more evidence of this type stimulus working
than there ever has been for trickle down economic
funneling down to workers.
During the financial crisis I said we should have invested in high speed rail service between the 20 largest cities in the US and put them in the medians of existing highways and give displaced truckers and vets priority as construction workers and rail employees.
(It's on here somewhere
or lord knows I told enough people about it that its a known fact what was said)
"Ten years from now, when economists mull the exact moment the U.S. ceded the future to China this week’s events are sure to top the list of time-stamp candidates.
This was the week, after all, when Chinese President Xi Jinping tossed another 4 trillion yuan, or $565 billion, at an economy taking devastating coronavirus blows. The 4 trillion-yuan figure will sound familiar to students of 2008 and 2009, back when Beijing threw exactly that amount at plunging demand amid the “Lehman stock.”
It worked back then. China recovered rapidly from Wall Street’s crash thanks to aggressive infrastructure spending. By 2009, China was growing 8.7% again thanks to giant public works projects—six-lane highways, bridges, ports, new skyscraper-strewn commercial centers."
"Within the same 24 hours during which Xi’s announced a nearly $600 billion plan to build even more airports, railways and power grids, Senate Majority Leader McConnell gave the thumbs down to comparable upgrades to America’s economic hardware. “Infrastructure is unrelated to tshe coronavirus pandemic that we're all experiencing and trying to figure out how to go forward,” McConnell said.
"Trump isn’t increasing competitiveness and productivity or catalyzing innovation. He’s cutting investments in education, training and health. Trump’s Republican Party is avoiding the infrastructure “big bang” needed to raise America’s economic game. Instead, it cut taxes in ways that reward billionaires without incentivizing companies to fatten paychecks or hone competitiveness."
Over the last few years, Trump widened the gulf between rich and poor by putting monetary easing ahead of structural reform. It’s the same mistake Japan has been making since the 1980s. Stimulus alone does nothing to reduce corruption, increase efficiency or level playing fields.
My point was then and is now.
The WPA worked and we need another one and fast.
The thirty five year old children of today never even heard of the damn thing.
And if they ever did they were brainwashed into thinking:
"We can't afford that"
Well?
Now wat ya think?
My point is.
I know way more than I ever should.
Sooner or later people are just gonna have to start accepting it.
"They shall interpret scripture,
and speak of things secret, distant, and future,
which by the utmost sagacities of reason,
and their natural powers,
they could not have any insight into nor foresight of."
Sagacities is a great word BTW.
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