: It’s that time of the week again — letters.

Last week, we launched our special coverage The Breakdown with this question: What would you call our current economic condition? How, if you could, would you brand it?

Michael Williams, from San Antonio, Texas, has come up with this acronym.

Michael Williams: The word is SOUR. The meaning is Smorgasbord of Uncertain Recovery, because it’s going to take a variety of actions to fix it.

As opposed to the acronym Wall Street is clinging to, I guess: S.O.S. What were you thinking? I meant Save Our Stocks, of course.

One focus of our Breakdown coverage is what all of us can do to get the economy moving again, which obviously means getting Americans back to work. But Jessica Roach from Mount Rainier, Md., says let’s not forget another big factor.

Jessica Roach: The economy will not recover until we deal with the one-quarter of homeowners who are severely underwater. My husband and I bought a modest two-bedroom home three years ago, and we watched the value of our home tanked by 60 percent. We weren’t reckless borrowers and we’re not alone.

From a business point of view, one solution is to get all the hoarded cash flowing again, so says Howard Jacobson, from Raleigh, N.C.

Howard Jacobson: The credit is the big problem, we read and hear about how much cash is in the Fortune 500 companies. And yet, I have never in my 25 years of business life, seen such an illiquid credit market.

Finally, the 24/7 downbeat drumbeat that is the economy is getting some of you a bit down. Witness Audrey Flojo of Kintnersville, Penn.

Audrey Flojo: Enough already — we know it’s bad. More positive reporting please!

Let tell us what we might do to make you happier, or not.

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