There is a fallacy that government spending, on infrastructure or anything else, creates jobs or economic growth in the aggregate. Murray Rothbard addressed the issue in great detail in his article “The Fallacy of the ‘Public Sector.” In summary, there is no such thing as the Infrastructure Fairy that takes government spending and magically turns it into economic growth.
A witty and accurate observation. Belief in Tinkerbell definitely underlies the “strategy” of all our clever, refined, educated “experts.” As is evident from another quote from Mr. Roberts’s entertaining and wistful piece:
Thus, one way or another, and just as is the case with our financially burdened Ivy League MFAs, the entire country has borrowed what amounts to several years of its revenue producing capacity — some of which, presumably, must also be allotted to our care, shelter and feeding.
What could possibly go wrong?
Well, we’ll try waving that wand like Chauncey hit the buttons on his television remote in “Being There.” Some more QE will probably be in order. Like that.
We’re long overdue for an epiphany on matters such as our repulsive federal government; our cowardly, usurpatious Supreme Court; the transformation of the Constitution into sort of a guideline (hat tip Bill Murray); reckless foreign military adventures; welfare state madness; universal franchise madness; tech giant proxies for violations of the First Amendment; monopoly control of the economy; the political domination of the media, billionaires, banks, and foundations; and our sick adulation of and groveling before minorities, foreigners, Muslims, deviants, the mentally disturbed, and revolutionaries.
But . . . for now, I’ll settle for a good old economic meat grinder of a collapse to get people back on the same sheet of music. A back to basics exercise thing. And that sheet of music sure as hell won’t be have a Chinese version, a Spanish version, or a Hmong version. Ok, maybe a Tagalog version. Filipinos are just great people.
 “Infrastructure Spending Could Be Good… But It Won’t Be.” By Lance Roberts, ZeroHedge, 7/12/21 (emphasis removed).