Pay not to produce

[sjay]

Weakness in chinese currency and too much oil production dropping prices seem to be the main reasons for weakness in the economy.Why doesn't the fed instead of heading towards negative rates pay our oil producers to slow down production?

 

[william the wie]

A far better idea is to go a quarter of the way with Obama. Impose a $10/bbl levy on the importation of crude on everybody but free trade partners who are net exporters. And say $2/bbl a month for storage in the US. Use the National Security exemption that will drive Russia, China and Iran right up a wall.

 

[Agit8r]

Could just increase our strategic reserves.

 

[anotherlife]

No, the OP is upside down in logic. A consumer driven economy such as the USA gets stronger and not weaker when commodity prices drop, most notably oil and Chinese goods.

And paying not to produce is a good idea in the 21st century, since we are already drowning in inventions that nobody needs. Soon everything will then be lost to automation, and we will have no more latitude than to just bugger each other. Hehe.