This CNN Money poll shows that the average person is smarter than the experts at the Fed
What will it take to get global markets back on track?
A bigger, coordinated rate cut by central banks 4%
Regulatory changes 20%
Another stimulus package 7%
Time 68%
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{ 12 comments }
I’m not at all surprised!
The same truth was exposed regarding the $700BN bailout bill — 90% or more of the people who contacted congress were against it…
What are the chances the government sanctioned that poll in an attempt to actually find an answer. Maybe they’re finally out of bright ideas.
Unfortunately, I don’t think our government is out of “bright ideas”.
I’m impressed and surprised that CNN even used “Time” as one of the options for a response!
At this point, I’d support turning over all government decision-making to online polls.
The only problem I see is that when they say “Regulatory Change”, they probably want more government regulation, even though the government does a lousy job of regulating in the first place.
My OWN four-choice question about “what went wrong” goes:
(a) Bad regulations (need better).
(b) Good regulations, but not enough of them (need to go further).
(c) Good regulations and enough, but not enforced vigorously enough.
(d) Regulations ARE what went wrong – get rid of them.
Lew! Why doesn’t Mises Inst. run an online poll along the lines suggested by NJ Potts — and publicize the expected results! The average person is beginning to “get it” — nothing like a cold, wet dose of reality to teach people about economics!
But, add another choice,
(e) Get out of the way!
[to quote Ron Paul, Murray Rothbard and John Galt...]
I’ve been somewhat surprised by how “regular” people have thus far handled the crisis. Here in Finland the left is agitating as well as it can against the free market system. They are trying to get the standard “put Social Democrats back in power and everything will be ok” narrative going, but thus far nothing has stuck.
Though, to be honest, the idea that Finns would suddenly realize that the government isn’t the answer to everything is wildly optimistic.
Just like Mike D., I wouldn’t be so sure if this CNN online poll has any meaning. After all, some leftists support government’s intervention in the economy, but are against government’s intervention in the bedroom (Then again, they do support a form of social engineering, which does require governmental intervention) or some conservatives support government’s intervention in people’s private life but are against government’s intervention in the economy (Again, it is more or less nuanced when you consider issues in the economy).
In short, a regular person can hold two conflicting opinions (In fact, I suspect they do).
Option (f) Do nothing. Easy, doable, efficient. Success.
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