Friday, January 09, 2009

A Really, Really, Really BIG Stimulus is Better!!

Sure. It has to be BIG because, .....ah.....umnnnnhhhhh......well, because it HAS to be big!

Got that?

I was reminded of the Battle of the Somme, one of the worst policy blunders of all time. Having experienced nothing but failure using offensive tactics up to that point, the Allies decided that what they needed to try was....a really big offensive. Just as Feldstein and Stiglitz pay no attention to the on-the-ground the housing market, the British generals ignored the impact of machine guns on men advancing over open fields.

Well, obviously, that's not the same thing, right?

HT: Redstate

No comments: