The Nightmare Cometh

I never thought I would live to see the day.

From a triumphant Newsweek:

There it was, just before the commercial: the S word, a favorite among conservatives since John McCain began using it during the presidential campaign. (Remember Joe the Plumber? Sadly, so do we.) But it seems strangely beside the point. The U.S. government has already—under a conservative Republican administration—effectively nationalized the banking and mortgage industries. That seems a stronger sign of socialism than $50 million for art. Whether we want to admit it or not—and many, especially Congressman Pence and Hannity, do not—the America of 2009 is moving toward a modern European state…

Indeed, a European state that is, and has been, struggling for quite some time.

The sooner we understand where we truly stand, the sooner we can think more clearly about how to use government in today’s world…

Well said, Comrade.

It's interesting to note that Japan, which possesses the number two economy in the world, has been trying to "stimulate" its economy out of a recession since early 1990's with less than stellar results.

American Stimulus, Japanese Stimulus

Dr. Ihori of the University of Tokyo did a survey of public works in the 1990s, concluding that the spending created almost no additional economic growth. Instead of spreading beneficial ripple effects across the economy, he found that the spending actually led to declines in business investment by driving out private investors.

Critics also said decisions on how to spend the money were made behind closed doors by bureaucrats, politicians and the construction industry, and often reflected political considerations more than economic.

Sound familiar to anyone?

He agreed with other critics that the 1990s stimulus failed because too much of it went to roads and bridges, overbuilding this already heavily developed nation.

That's just downright, eerie, isn't it? Sadly, several "stimulus" packages failed to pull Japan out of its financial woes.

God help us.