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07/26/2010 05:38:38 AM · #151 |
Originally posted by DrAchoo:
If everything goes as planned, it will be interesting to compare the US and Britain in 10 years given they are apparently chosing to cut their budget by 20-25%. Even more interesting is that Cameron's approval rating went UP by 5 points after he declared these austerity measures. Can you even fathom that happening in the US? No way. We are soooo soft. |
I agree that it is going to be interesting to see what works best. There is a huge gamble in cutting public spending hard. Businesses have placed greater dependency on public spending in the last few years: cutting it too fast will be inconsistent with driving a gradual realignment back to private sector work. There is a careful balance required – I hope that each of our leaders finds it (potentially in different ways).
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07/30/2010 01:00:10 PM · #152 |
This is an interesting article that would back up both Judith AND me.
Are the helicopters about to take off?
The summary is that St. Louis' Fed Reserve Bank president James Bulloch is now worried more about deflation than inflation (which is a change from a few months ago) and supports a second round of quantitative easing. However, he admits that this may spur inflation in the future. Overall it's probably also a sign that we are not out of the woods. I think that makes sense because, as I've said, I feel that the government stimulus programs are able to delay pain, but not prevent it. |
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