I’m not a anti-stimulus fanatic – I can see some advantage to bringing future consumption forward. It can help break the death spiral of falling confidence leading to falling sales leading to falling jobs leading to more falling confidence.

Even so, I’ve got to admit, we are becoming desperately delusional if we think destroying real value is a path out of this. Damn populist politicians… proving yet again that democracy (in its USA form) is severely dysfunctional, if not broken.

Why couldn’t that money be put into researching and developing green energy, or health, or education? That creates jobs too, but it doesn’t destroy real wealth just so it needs to be rebuilt.