Why space, why now? My best guess is that it’s one more way to inject liquidity into the economy and subsidize American manufacturers. I’m all for private space ventures, but this will be yet another massive boondoggle. M3 has been dropping despite the continuing increase in debt issuance, which is a very ominous sign, so it looks as if they’re pulling out all the stops in order to get the money supply moving again. It looks like we’re not far from following John Maynard Keynes suggestion to bury bags of money all over the place so people could keep themselves busy digging it up, thus boosting the economy.
That’s right, he suggested that. And you wonder why an economy based on his theories is in trouble?