Greg Mankiw continues to trace the unemployment rate (see chart) as predicted by the original calculations of the effect of the fiscal stimulus as against no-stimulus. My advanced “eye-ball” extrapolations suggest that we are following the same path as the no-stimulus projection BUT at a higher level of unemployment throughout.
Dare I suggest (ever so tentatively and with all scientific humility given the nature of the data) that the stimulus has done harm?
Tuesday, October 6, 2009
Has the Stimulus Package Done Harm?
Mario Rizzo writes:
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It's a matter of perspective. Goldman has "recovered" another cool billion recently, and their stock jumped on that. So it depends on which side of the "recovery" you are on.
ReplyDeleteUnquestionably.
ReplyDeleteThe "stimulus" package was funded by looting the taxpayer which is always and everywhere a destruction of wealth.