No, I Don't Know Why Kevin Hassett Bothers. No, I Don't Know Why Bloomberg Prints Him

Kevin "Dow 36000" Hassett's

The biggest Keynesian stimulus in U.S. history was a bust.... [...:] A 2002 study by economists Richard Hemming, Selma Mahfouz and Axel Schimmelpfennig of recessions in 27 developed economies from 1971 to 1998 found that increased spending by government had, in almost all cases, a barely noticeable impact, and sometimes a negative one. Heavily indebted countries that spent more in recessions grew about 0.5 percent less, relative to trend, than countries that...