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ritholtz.com/blog
the Big Picture
By Peter Boockvar - March 31st, 2009, 9:30AM
Groundhog Day
Like out of a scene from ‘Groundhog Day,’ Japan announced that they will unveil another stimulus plan, their 3rd in this down cycle and I don’t have enough fingers or toes to count how many stimulus plans the 2nd biggest economy in the world has had since 1990. My point is that there is no precedent whatsoever of a country’s government printing money and spending its way to prosperity, especially in the face of a massive deleveraging.