It will be interesting to see what the next name of the next fiscal stimulus will be because they have tried to change the name so many times thus far that they may have run out. There was a TARP that was strictly for the banks. There was a STIMULUS that was supposed to promote job creation, but it went to the corporations and banks. There was quantitative easing, and that was to flip bonds, and monetize the debt. Yet there is still a liquidity problem due to the massive deflation in the system, and the inflation needs to more than equal it if growth is to be conceived. There needs to be another program.
There needs to be another program but it is obvious these fascist programs do not stimulate growth. That is why this time Obama and Co, will need to have a program that does hire people directly. This program will also have to allow the Fed to print money above the already ridiculous curve. This is why Obama will hire people to do random things like pave roads even though oil production has peaked. We will create meaningless jobs just so people stop rioting in McDonald's parking lots. It will most likely not work, but Obama will try. He, and they, will try because they must. There is no growth but it needs to be perceived as if there is, otherwise the game is over, and the curtain will drop on the Neo-Keynsian Empire of easy credit and debt.