[FoRK] Cutting through the stimulus BS

Jeff Bone jbone at place.org
Sun Oct 25 04:54:13 PDT 2009


(Via Kling.)

   http://www.stanford.edu/~johntayl/Evidence%20on%20the%20Sources%20of%20Improved%20Economic%20Growth%20from%20the%20First%20to%20Second%20Quarter.pdf

So -- the "improvement" we've seen in GDP growth (mind you, not  
adjusted for inflationary / dilutionary currency effects, offsetting  
deflationary cost reductions, etc.) is *primarily* due to increased  
private investment (in equipment, as it turns out;  refresh those  
tools, boys!)

The contribution of any "stimulus" so far is de minimus relative to  
that.  Hardly surprising.  Well, except perhaps to a naif or a neo- 
Keynesian.


jb



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