ANOTHER ROUND OF STIMULUS? PROOF THAT WE ARE IN A “METHADONE ECONOMY”

December 13th, 2009 by Al Lewis (alewis)

I hate to be one of those I-told-you-so guys (not!) but way back in April I predicted a second round of stimulus, in 2010. I pointed that that the housing bubble was like heroin, and the first stimulus was like Methadone to prevent the economy from going “cold turkey” after the housing bubble burst.  (That first-time homebuyers credit is also pure Methadone specifically for housing viagra sans ordonnance.) And guess what? Methadone is addictive too, so that’s why we are getting a second round of stimulus and may need a third round in 2011.

We are in a “Methadone Economy,” as I pointed out and the Financial Times recently agreed. The following link is from April 13, 2009. This posting still holds true — it could easily have been written yesterday, except that I was too busy beating Mary at Scrabble, so it’s lucky I had already written it.

http://www.thinkoob.com/2009/04/13/more-on-the-methadone-economy/

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One Response to “ANOTHER ROUND OF STIMULUS? PROOF THAT WE ARE IN A “METHADONE ECONOMY””

  1. John Says:

    I think the only open question is intent. Do we believe that this is solely incompetence, or can we conclude that this congress and administration are proactively destroying the American economy and with it the American social system? Methadone, as Al and FT agree, is addictive, and without a well understood program for diminishing the dependence as dangerous as the heroin it replaces. (Interesting personal note - I have had the same number of friends die from methadone treatment as from heroin.)

    Were it just congress I could go with incompetence. But this administration has some brilliant minds, and more to call on, to go that way. Any clues as to the endgame?

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