Sandy as Stimulus?

I’m of the opinion that four years of writing taxpayer-funded fucking welfare checks and spending trillions on unemployment benefits was the dumbest possible thing on earth when you consider the state of the nation’s crumbling infrastructure and the social benefits inherent in putting people to work rather than keeping them in a perpetual state of begging.

I don’t care what the extremist nutjobs on the right or the left think about government-led public works projects or the “guaranteed” social safety net, respectively. I know deep down that people do want to work in general and that America would be doing better had the administration been more forceful and creative and had the GOP opposition stopped being such dicks about everything.

For example, just imagine if Congress and the President had mobilized a natural gas vehicle infrastructure project including transmission, service stations, engine science, cleaner fracking research, etc. America is the Saudi Arabia of natural gas with something like a 100-year supply based on reported reserves. We could have had an explosion in jobs and private investment to go along with something like that. And that’s one example of many things that only the government can set into motion so that companies and entrepreneurs are jumpstarted into motion.

But the President was a pussy who blew his mandate on health care and the obstructionist GOP-ers in Congress are regressive rednecks kowtowing to the economic innumerates in their Tea Party constituencies.

And so here we are, with very little happening in the way of productive projects for the benefit of all Americans.

Which brings me to Hurricane Sandy…

I threw out all of the contents of two refrigerators and freezers yesterday as did two million other homeowners without power this week. We’ll be replacing all of it once the juice comes back on. We’ll also see a massive new market for home generators in this storm’s aftermath along with continued runs on Home Depot and Lowe’s as people seek to put their property back together.  And now we’re hearing estimates for public repairs that are astronomical ($20 billion just for NYC’s subways, for example). Much of this spending goes toward overtime for workers, parts and equipment from American manufacturers and all kinds of local construction involvement.

It ain’t ideal, but it’s still paid work and productive spending.

But is the Sandy clean-up really going to beneficial to the economy, net net? I’m not sure I have an answer. Here are some takes on the topic worth reading:

Sandy Stimulus? Don’t Bet On It (Fortune)

What Hurricane Sandy Means for Ben Bernanke (The Atlantic)

God’s Stimulus? It’ll Take More Than Just Money to Recover From Sandy (HuffPo)

Paul Krugman’s Stimulus Batters The East Coast, Fueling Economic Growth (Forbes)

Sandy points the way to shovel ready projects (USA Today)

Let’s Wait to Politicize Hurricane Sandy (Peter McKay)

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web
  1. gay sex doll commented on Sep 25

    … [Trackback]

    […] Info to that Topic: […]

  2. blazing trader review commented on Sep 28

    … [Trackback]

    […] Find More here on that Topic: […]

  3. buy Glocks online commented on Oct 14

    … [Trackback]

    […] Read More to that Topic: […]

  4. 토토사이트 commented on Oct 18

    … [Trackback]

    […] Read More to that Topic: […]

  5. robotic testing commented on Nov 12

    … [Trackback]

    […] Here you will find 97265 additional Info on that Topic: […]

  6. intelligent automation commented on Nov 27

    … [Trackback]

    […] Find More on on that Topic: […]

  7. cbd for anxiety commented on Jan 02

    … [Trackback]

    […] Find More Info here to that Topic: […]

  8. Digital Transformation commented on Jan 16

    … [Trackback]

    […] Info to that Topic: […]

  9. rolex podr��bka commented on Jan 17

    … [Trackback]

    […] Find More on that Topic: […]