George Soros on Bill Moyer's Journal (h/t GreenBiz), says that 'consumption' was the engine of the US and world economy. (couldn't agree more!) High consumption gets us to piling on debts. You just have to see the debt trap.. it's priceless. Now that consumerism is dead (..well sort of), we need a new engine for the economy.
Yo Soros, you're spot on.
And the Soros' version for pulling us out of the rut is: The green economy!
Come to think of it.. uhm - maybe that's why the Senate bailout bill was padded up with tax breaks among others for the renewables energy. The train of thought behind this bailout bill..maybe this: IF we never ever see the $700 billion taxpayers money.. at least the green economy (and renewables) will balance it up.
Sort of hedging the investment...
Here is his MONEY QUOTE, via PBS.
Putting more money in, building infrastructure, converting to green technology.
