The economy is bad, in some ways as bad as it's ever been in the U.S., the Great Depression included. No, we haven't seen 25% unemployment rates, or men and women taking to the rails in search of a job or - hell - even a meal, but it's the fall from where we were to where we are that's painful. The bill we ran up with years of overconsumption, overindulgence and a naive belief in the infallibility of the free market has come due. The criminal squandering of the nation's wealth by the damndest fool ever to occupy the Oval Office hasn't helped either.
As a nation, we behaved counter-intuitively during the run up to the disaster. When times were good we spent, spent and spent, no thought for a rainy day. At least we're consistent, because our behavior continues to run counter to the best survival strategy. Many of us have come late to the idea of saving, perhaps fatally late, because spending, not saving, is the only way out of this mess.
Yet, consider the neat trap we've contrived for ourselves. Who dares spend with no assurance that his job will be there tomorrow? We have to save, just in case. But we must spend to climb out of the hole. Still, we can't spend with so much uncertainty. However, we have to spend because .... ad infinitum.
What ho! The President, the Congress and the Senate approach - bearing good tidings! "You need not spend your pitiful trifles, good consumer," they say, "because we shall spend for you!"
And you reply: "Thank you, kind lords. Methought we should never find our way out of this economic thicket!"
And we all lived happily ever after, until ... until someone uttered blasphemy!
"Great legislative and executive lords," spoke the impudent varlet, "whence cometh the dough? Is not 'your' money our money?"
General consternation and harrumphing all around.
"Ye need not worry, child," one of the lords finally says. "We have friends in China, Saudi Arabia and other exotic locales who shall happily make up for what you cannot provide. The rest we'll just print, dumbass."
"But, but, isn't borrowing beyond our means to repay sort of what got us into this mess?" the impudent varlet persists.
"You let us worry about that, son," said the Highest of the High Lords. "After all, your money is our money, right?"
Puzzled but silenced, the inquisitive knave slips away to invest the last of his savings in a Chinese baby food manufacturer.
So, when you think stimulus, think China, think Saudi Arabia, think of anything except how you and your children and their children and their children will owe a great debt of gratitude - and an even greater debt of gold - to our good friends.
Don't be afraid. It's called stimulus, and the government will soon soothe all your pains.
Dumbass.