Givin’ Cash to the Junkies

Here we go – let’s have some economic stimulus! Sec. of the Treasury Paulsen is talking about ‘broad based’ stimulus and one of his companions (can’t see his name) is talking about investment stimulus (business investment not stocks and bonds).

So I suppose we will send everyone $300 or something – woo hoo that will solve the problem. It’s like giving handouts to junkies- what do you think they’ll do with the money? They’ll spend it and be just as bad off as they were before this happened.

It goes back to an earlier post I made – people are crybabies – the market drops 10% and now we need “emergency action.” WHAT? we can’t stop every economic cycle from running its course and especially when we create 2 successive bubbles – we probably can’t even mitigate every cycle either – try as the Keynesians might.

I am amused that everyone in Washington is falling over each other trying to stimulate something – The Fed, Congress, Bush – all of them trying to appear that they are taking action. And they should because much of the time, our electorate is so thoughtless and they would crucify a politician that came on TV and told people that they were going to do nothing. And nothing is probably what we should do – you can’t save people from what’s coming.

Besides, growth will return – but if you really want to spur growth, stop limiting work visas for ambitious and educated immigrants. We need energetic new blood – not Santa Claus.

Chris Grande