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Bad analogy. Here's a better one: When a patient is dying of blood loss, you don't continue to put more leeches on and make charts showing how his cheeks will
by lzw 16y ago
Bad analogy. Here's a better one: When a patient is dying of blood loss, you don't continue to put more leeches on and make charts showing how his cheeks will be rosy if only we add more leeches.
The "stimulus" destroys jobs, it is a leech on the economy.
- Experimentalist 16y agoHow about this: When a blind fat man gets depressed, you console him first. You don't immediately put him in a go-kart with a fistful of antidepressants,a bottle of gin and a sword in order to combat the lack of euphoria that caused the depression.
- fauigerzigerk 16y agoNo, your analogy is bad because it ignores timing and that's what it's all about. Shifting debt around to buy time can make sense. It's what we do when we refinance expensive credit card debt replacing it with a cheaper bank loan. The government can borrow at 2.5% for 10 years. It can buy time that indivuals or banks cannot buy. If that time is used to let the economy recover a little and then make structural reforms to reduce debt, the idea can work.