09/06/2008 11:31:32 am
How Did You Spend Your Stimulus? In the current Keynesian fashion of American government, the so-called stimulus package came into effect in recent weeks. US politicians wanted to soften the economic downturn by temporarily sending people cheques to spend. Policies like these normally turn out to be wrong in timing, size and precision. So this turns out to be, as the worst part of the downturn is likely already passed. And the high oil price has already consumed almost all of the stimulus. There is a funny web page where people can tell how they spent the stimuls, see it here. Interestingly, it shows that many choose not to spend but to save - hence another weakness with such a policy.