Obama's new public works spending program

Current Events Economic News
1

This weekend Obama announced “the largest infrastructure-spending package since the 1950s”, on the mistaken belief that increased government spending and employment will lead to increased production and stimulate the economy. More likely, though, is a replay of the results of the increased spending of Hoover and Roosevelt - turning a “market adjustment” into a sustained depression. How many centuries will it be before economists and politicians stop trying to have their cake and eat it too?

2

How many centuries will it be before economists and politicians stop trying to have their cake and eat it too?

I hope the answer to this is not more than 2. I think they’ve been trying for about 1 1/2 so far, at least the economists have. Politicians have been doing it for a lot longer. They’ve resorted to either looting via conquest or debasing the currency to prop up a fundamentally unproductive system and/or finance wars of conquest *at least* since the Persian empire. The Soviet Union lived off of looting its conquests and foreign aid, and the US government is running the printing presses at full blast. (Don’t the things ever overheat and shut down?)

3

This weekend Obama announced “the largest infrastructure-spending package since the 1950s”, on the mistaken belief that increased government spending and employment will lead to increased production and stimulate the economy. More likely, though, is a replay of the results of the increased spending of Hoover and Roosevelt - turning a “market adjustment” into a sustained depression. How many centuries will it be before economists and politicians stop trying to have their cake and eat it too?

I smell another depression coming on…

4

I smell another depression coming on…

Not sure about that. Times were actually really tough then. Too many people with DVD players, cell phones, and all kind of nice things yet. Let along having food.

Still, I think I’ll look for a cash job to reduce my tax load.

5

I’m not saying another depression is assured, I’m just saying government interventionism is what caused the last one, and more intervention is being planned now.