{"id":714,"date":"2009-03-08T13:21:24","date_gmt":"2009-03-08T18:21:24","guid":{"rendered":"http:\/\/www.joewhite.com\/?p=714"},"modified":"2009-03-08T13:22:10","modified_gmt":"2009-03-08T18:22:10","slug":"inappropriate-stimulation-2","status":"publish","type":"post","link":"https:\/\/www.joewhite.com\/ramble\/2009\/03\/inappropriate-stimulation-2\/","title":{"rendered":"Inappropriate Stimulation"},"content":{"rendered":"<p><a href=\"http:\/\/thinkmarkets.wordpress.com\/2009\/03\/08\/inappropriate-stimulation\/\">Inappropriate Stimulation<\/a>, by Mario Rizzo at ThinkMarkets:<\/p>\n<blockquote><p>What is happening is a massive re-allocation of resources mainly due to the excessively low interest rate policy of the past few years \u2013 but also partly due to certain sectoral shifts. The American car manufacturers, for example, are suffering both from the contraction in credit and from their own long-term inefficiencies.<\/p>\n<p>The fiscal stimulus program is designed to stimulate where economic activity has deteriorated and there are job losses. Many of these areas are those that had over-expanded. As we have been saying for some time on the blog, the effect of this kind of stimulation is to slow down the re-allocation of resources. It will not succeed, however, in preventing it. What it will do is prolong the recession.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Inappropriate Stimulation, by Mario Rizzo at ThinkMarkets: What is happening is a massive re-allocation of resources mainly due to the excessively low interest rate policy<\/p>\n","protected":false},"author":647,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[],"class_list":["post-714","post","type-post","status-publish","format-standard","hentry","category-random-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pekNN-bw","_links":{"self":[{"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/posts\/714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/users\/647"}],"replies":[{"embeddable":true,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/comments?post=714"}],"version-history":[{"count":0,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/posts\/714\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/media?parent=714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/categories?post=714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.joewhite.com\/ramble\/wp-json\/wp\/v2\/tags?post=714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}