Friday, January 30, 2009


Yes, Andy Policano, my esteemed uncle, is the Dean of the Paul Merage Business School at University of California at Irvine. Here is an article and video of an interview that Andy gave to OC Metro.
(courtesy of UCI)

He raises some good points, such as the "paradox of thrift". It must be in my blood. I didn't know that people all saving instead of spending was the "paradox of thrift", but I have been saying that people have to spend right now, not save. The people with money and secure jobs need to take advantage of the bargains on goods and services to help stop the downward spiral.

This is critical especially when you consider the words of my friend Dan Scouler, "don't underestimate the power of the negative trend."

As for the video, Andrew, great job! But the tie selection, you really shouldn't wear such a somber tie when there is a crisis of confidence.

Cheers, Mike

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