Stimulate This!
Why does this stimulus package seem more like political graft and patronage than really pumping lots of money into the economy ala Keynes? Taxpayers (present and future) and their money seem to be going to a huge buffet of pork, especially to grease local and state governments and it is all being disguised as an injection to prime the pump of the recession sliding economy. As you break down the bill (and its guises) there is simply too many pet projects and huge chunks of money allocated waaaaay down the road. And there are no guarantees it will do any thing. The whole business cycle could very well fluctuate back into the black with or without this, but the money would be spent anyway. This is just ridiculous--paper money and politicians. But the mob wants anything to be done. Welcome to the junction of Bear Market and Mobocracy.
Newsweek has a very nice summary of the three-headed economic beast we are encountering and why the stimulus is only an arrow aimed at one head.
George Melloan at The Wall Street Journal reminds everyone of the "Leaky Bucket" theory and why the stimulus seems to be just that.
And since Keynes is tossed about randomly right now you can read a long piece from the New Republic on Obama and Keynes HERE (if you wanna here from one voice from the Left)
You can't know how or why
4 weeks ago
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