Austerity now
By Creature
"I wouldn't do a major second stimulus because I think...we run a risk that it could be counterproductive in creating a lot of additional uncertainty and undermining confidence." Bob Rubin, former Clinton Treasury Secretary and god to current one.
Maybe it's just me, but wouldn't Wall Street be much more "confident" if they knew further stimulus spending was a possibility. More spending means more people can buy their crap. That should be a good thing, no? Only in a world where the haves already got their bailout does this make sense.
"I wouldn't do a major second stimulus because I think...we run a risk that it could be counterproductive in creating a lot of additional uncertainty and undermining confidence." Bob Rubin, former Clinton Treasury Secretary and god to current one.
Maybe it's just me, but wouldn't Wall Street be much more "confident" if they knew further stimulus spending was a possibility. More spending means more people can buy their crap. That should be a good thing, no? Only in a world where the haves already got their bailout does this make sense.
Labels: economic stimulus, Larry Summers, Robert Rubin, Tim Geithner, U.S. economy
posted by creature at
1:10 PM
3 Comments:
Pretty hard to buy anybody's crap, if you don't have a job, or you're afraid that you won't have your job in the near future. Pretty hard for a company to provide a job if they think that Obamacare and an increase on business taxes are going to bankrupt them. I doubt if you'll agree.
By
AllenS, at 9:13 AM
I do disagree, Allen. I think the Obamacare-taxes-regulation meme from the right is just an excuse. If demand was there, they would hire. Just like they always have.
By
creature, at 5:15 PM
Hey, Allen, those folks could always go into business selling goldbricks, just like that working-class hero Glenn Beck. Seems to be a pretty good line.
By
Mustang Bobby, at 7:05 AM
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