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To: yard_man who wrote (200)	2/18/2004 3:41:27 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 116555

Actually, I was referring to RF Kahn's "The Relation of Home Investment to Unemployment" from 1931 (not frequently read these days <g>). Most of the stimulus we are seeing right now is monetary from the Fed, as opposed to fiscal stimulus from Bush. The Fed has a role in job creation too and right now they are pushing as hard as they can. Of course, the Fed has two masters: growth and price stability. That is why inflation / deflation is widely discussed on this thread. As far as Bush's "stimulus", the simple answer is that his spending is misdirected. This would take a much longer post to discuss, but I do not think this "recovery" is self-sustaining. Best wishes.