I was going to say something a tad less harsh along those lines. That, and that it had already been amply established that tax cuts do not pay for themselves. Meanwhile, the employment created by the infrastructure spending, and the ripple effect it will have, will help to ease a difficult situation until conditions improve. With tangible and lasting results to show for the effort.
obamanomics question...
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so pretty much, at this point everyone in this thread is anticipating a long recession and a likely market sell-off in the near future?
unrelated to the thread... i was aiming for a correction late sept/october, based on a few things and then this lil tidbit hit the news and it was a non-event which just let me thinking to a few other things but could not place how this booster shot would do anything on macro scale at this point in the game.
unrelated to the thread... i was aiming for a correction late sept/october, based on a few things and then this lil tidbit hit the news and it was a non-event which just let me thinking to a few other things but could not place how this booster shot would do anything on macro scale at this point in the game.
Infrastructure is necessary. Infrastructure has a limited life and must be rebuilt/repaired. Better to do this during hard economic times rather than in boom times. That is the rationale. This rationale works, if the project is large enough. I don't think the USA government is throwing enough money into this though. They should have scrapped all the bullshit stimulus pork from the first round, and came up with an infrastructure plan in the first place.
Infrastructure is one government expense that should be welcomed by all.
Infrastructure is one government expense that should be welcomed by all.
No one said it going to help the economy. Obama said keep people working. It has nothing to do with helping the economy. If you have someone destroying a perfectly good road and then have some people to fix it, it's put people to work. It doesn't product or improve anything. In the matter of fact, by creating these "jobs" cause other problems such as traffics.
The thing that people fail to realize is that most of the unemployed have no real skill and provide no real return on the work they are being paid to do. These people were paid 50K a year to take sheets of paper, stamp them and put them in another pile. With advances in software and automation, most of these jobs have been replaced by a 1K computer and a 2K software license. Non Government entities actually looking to maximize profit have no use for these people at any wage when they can be replaced for 3K/year in software/computers.
The scary thing is the % of the population that is just "looking for A JOB" is going to continue to increase as menial tasks are continually being automated.
Unless you actually add value to a bottom line, you don't have much hope of being employed.