Wednesday, January 28, 2009
'In ways they have long yearned to do'
Yet more evidence the economic-stimulus package really isn’t an economic-stimulus package. ... Notice how the goal posts keep moving. One day they're saying we need to spend the borrowed money RIGHT NOW. Then you see how many of these programs stretch until Dec. 2010 and beyond. ... Two industries the least hardest hit by the recession, and they're getting the lion's share of the fed money: health-care and education. Notice that the student-loan industry -- which effectively promotes young students going into heavy debt -- is very happy. I'm sure some unemployed Wall Street types are heartened that a new bubble market for their skills is opening up. It's not over! ... For conservatives, there's always the consolation that the seeds of their comeback, despite themselves, are being sowed as we speak. Remember the emerging, groundbreaking Hub Blog economic theory on alternating economic theories:
Yet more evidence the economic-stimulus package really isn’t an economic-stimulus package. ... Notice how the goal posts keep moving. One day they're saying we need to spend the borrowed money RIGHT NOW. Then you see how many of these programs stretch until Dec. 2010 and beyond. ... Two industries the least hardest hit by the recession, and they're getting the lion's share of the fed money: health-care and education. Notice that the student-loan industry -- which effectively promotes young students going into heavy debt -- is very happy. I'm sure some unemployed Wall Street types are heartened that a new bubble market for their skills is opening up. It's not over! ... For conservatives, there's always the consolation that the seeds of their comeback, despite themselves, are being sowed as we speak. Remember the emerging, groundbreaking Hub Blog economic theory on alternating economic theories:
Supply-side tax cuts work somewhat well during mild- to medium-level recessions, while a dose of Keynesian spending works somewhat well during more severe times. The irony is that excesses by supply-siders sometimes create the conditions for Keynesianism, while the excesses of Keynesians create the conditions for supply-side economics. Not a bad theory, if I may say so, especially the irony part -- which I'm quite serious about. ...
