Over the last few weeks the up swell for robust stimulus has grown to include both prominent conservatives, progressives and anecdotally a large majority of Americans. However, as typical the crew at CNBC still seems to be pandering to a non-existent or at least severely de-idealogued ultra conservative business community, continuously invoking the failed Japan stimulus as reasons against trying it here.Since I don't know enough about 90's style Japan economics to comment on whether the stimulus worked I won't. However, I will point out that it is entirely plausible that if it didn't work, the reason could be poor execution instead of a bad plan.
Since the parallels between business and athletics are endless I will demonstrate with a sports metaphor:
In order for Small State University to beat North Carolina in the championship b-ball game the coaches decide to use a 2-3 zone. If Small State loses by continuously flubbing assignments, failing to box out and not challenge jump shooters, should we just grossly conclude that North Carolina can't be beat using a 2-3 zone. Or should we review the film and determine if, Small State had boxed out, not flubbed assignments and challenged shooters, they could have won with the 2-3.
I get the feeling that those, like Kudlow and Chuck Gasparino, are well aware of the fact that the stimulus in Japan could have been too small, allocated inappropriately or flubbed in some other way. But why contend that when you can always default to your trusty contention of upper class and business tax cuts?
