The Truth...Oh No, Not That

A complete breakdown on the actual effects of various stimulus programs is HERE. What may shock you is the overall data that indicates nothing works really well other than getting loaded and fucking the person next to you. A sample of this unusually well thought out data:

Building infrastructure creates jobs — but for a relatively small number of skilled tradesmen and a million immigrants from Mexico (attracting back many who left following the crash in housing construction). And its slow. Jack Wells, Chief Economist for the Dept of Transportation, said:

“Finally, it takes a long time for these jobs to be created. Infrastructure construction requires a long series of steps to plan, design, get environmental clearance on, and construct infrastructure projects. Only about 27% the funds, on the average, are actually spent (“outlayed”) in the first year, while another 41% are spent in the second year.”

We are in a very tough spot. The thing nobody wants to face is that the root cause is we consumers were borrowing money the banks, brokerage firms, and the stock market were basically printing. Link to the entire piece is here.