No matter what they do, we will have to go through the pain that’s accumulated due to Greenspan’s insistence that recessions NOT happen under any circumstances.
Lots of deflationary pressure under all of this debt, IMHO, and while the govt should do something to help mitigate some of the damage to the **real** economy (not the banking cartels), they are going about it the wrong way.
I fully support infrastructure projects and spending on social safety nets during these times. We would face some serious social problems if we don’t keep healthy, young workers occupied; and we need to prevent them from becoming desperate.
The jobs programs are NOT about “stimulating the economy” as much as they’re about keeping social order, IMHO. In addition to this, we get to improve and maintain the infrastructure that has been neglected for so long because we were focused on flowing money into the financial industry instead.
We need to support workers, not banks. Money will be printed either way, but one benefits society, while the other only benefits the wealthy.
