No doubt mostly correct on your assessment, but have a feral dislike for economists. Would like to see/force all of them to have a M.P.A. Just like pitchers have an E.R.A., all economists should have a missed projection average and it should be in at the beginning of any article/paper they write or are mentioned in.
No mention of the accumulation of debt, the most insidious result of all government spending that both parties are responsible for. Talk about that catastrophe waiting to happen...
IIRC, the Biden Administration went high with the ARP because many there felt that Obama went too low with the 2009 stimulus, which kept the recession going longer that it might have and helped the GOP so memorably in the 2010 midterms.
There’s also the issue of grift. Which all of the stimulus was predictable full of. We could have done all of the Covid stimulus for probably half of what they spent if 1. Politicians didn’t thinking owning 2 brand new cars and a 500,000 dollar home was “right on the poverty line” and 2. They stayed on top of the graft and actually, I don’t know, had any kind of oversight as to where that money went.
What if the $1.9 T stimulus had been accompanied by some substantial tax hikes on the rich? Could it then have achieved all the good it did but w/out causing inflation?
All wars produce inflation, and inflation is one of only three ways humans have ever invented to pay for wars. Wars in the Black Sea are especially disruptive of food systems, and therefore especially inflationary.
This is a great article. I learned a few things and enjoyed reading it. Nothing to add to that, really, just "Good stuff".
No doubt mostly correct on your assessment, but have a feral dislike for economists. Would like to see/force all of them to have a M.P.A. Just like pitchers have an E.R.A., all economists should have a missed projection average and it should be in at the beginning of any article/paper they write or are mentioned in.
If it makes you feel better, the Covidbux explicitly kept me from robbing people at gunpoint out of desperation.
No mention of the accumulation of debt, the most insidious result of all government spending that both parties are responsible for. Talk about that catastrophe waiting to happen...
IIRC, the Biden Administration went high with the ARP because many there felt that Obama went too low with the 2009 stimulus, which kept the recession going longer that it might have and helped the GOP so memorably in the 2010 midterms.
There’s also the issue of grift. Which all of the stimulus was predictable full of. We could have done all of the Covid stimulus for probably half of what they spent if 1. Politicians didn’t thinking owning 2 brand new cars and a 500,000 dollar home was “right on the poverty line” and 2. They stayed on top of the graft and actually, I don’t know, had any kind of oversight as to where that money went.
What if the $1.9 T stimulus had been accompanied by some substantial tax hikes on the rich? Could it then have achieved all the good it did but w/out causing inflation?
The republicans may be crazy, but you might want to send them a note of thanks
All wars produce inflation, and inflation is one of only three ways humans have ever invented to pay for wars. Wars in the Black Sea are especially disruptive of food systems, and therefore especially inflationary.