Skip to comments.Guest Post: The Unstimulus
Posted on 10/09/2012 7:34:12 PM PDT by Snuph
Obama might talk about spreading the wealth around, but the aggregate effect of the policies pursued during his administration have squarely benefited large corporations and the financial sector, and not the middle class or small business. Is reinflating financial bubbles and pumping up corporate profits Obamas idea of recovery? The money isnt trickling down, and small businesses and the middle class are more in debt than they were before the crisis started. Income inequality is soaring. The financial sector is richer than ever. American infrastructure is still crumbling. Housing starts are still deeply depressed, even as homelessness rises. And of course, employment is still deeply, deeply depressed. The stimulus didnt get America working again. With a monstrous and broken financial sector still totally failing to provide adequate capital to Main Street, totally broken algorithm-driven markets that have alienated retail investors, and budget deficits that remain persistently high, this should surprise precisely nobody.
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If they would have opened up the national phone book and picked one million people at random and sent them a check for $1000000 each they would have had a lot better stimulus .
They could have paid off every mortgage in the US for far less than they have given to the banksters.