Stimulus Links  

Posted by Wayne Bretski in

The stimulus package....political self-gratification at its finest.

Steven Landsburg makes a good point about twilight industries (for example, those pandered to most sloppily during the primary season):

Ultimately, the only solution to unemployment is for displaced workers to get retrained and find their way back into the workforce. The new stimulus package only delays that process by propping up dying industries for a while and postponing the day of reckoning. Ultimately, there will be just as much hardship because the stimulus package can't last forever. Why spend all this money trying -- and probably failing -- to delay the inevitable?

Japan in particular moved their economy extremely quickly from Industrial Revolution-era industries to high-tech ones by subsidizing the losers: paid re-training for computer skills, severance packages for older workers, and other more subtle (keyword: market-tweaking) measures.

Also today, I'm going to do the unthinkable: link to a Bob Herbert post. Okay, so it's still sophomorically written and over-simplified, but it's one meta-issue on which I agree with Mr. Herbert (can I have that job??). Read Investing in the U.S. at the NY Times; the crux of the issue is that the nation's infrastructure is falling behind the rest of the world and more importantly, behind the capabilities of our economy. Mr. Herbert reminds us that government spending on public works is good for economic stimulus, pointing to the Erie Canal and the New Deal. OK, great. Obvious, but true. Let's not wait for another I-35 Bridge Collapse or Hurricane Katrina to prove that our roads, bridges, dams, ports, trains, etc. are out-moded.

Tyler Cowen at Marginal Revolution noted recently that it would be more beneficial for everyone who got money back to invest in annuities so that the feds could borrow at low interest rates for us. I think he hits the nail on the head by saying that inadequate aggregate demand was never the problem, and thus, greater liquidity isn't a solution. Read his always-cogent comments here.

Finally, Greg Mankiw, never one to beat around the bush, puts together a list he calls The Coalition Against Fiscal Stimulus, including Mr. Landsburg, Alex Tabarrok at Marginal Rev., Russ Roberts and Don Boudreaux at Cafe Hayek, and a host of others.


Hello !.
You re, I guess , probably curious to know how one can collect a huge starting capital .
There is no initial capital needed You may start earning with as small sum of money as 20-100 dollars.

AimTrust is what you haven`t ever dreamt of such a chance to become rich
The firm represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

Its head office is in Panama with offices everywhere: In USA, Canada, Cyprus.
Do you want to become a happy investor?
That`s your choice That`s what you wish in the long run!

I`m happy and lucky, I started to get real money with the help of this company,
and I invite you to do the same. It`s all about how to choose a correct partner utilizes your savings in a right way - that`s it!.
I take now up to 2G every day, and my first investment was 500 dollars only!
It`s easy to join , just click this link
and go! Let`s take this option together to become rich

Good day, sun shines!
There have been times of hardship when I felt unhappy missing knowledge about opportunities of getting high yields on investments. I was a dump and downright pessimistic person.
I have never imagined that there weren't any need in large starting capital.
Now, I'm happy and lucky , I started take up real income.
It gets down to select a correct partner who uses your funds in a right way - that is incorporate it in real business, parts and divides the income with me.

You may get interested, if there are such firms? I have to tell the truth, YES, there are. Please be informed of one of them: [url=]Online Investment Blog[/url]

Post a Comment

Recent Comments