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Republican Fear of Debt Is Myopic, Years Late: John M. Berry
bloomberg.com - 1/8/2009
Republican Fear of Debt Is Myopic, Years Late: John M. Berry
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Commentary by John M. Berry Jan. 8 (Bloomberg) -- The U.S. economy is in the throes of a deepening recession and needs a really big dose of fiscal stimulus to help stabilize it. What it doesn’t need is efforts by congressional Republicans to limit the size of the package because of feigned ...

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Paul Kedrosky's Infectious Greed:  Readings 01/08/09

Economist's View:  Starving the Unemployed

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Readings 01/08/09
Paul Kedrosky's Infectious Greed — Fed economists knock selves out trying to figure out why people don't want to own stocks (FRB) Mohammed El-Erian: Investors should hide under government wing (FT) China Is Losing Its Taste for U.S. Debt (NYT) China hasn’t (yet) lost its appetite for US Treasuries … (Setser) German bond auction fails to attract enough demand (Bloomberg) Monsanto's Profit Shoots Higher (WSJ) How is money created? (Bogleheads) CBO releases latest U.S. Budget and Economic Outlook (CBO) Largest one-month drop in c/card payments on ...

Starving the Unemployed
Economist's View — During the Bush administration, the federal debt " nearly doubled," going from $5.7 trillion to $10.6 trillion. This was no accident, but rather part of the Republican's "starve the beast" strategy for shrinking government. While this was going on, many of us warned that if big trouble hit, and if we had high deficits at the time, it would limit our ability to respond in the most effective manner. E.g., from January 2006: We are in a better position with respect to monetary policy now, but for awhile we had very low interest rates coupled with very high budget deficits. In such a case, when you've already thrown ...

links for 2009-01-09
Economist's View — Not Doing Enough - John Judis Geithner Preparing Overhaul Of Bailout - washingtonpost.com Monetary Policy and the Crime Rate - Macro and Other Market Musings Empirical evidence on the monetary policy trilemma since 1970 - voxeu.org Nationwide Inquiry on Bids for Municipal Bonds - NYTimes.com To Monetize or Not To Monetize: Who Cares? - Andy Harless Republican Fear of Debt Is Myopic, Years Late - John M. Berry Number of Homeless Families Climbing Due To Recession - CBPP Keep your enemies close - Free exchange ...

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