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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: LLCF who wrote (28515)2/7/2003 10:28:14 PM
From: yard_man  Read Replies (1) of 74559
 
DAK,

But look how friggin ignorant these Nobel winners are:

>>The economists offered an alternative economic plan.

"To be effective, a stimulus plan should rely on immediate but temporary spending and tax measures to expand demand and it should also rely on immediate but temporary incentives for investment," they said.

<<

First, none of them question whether or not there should be a "stimulus program" in the first place.

They think that stimulating consumption is a solution and that temporary boosts to investment will help (obviously, investment does not mean capital formation as that is antithetical to stimulating demand). To be sure -- they don't even know what the problem is. I see Bush's plan as hurting everyone less than what they would propose. Of course, better yet, would be to do nothing and let the process of debt liquidation run its course.
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