Harris feels the key is to shock to the system. "The U.S. economy literally would slide into something akin to a Depression if we don’t get something that’s kind of a shock to the economy, shock it back to life", Harris told CNBC's Asia Squawkbox.
Harris thinks that industries, especially the banking system, must be rehabilitated in order to get the economy up and running again.
"If you are not creating jobs then you continue to get the losses in the banks, if you don’t have the banks lending, then the economy can’t function. It’s a cycle and you need to get all of these pieces together."
"There are two stages here. Throw lots of liquidity and get the economy to function. When the economy starts functioning, suck all that liquidity out. That’s the right policy", Harris adds.
These are just two opposing voices in the cacophony of those who are for or against the stimulus debate taking place in the U.S. and around the world.
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The deluge of rescue packages and emergency spending from policymakers globally to support their deteriorating economies hasn't impressed investors though. If this week's stock performance is any indicator, it would seem markets worldwide have largely shrugged off these measures.