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    an injury to property is an injury to all!..., 2008-10-29 22:43:15 | Main | the independent Center for Data Analysis?..., 2008-10-30 13:45:03

    the cake is a lie:

    Approximately, there was only one source of growth this quarter. Sadly, the economic stimulus of national defense spending has a low investment value and probably hurts growth in the long run, so these numbers are just ass backwards:

    Real federal government consumption expenditures and gross investment increased 13.8 percent in the third quarter, compared with an increase of 6.6 percent in the second. National defense increased 18.1 percent, compared with an increase of 7.3 percent. Nondefense increased 4.8 percent, compared with an increase of 5.0 percent. Real state and local government consumption expenditures and gross investment increased 1.4 percent, compared with an increase of 2.5 percent.

    The gist of the take away should be that borrowing our way out of a depression would work better if we bought something that created future customers - that is, actually promised some return on investment - rather than going into debt to build 2 ton barrels of laser-guided demand destruction.

    Food stamps, for instance, promise a return on children growing up with the fully developed spine and ganglia necessary for the backbreaking labors they'll have to undertake to pay me my social security entitlements 40 years from now. I'm afraid if we just let them go hungry in times of want that they'll grow up too retarded for the job and my benefits will be slashed.


:: posted by buermann @ 2008-10-30 11:02:15 CST | link





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