Monday, March 31, 2008

The Wisdom Of Taxi Drivers

The economy and working people

Taxi drivers in Washington DC coping with hard times discuss what the government should do:

My favorite part of the video is the advice that the one cab driver gives about mortgages. His suggestion of changing peoples adjustable rates to fixed is simple and elegant. Why doesn't the government just quickly enact this into law?

Working people simply can't afford the high cost of everything in the United States. Raise the minimum wage!

Here are some parts of the video that I especially like:

PALEVSKY: Do you think the US government can do anything about it?

HALID: I believe so.

PALEVSKY: What can they do?

HALID: By bringing the troops home. Simple as that. I think that that will put the country on the right track. I do believe so.

PALEVSKY: Do you think it'll help the economy?

HALID: I think so. Yes.

TED, WASHINGTON TAXI DRIVER: Look at cost of living.

TADESA: [crosstalk] The cost of living going higher.

TED: Cost of living, everything going up: gasoline; housing; even groceries; stamps. Everything going up.

PALEVSKY: What can government do about it?

TED: Government? They have people that their specialty is just to work on that, like, economists, guys like the Fed, okay? You see, this is inflation right now. They have to give people raise to meet up with inflation.

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