I looked through my outer Mises Blog and found this:
Spare the money now, spend it later
The Failout plan can not expected to work with an acceptable certainty. In fact I’d bet 1:10 it’ll fail.
But if you throw out the money now , you have nothing else if this failout plan fails. It’s high time to prepare for a recession phase. The prices for home equity will fall, maybe crumble. At least down a third IMHO. That will distroy a few Trillions of value, this fall can not be held with 700 Billions.
So keep the money, now and see how to spend it one something which will work with higher probability. Building of houses will dry out, however the US infrastructure needs some overhaul.
You have to face the fact that Oil is sparse, and you have to face the fact that Water is sparse also in many regions. In the forseeable future California and especially Las Vegas will suffer under water shortage. You’ve to come back an invest in your own country in the producing industries. The cars are build sloppy, the houses often also, this sloppyness will cost you dearly.
You can not help, but the chinese have over a trillion US-$ to spend, you must be prepared that they will buy cheaply if not now than just a bit later. Use the money for an “american†solution. Tha means give the people the means to help themselves. That means “fair paid†jobs, “fair pricesâ€, you need as every developed country craftmanns which can build, repair and maintain the ideas engineers invent. So spend money wisely on education for your children and grown-ups also.
It’s not worth hanging to just one plan, (which in fact is none). Search for alternatives, discuss them and then make an educated choice. Currently you give yourself none but one choice and that’s exactly as useful as none plan at all. If in doubt, do nothing, that’s at least an alternative….