Physician-writer Rahul Parikh’s take on the economy is an entertaining one.
What if the economy was the patient, and how is it reacting to interventions meant to improve its prognosis?
“Shortly after the New Year, the doctors had a long discussion,” Dr. Parikh writes. “Some argued that that a Prescription for a broad-spectrum stimulus was called for. Others felt that a more careful approach, targeting Rx’s to certain parts of the Economy, was a more thoughtful approach. Still others, frustrated by the time and money needed to keep the patient alive, thought it was time to withdraw care and allow the patient to recover on its own.”
Whether the patient will fully recover remains to be seen.
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{ 2 comments }
The economy as ‘patient’ will recover in spite of the federal nostrums, as it always has. Leaving the ‘patient’ to recover alone results in a stronger ‘patient’, not to mention one with a somewhat smaller tax load. A better take would be how the feds caused the ‘patient’ to get sick in the first place.
Chuck Brooks
FutureWare SCG
Not sure. Hoover tried to let economy recover on its own and it didn’t work. I don’t think we want to wait for the third world war to take us out of this. None of the post war recessions had this massive deleveraging, nor were they deflationary. Deflationary cycles are very difficult to get out of.
As to government’s causing it,there are a lot of guilty parties, not just the government. It’s not exactly government that invented CDOs, CDOs squared or gave 900K mortgages to those who flipped burgers in McDonald. Yes government contributed, SEC had nice input too, rating agencies. But there are really a lot of guilty parties starting with the government, continuing to Wall Street, to banks, to loan officers to people who took on more credit they could afford.
Mind you I am not sure at all that the government takes the right steps. I’d imagine many of them are wrong. But I don’t believe that doing nothing is a solution either. Last September was pretty scary. Plus I wish congress stopped their class warfare. I liked the referenced post, but I thought it could be made funnier by incorporating congress grand-standing.
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