John Irons's Blog

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Economic News, Data and Analysis

Your economy needs you!

Was on CNN today talking about what you should do with your stimulus check… some thoughts…
DO! Go out to dinner.
And make it a restaurant that serves locally-grown food. Your rebate will boost the need for waiters, cooks, and other employees. Your money will then be recycled directly back into the economy.
DON’T! Go see a movie.
Adding one more ticket sale will not result in many more employees or more movies being made in the short run. It will add to the box-office take, and perhaps lead to more movies down the road, but that’s years from now.
DO! Home Repair
Been putting off fixing that leaky faucet, sweeping the chimney, or replacing that inefficient AC? By doing those repairs now, you will keep repairmen, construction workers, and other trades people working and recycle those dollars back into the economy.
DON’T! Stock up on essentials
You may boost the economy this month, but you’ll reduce demand next month as you work thorough your supplies.
DO! Be a tourist in your own town
Go to the local museum, mini-golf course, local restaurants, and get a massage.
DON’T! Buy a ticket to Rome or go on a road trip.
With the dollar at record lows, fuel prices at record highs, it’s better to spend money close to home than to spend it abroad or on gas.
DO! Drink a micro-brew or Bud.
DON’T! Drink wine from abroad.

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