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Waiting for the other shoe

Now that the stimulus bill has been passed and signed, how many days do you think it will be before we start hearing news of hopeful signs in the economy.  If you think all the doom and gloom we’ve been hearing (not that there aren’t some real problems in the economy) claiming that this crisis requires swift, massive action was anything but an excuse to pass a mass of leftist wishlist sludge and give the government an excuse to intrude into our lives in a variety of new ways, consider that the Philadelphia Federal reserve is predicting economic growth by the 3rd quarter of this year.  As Coyote says:

One problem with the stimulus bill is that it is so diffuse, so poorly understood, and so impossible to measure, that it will allow its supporters to claim anything about its effects.  If no one knows what is in it, how do you measure effectiveness?  Long recession?  Those dang Republicans slowed the bill and kept the size too low.  End of 2009 recovery?  It’s because of the stimulus bill (never mind that the money will not have even really been spent).

I’m not much on predictions (my own or the Fed’s) but I’m betting that the doom mongers will start lightening up in the next few days or weeks and will soon be spouting positive messages about the economy.  Most of us will hear that and know that since we “did something drastic” to save the economy it must be true.  And the notion that you can borrow and spend your way to prosperity will be reinforced for the next crisis that needs massaging to justify more government intervention.

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