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Reich on government spending
Posted on:: November 9th, 2008
I don’t know enough about economics to fill a Powerpoint slide, but Robert Reich’s argument for government spending makes sense to me. Unfortunately, that translates to: “It seems coherent, even if it is factually wrong, and, besides, I like Robert Reich.”
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I hadn’t read his article until you recommended it. Thanks.
But the problem right now is liquidity. No one (in an institutional sense) trusts anyone else to be solvent enough to pay back a loan. Under the present circumstances, little money is gonna flow in the financial world until some semblance of trust is restored.
The national investment plan is great but longer term than resolving the illiquidity problem. OTOH, this is the one which will help the citizens.
The more I read about the economy, the more I agree with a comment by Megan McArdle at the Atlantic: “Anyone who says they understand the current financial mess almost certainly does not really understand it.”
David, your final sentence here is wonderful.
I agree with both of your statements.