Quote:
Originally Posted by ironweed
Yes, stimulus was the best course early on, when we were confronted with high unemployment, lack of job creation in the private sector, flagging consumer demand, and high rates of debt brought on by the housing crisis. Now that we're no longer confronted by those things, of course, we should certainly try laying off a whole lot more public sector workers and cutting taxes some more while we wait for the Job Kreators to create jobs with all that leftover cash. It's gotta happen sometime, right?
A few million more jobs, give or take.
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A disinterested, ignorant, bought-off public will seek no changes until a true crisis is at hand. No politician will take any of the steps needed to start remedying some of our problems so long as punting-and-pretending keeps the status quo afloat. We need a real nadir or we risk muddling through a horrible decade of softened landings in which our quality of life and freedoms are eroded far beyond where they would have been had we agreed to accept the pain more acutely.
We'll have austerity of a sort one way or another. Do we have it openly, so people are made aware of what's going and markets can respond, and perhaps we can get a resurgence of these alleged "animal spirits" that will lead to growth? Or do we boil slowly like a frog in a tea kettle - maneuvered and bullshitted by the corporatists running our govt into giving everything up in tiny increments? I say let reality happen on a natural timetable and see if we've got one more reinvention in us. If not, well, all we'll have done is accelerated the inevitable.
