Can economic stimulus ever cure turbulence–are they doomed to failure by their very nature?
I’ve been thinking a lot about what recovery really means (and how to translate that into investment strategies). After initially welcoming the idea, I’m starting to think the recent obsession in Washington with stimulus is likely to be as effective in solving our economic problems as expecting calm waters to return to a lake with choppy waves by adding a few carefully placed sources of perturbation in a misguided effort to soak up the waves through harmonic cancellation.
