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February 1, 2009

After Stimulus -- Then What?

-- by Dave Johnson

Suppose the stimulus passes. In fact, imagine that triple or quadruple the stimulus passes. Fine. Then what?

What happens after the stimulus? Isn't the stimulus just the next bubble -- the next last gasp attempt to put off the reckoning? Isn't it just borrowing another trillion or two to try to prop up an economic system that over and over again demonstrates that it just doesn't work?

Of course we want to do this and do it right -- infrastructure investment instead of squandering on tax cuts or military. People need to have jobs, so they can eat. And investment has a longer-term payoff.

But to what end? Suppose the stimulus magically enables things to get back to where they were. My favorite term from TV was that it is hoped it will "reignite the housing market." Heh. So if the stimulus "works" do we continue to chew up the planet, cut all the trees, remove all the mountaintops, create vast landfills of tossed junk, and all work as near slaves to make a few vastly richer?

Posted by Dave Johnson at February 1, 2009 10:37 AM


Comments

Stimulating question. My father was raised in a self sustaining economy - 1924 to 1940 in MS. Families raised their own vegetables. They used tin roofs to capture rain into the cistern. The TVA did not deliver power until the late '30. So it was a wood stove and fireplace for heat. To raise some money for 'capital investment' like another mule or shoes, they raised 10 acres of cotton on the creek bottoms. The main crop was feed corn for the cow, chickens and cornbread. They were people of faith and my great Uncles were very happy people. It was not the kingdom of heaven. Many went off to college for the first time to get out from behind the mule. But I need to read their diaries on how and when to plant as we move towards 'what works', FDR spending plans.

Posted by: Mace [TypeKey Profile Page] at February 1, 2009 11:20 AM

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