So, Wall Street doesn't like THE STIM? I guess they think we should all be good little salmons, swimming upstream, fighting a life-or-death battle against the elements just to keep feeding their greed. It's so rich to hear rich people complaining that too much government money will be spent on things other than them! Tax cuts for the wealthy and riskfree corporate welfare weren't enough?
And what's all this FOX GOP noise that the impending deficit spike is a "generational theft"? They certainly weren't concerned about mortgaging our grandchildren's future to pay for unecessary wars (wars ostensibly fought against terrorism that actually increased the breeding grounds of terrorism)! Do we have to remind them that Mr Ex-VP Cheney said in 2001 that "Reagan proved deficits don't matter"? Most economists, like Paul Krugman, worry that THE STIM is too small.
Why do they keep flapping their lips about Hoover having the right idea, like it would be preferable to do nothing, to sit and watch people suffer and starve (they should know we only do that in regards to African nations)? George Will and other members of the Greedy Old Prick club say that the FDR depression-era programs did not solve The Great Depression, that WWII did. My parents and grandparents would beg to differ!
As the chart below shows, unemployment was decreasing during FDR's first term when he scared the pants off the establishment by instituting such radical programs as Social Security (which earned him the moniker of "class traitor" by his fellow Have-Mores). As unemployment dropped back to 15% (from a high of 25%), FDR's big mistake was to listen to conservatives telling him it was time to slack off big government spending after he won reelection in 1936. The result was unemployment spiking back up again. And what was WWII anyway, if not another massive government spending program .... another STIMULUS, if you will?
Another question that's bothering me is who is fooling whom by calling this economic meltdown "Obama's Depression"? Maybe it's the same people who blamed 911 on Bill Clinton?
Well, those are just some of my questions, as I plow through a busy week. ps, the artist of the bear/salmon painting at the top of this post is Jeff Ham. Some of the homes I'm touring this week are featuring his work.