Ok. I read the article and there are some good suggestions about Obama laying out what he'd like the solutions to look like. But the author also said this:

Consumer spending is responsible for about two-thirds of all of our economic output, and as soon as people stop feeling so poor, they'll just jump right back in.

That's making one huge assumption. The assumption that people, after this crisis, will be focused on material goods and shopping.

I don't think so! I predict that people's focus will no longer be on just accumulating things. I predict a shift in values, which will last for decades at the very least. I foresee people learning to live on less, and needing to do that. People may choose smaller homes. They may save more. They may find ways to socialize at home. They may find they have plenty of clothes and other goods. They may find themselves avoiding malls and making sure they get out of debt.

We're looking at a different economy for quite some time. That's my view of it. Time will tell. But people are going to be so scared by all of this that they will likely focus on way more than short term fixes, such as buying gew-gaws, eating out, taking vacations, or getting more cars and houses.

I still think calm is called for. But a calm that is based on paying debts and staying out of debt along with living at a slower pace.