Keynesian Stimulus Theory is dead

Multipliers are going to come in at 0.5 or less from now on, for the simple reason that stimulus spending has about half the energy efficiency than the private sector for the USA in today's depression.

It was a nice try for many economists looking for the proverbial Multiplier Illusion. Stimulus theory isn't dead, but the theory has another data point:

Governments in developed economies are very inaccurate in its efforts to stimulate markets.

This is Kling's conclusion from more than a year ago. So the theory as it is currently practiced, similar Starve the Beast, is basically nonsense.