This graph might look familiar. It is in the “secret” (well, the title at the top says “embargoed until Jan. 10, 2009. So you now it has to be important.) The Job Impact of the American Recovery and Reinvestment Act.
So, if I can make out exactly what is suppose to happen, without the stimulus, unemployment should have been 9%, but not until 2010. Hmmm…what is it now???
According the BLS, it’s already 9.4%. Oh, and that would be WITH the stimulus. Of course, the “good news” is that the job losses were not as bad. See, were already “saving” jobs.
But in reality, the destruction is only beginning. Rather than letting the malinvestment work its way out and letting the economy recover, then generate real wealth and real growth, all we’re getting is government fueled destruction.
The fed has been printing madly, the government has been borrowing and spending wildly, and the economy has been collapsing. The freefall will only continue. But of course, the enlightened will only see this as a call to do more. The problems, we will be told, were that were that the fed didn’t print enough, the government didn’t spend enough, and the public didn’t spend enough.
What got us into this calamity will never be addressed. What will never be accepted is the truth, that the boom was artificially driven by monetary expansion, that tremendous wealth and resources were diverted away from productive ventures. Those with full responsibility will never accept their roles, and will only clamor for more control, more power, and a correspondingly greater loss of freedom, liberty, and prosperity.
The only thing a stimulus package does is stimulate the growth of government.
Maybe that was the plan all along?