In the video right after the break, Mr. H. “Woody” Brock speaks a lot about how United States can get back on track to a more productive future. I think he makes a lot of sense in the video. In the video he argues that nowadays United States cannot upset the bond market, because United States relies on the bond market to generate money. With a benign bond market, the cost of borrowing money will not be high (low interest rate) and the borrowing won’t be hard to do so. Nonetheless, when the bond market begins to doubt that the United States can ever pay back the debts, that is when the cost of borrowing money will be really high and devastated to the future of the country. Mr. H. “Woody” Brock argues that since the United States has to borrow more money to keep things in order, she has no choice but to be smarter about how she would go about and use the borrowed money. If using the borrowed money unproductively, the economy will continue to get worse and the borrow cost will go higher until everything gets unsustainable. He argues that if the country uses the money that she borrows from the foreign entities or entities within wisely, one example would be spending on fixing and building infrastructures that the country needs most, job creation might not be such a tough challenge. When jobs get created, he infers that there might be hope for the country in dealing with her massive deficits.
Afterthought: The things that Mr. H. “Woody” Brock suggest in the video might not be the things that definitely get United States out of the world of hurt, but the things he talks of are of common sense. I think Mr. H. “Woody” Brock might be right about what United States needs to do to reverse some of her economic bad lucks. Then again, what do I know?
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