Monday, October 20, 2008

The son of the stimulus

Federal Reserve Chairman Ben S. Bernanke is bringing back economic stimulus as his newest weapon in the latest round of Economic Cloverfield. It seems Team Bush is luke-warming up to the prospect as the worldwide collapse of the market has given it reason to think that maybe the first stimulus didn't quite land on target. Bernake called for focusing a stimulus for that sector of the economy that is weakest, without actually saying where that is or ought to be. The Democrats are calling for $300 billion for infrastructure, unemployment benefits, and other various and sundry items for the not so rich that some formerly on Wall Street are likely to become acquainted with. Oh, and the stimulus should also clear the blocked credit arteries and not make the deficit mushroom. With the monster still at large, this latest weapon in the arsenal is more likely to be deployed, but it's collateral effects are yet to be determined.

1 comment:

Jason said...

Bailout this Bailout that...Where does the money come from in the so called global financial crisis. Have you looked into who owns the U.S. debt?

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