After recommending yesterday that our leaders should stimulate the economy by investing in infrastructure rather than mad money stimulus, and after discussing this with some business associates, I have a few more thoughts I'd like to share.

We have been hearing that 70% of our economy has been supported by the American consumer. Congress and the President have agreed on -- or colluded, depending on who you speak with -- a bi-partisan economic stimulus package. When, and if, the check arrives in the mail, there might be short-term glee among the populous. But if it is used just to stimulate more consumption, then it will only serve to postpone the pain by some time -- perhaps a month or two.

If I get anything back, I will be using it to reduce debt or invest in equity and nothing else. I hope my fellow citizens are able to understand that reducing debt or investing in equity has some value, while consuming, that is, rushing out to buy a flat-screen television or a new PlayStation, is a complete waste of a one-time opportunity.

By the same token, the government should be thinking about how to stimulate productivity, not consumption. This would go a long way to reduce the national debt and our trade deficits in the long term. Our focus on consumption is the major difference between us and our trading partners. China, India, Korea, Singapore, Taiwan and the rest are working hard on increasing productivity (through infrastructure and education), and we are financing them with our consumption.

This means that while they increase their equity around the world, we increase our debt. While they strengthen their currency, ours practically free falls. While they have increased power in the world, ours is diminished. This is a trend that must be stopped or some time in the future we may still live in the United States, but in actuality we will only be renting it from others.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money.