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Friday, September 9, 2011

Possible Help for Obamajobs - Manmade Disasters or an alien invasion could stimulate the U.S. economy

Maybe that is why he wants more illegal aliens.
More of the Wrong 'Broken Windows.' Read Bastiat.
Then of course, there is John Maynard Keynes: "The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again."

Manmade Disasters | Michael D. Tanner | Cato Institute: Commentary

by Michael D. Tanner

This article appeared on National Review (Online) on September 7, 2011.

Earthquakes, hurricanes, floods — Paul Krugman should be ecstatic. Not about the suffering and loss of life, obviously, but because the cleanup and rebuilding should provide exactly the sort of Keynesian stimulus that Krugman believes this economy needs. There is now an increased demand for home construction, flood remediation, and auto repair.

Remember, this is the same Paul Krugman who mused, a few weeks ago, that what this country really needs is an invasion by space aliens. Preparations for an intergalactic war would mean that "this slump would be over in 18 months," he suggested.

That is because Krugman and other Keynesians believe that what is troubling this economy is a lack of demand. Anything, therefore, that causes people — or governments — to buy more things is good, be it a disaster, space invasion, or a government jobs program. Keynes himself famously noted that the government could create employment during a recession simply by paying some people to dig holes and other people to fill them in. It's only logical, therefore, that we should welcome at least the economic effects of destruction, so we can create jobs by rebuilding.

-read on at link-

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