Our Socialist In Chief is out today claiming his stimulus package from last year worked. That's laughable. The stimulus hasn't done anything. Remember he said we needed the stimulus package because without it we may run up to 9% unemployment, and that would be disastrous. Well, he got his stimulus package and with all that it has done unemployment was up over 10% last month and is still well over 9%. That said, they've only spent about a third of the money. So the stimulus has not worked at all, but it really hasn't been used yet. With elections coming in the fall, get ready for that money to be spent. Don't get me wrong, it still won't produce any long term results except increased debt. Any time you give the government money you can be certain that it will be ravaged by corruption and waste. That happens 100% of the time. Additionally, the things they spend the money on are temporary and do not help businesses permanently. Giving businesses more freedom and reducing the amount of money you take from them in taxes produces stronger business and more hiring etc. etc. etc.....

But an influx of money this large will have a short term effect. We're already starting to hear some talk of big projects in construction and engineering and there will almost certainly be more of that in the months to come. Business conditions, in general, still stink. We are in the post bubble world now and the economy has big problems facing it. However, the shock of the bubble burst is pretty much over so things are better than they have been for a couple of years. Given that we are beyond the initial shock of the bubble bursting and all that money is there to be spent, it seems likely that we'll get a stimulus rally here and business conditions will improve in the short term.

Todd Kmiec

Todd Kmiec & Associates

todd@toddkmiec.com

Views: 101

Comment by Ken Forrester on February 18, 2010 at 9:24am
Todd,
Respectfully, you sound a little grumpy!

Loosen up a little and try not to worry about things that you do not control such as politics and Government.
Any money spent now if it came from me, you or the Govt. or anyone is a stimulus especially in this economy; it can be viewed as income to some or job security to others, or a lifeline to some. And there are others who will see it as waste and more debt accumulation.

It’s the old half full-half empty perception; if more of us choose the half full scenario, it can translate into improved consumer confidence, which means more private spending, economical growth, increased demand for labor, more open positions to fill, more work for independent recruiters and more placements.

But I could be wrong; it all depends on the perception of most.
Comment by Todd Kmiec on February 18, 2010 at 9:36am
Ken, sorry I gave you the wrong impression. I'm not grumpy at all. Business is good and I'm just paying attention to the things that affect our business. I'll take a short term boost in business conditions, but I'm not going to sit back and be naive to the fact that, with all the corruption and waste that is involved with anything the government gets involved in, this is not good long term. I'll be in business long past any short term stimulus boost so I have to handle the business appropriately.

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