Scary financial charts.
I know the Celente's of this world are calling for a massive retrenchment or downright collapse, but I'm not convinced the U.S. economy's, while in terrible shape, fate is sealed.
Good discussion on stimulus and whether it works here.
Stimulus does work; it's politics that determines if it succeeds or not.
Yeah, it's politics... or the lack thereof. Too many backroom deals with campaign donors. The US government is doomed to crippling corruption until finance reform is instituted. Until then, the money will magically find its way into the hands of our politician's buddies, not to those who could stimulate the economy.
ReplyDeleteIt's a shame, what with a crumbling infrastructure, some of the worst educational facilities and staff in the developed world, not to mention an obscene federal debt and several states also broke. We need a lot of stimulus, but we've been bled dry by Reagonomics for decades now.
I know I wrote stimulus works but I'm wary of its consequences. If stimulus is used to counter recessions I don't think it's wise. I also have a problem with the "if we don't do something all hell will break loose" theorem.
ReplyDeleteStimulus for its own sake isn't cook with me. Especially when it's misused.
I also tried to research the pro-stimulus guy's assertion that stimulus has been around for
ReplyDelete"seven centuries." I would love to find a source for that.