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Many economists argue that the 2008 stimulus didn't do enough, and that where it did provide stimulus it was applied at the wrong places (towards the top rather
by sauwan 6y ago
Many economists argue that the 2008 stimulus didn't do enough, and that where it did provide stimulus it was applied at the wrong places (towards the top rather than the bottom). That's why we're seeing this response to the current situation.
- api 6y agoIf you are going to do stimulus, the way we are doing it now is better. Even better still would be to drop money from helicopters. There's an argument to be made that we have done too much over the past ~10 years and are risking significant inflation, but that's a separate argument and it's hard to say what else we could have done that would have been better. Inflationary blowoff is usually less painful than deflationary depression, but neither is good. Policy is often an exercise in choosing the least awful option.
- imtringued 6y agoI agree, ineffective policies just cause unintended consequences. If the Fed or us government had done its job we wouldn't have to print so much money in the first place.