High finance, low expectations

Re “Stimulus dusts off an old theory,” Jan. 11

The constant bombardment of negative reporting concerning our current economic condition is fanning the flames of this economic meltdown. I agree that the facts and figures are not good, and they require responsible reporting, but to beat this horse is wrong and irresponsible. It’s part of the problem.

Bob Dreebin

Glendale, Ariz.

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When Keynes was asked whether there had ever been anything like the Depression before, his answer was: “Yes. It was called the Dark Ages, and it lasted 400 years.”

If folks with relatively secure jobs and money continue not to spend, we’re likely to see our own recession prolonged and deepened.

As sales decline, so will jobs. The unemployed can’t afford to spend, so sales will drop off further, leading to more layoffs.

Michael Perrault

Yucca Valley

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The Times describes how the Obama administration is embracing Keynesian economics.

They must have forgotten the 1970s. It brought us years of stagflation -- high inflation, high unemployment and stagnant business activity. Barack Obama’s proposed spending is nothing short of an economic disaster that will turn this deep recession into a long depression.

As bad as our decline in consumer spending has become, the most pressing problem is the credit crunch. A modern economy runs on credit. Without it, business grinds to a halt.

Michael O’Guin

Rancho Santa Margarita