The iEconomy

Given the recent stock market meltdown which is unfolding before our eyes, I thought it would be a good opportunity to discuss some economics. While not directly related to federal politics, I would like to take the opportunity to share some ideas which came out of a recent meeting I had with a colleague. We were discussing the state of the US economy (I think the phrase "In the toilet" sums it up quite eloquently...) and how it is a key source of jitters on the global markets. Yes, I accept that Greece and the various other European debt riddled nations are also to blame, but we decided to focus our rage at the Americans; after all, that is the fashionable thing to do...

"They must rein in spending!" My friend exclaimed whilst cleaning his monocle. "Surely those boffins in Washington can straighten out their accounts and then we can get back to business. All this nonsense about debt ceilings is just political sabre rattling."

"I concur, partisan bickering will get them nowhere. They must put their differences aside and reduce their debt." This is where genius struck and I formulated the economic framework which President Obama will likely implement the moment he hears about it. "By Jove, I think I have it! A new revenue stream, that is what our friends across the pond need!"

"But what? Where will they find new money?"

"They could rent out famous landmarks to corporations! Enterprising organisations are always looking for the next marketing edge, so why not allow them to plaster advertising over some of the United State's most recognisable landmarks? Imagine: The Statue of Liberty holding a giant can of Coke instead of the torch, cradling an iPad 2 after being resprayed in the Google colours! By making a few adjustments to the Washington Monument we could make it look like the 'poke' hand from Facebook! In the same vein I'm sure Mark Zuckerberg would pay handsomely to have a statue of himself replace that of Honest Abe at the Lincoln Memorial..."

"How about 'Facebook Wall Street' where people can post messages while trading stock?"

Well that's just ridiculous...