That's what dad says.
It is better for the Western World to deal with their problems right now, and head on, than it is to continue down the path. As previously mentioned, "though the skeeball score of the S&P reads like a stuffed teddy bear payday" the reality is that a grand illusion has been conceived by the Central Banks in collusion with Global Banking leadership to fight a war on confidence in a manner which further erodes confidence. The presupposition with all of these policies is that the general populace will be cowed into support with the threat of their wealth. The truth is that their wealth is already gone and that the internet has made it easier than ever to unveil the precarious fiscal policies enacted by these leaders. In short, the majority are better equipped to question the idiotic behaviors of their leadership, and they're smart enough to know what playing with fire looks like.
Without a robust economic backdrop, even if one were to buy a year or three at the cost of their present purchasing power, one dodges a near obstacle whilst launching headlong into the next.
In my view, any bailout plan through front or back door should include a front facing infrastructure package. In truth, the public sector is an important one, economically speaking, as an offset against the constant cost cutting of capitalism. Whereas capitalism seeks to improve efficiency and lower costs, public spending is decidedly ham-fisted, fulfilling the unwritten social contracts of policy makers to their puppet masters. In recent history public sector growth has been in jobs which provide little to no economic return leading to a backlash against the size and cost of government. [Insert your favorite anecdote about waiting at the DMV here.] It is good that these officials are earning an honest living, it would be better if the world were a better place for paying them.
This is the root cause for a neo-WPA. We musn't forestall any longer the idea that direct economic impact can be achieved in ways other than financial. What we must do is halt these notional practices which offer no greater return, and increase overall reliance on confidence, which points to structural risk. The belief that a number next to the S&P somehow offers a structural assessment of our economy is lame and overly simplistic. This goes both ways.
see also Why you buy a road. The cause for a neo-WPA