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Discussion: (4 comments)

  1. The NY Fed is the MOST CORRUPT of the whole Federal Reserve system. By they admitting this, they MUST have some AGENDA in the background. WATCH OUT!
    Will it be WWIII or what?

  2. Spend trillion(s) and it just barely moves the dial on GDP and employment forward. Threaten to not spend $85B (or $45B) and GDP and employment will plumett and the Dark Ages will be upon us. Why do people even listen to them anymore??

    1. Good question Gene, good question. But at least now they are recognizing the stimulus was not efficient. If they wanted to have stimulus of that size they just needed not to tax people, corporations, etc. by 500 billion in 2009 and 300 billion in 2010. Or something like 400 billion in 2009, 300 billion in 2010 and 100 billion in 2011. Easy stimulus, potentially much better results, same debt.

  3. China did it right their stimulus was massive in correlation to their GDP.China also knew it had to be efficient,and it was.The US stimulus was mostly transfer payments,and only a small amount went to direct infrastructure investment.It basically was a waste of time & money,poorly thought out from top to bottom.

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