stimulus rant

It is difficult to be a libertarian in an economic crisis. The Freeloaders and Illiterates spew their stupidity everyday. Eventually, you get to the point where you simply have to rant.

Government can not create wealth. Government can transfer wealth; government can destroy wealth; government can, on its better days, create an environment and incentives so that individuals can create wealth. But Government itself can not create wealth.

When overall demand is low, Government should make investments, especially in areas where the costs are lower due to excess capacity. Tax shifts to later generations make no sense when demand is low. People are already deferring consumption; government should lean in the other direction. And do not overestimate what government can do; it can not "restart" the economy; it can not fully make up for private demand. The idea that bankers will suddenly do their jobs better because they are now government employees --well I can't politely describe what that is.

Subsidies

When you subsidize growing corn, you get too much corn.
When you subsidize auto plants, you get too many auto plants.
When you subsidize stupidity, you get too many lawyers and politicians.

It looks like the Freeloader party (AKA Republicans) have managed to extort changes in the "stimulus" bill. The bill coming out of the Senate will have $100 billion dollars in subsidies instead of a like amount of purchases. And other elements of the Freeloader party is attempting to delay even this deal so that the President will not have a bill to sign by Presidents Day (banks are closed for a day and Congress takes the week off.) Meanwhile, the unveiling of the bank rescue plan was delayed by another day (to Tuesday) because it really wasn't all that important.