World coordination too little, too late.

In an effort to stabilize a shattered economy, governments throughout the world joined forces today in a rare coordinated effort. The Federal Reserve reduced its key rate from 2.0 to 1.5%, The Bank of England and European Central Bank announced similar cuts, as did banks from Canada, Sweden, Switzerland, and China. The Bank of Japan even stepped up in saying they supported the move.

Now I don't know about you, but I'm happy to see that lending just got a little cheaper. This is something we need right now. Hopefully now normal people will have a little more money via credit that was previously almost frozen.

Now the flip side, this, along with the bailout bill of last week, is not enough. For all our sake I hope our government knows that. An interesting conversation that I had with a respected friend brought up a possible solution. CleanTech. This almost deserves its own post, and possibly it will in the near future, however the basis is that normally if you want to create more jobs you invest in infrastructure. CleanTech is much more than just an infrastructure, it is a path to the future. To be more specific it would be the government funding considerable growth and expansion in clean technologies and renewable energy. More jobs equals more money earned, more money earned equals more money spent, more money spent equals more business success. Now, where is the government going to get all this money needed to fund such a large project, a project not just the size of a few cities, but one that would really help end our dependence on foreign oil? This is where I'm expecting a few cries, but my idea would be to divert money being spent on the war to a massive grant to fund our future.

Now imagine if the countries of the world started funding renewable energy on a large infrastructure scale. That might do a little more than a temporary band-aid to cover a gaping wound they're calling the latest cut in rates.

...and that has been Established.