A Quote by Lucy Powell
Surely, the best and most effective measure is to get the economy moving and shorten the period of recession or slowdown. That's the rationale for Gordon Brown's 'fiscal stimulus' and it sounds like a good one to me.
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Surely, the best and most effective measure is to get the economy moving and shorten the period of recession or slowdown. That's the rationale for Gordon Brown's "fiscal stimulus" and it sounds like a good one to me.
Japan has introduced fiscal stimulus five times in the past seven or eight years and each time it's been a failure and that's not a surprise. Fiscal stimulus is not stimulating in and of itself.
What saved the economy, and the New Deal, was the enormous public works project known as World War II, which finally provided a fiscal stimulus adequate to the economy’s needs.
Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.
At the federal level, the fiscal stimulus of 2008 and 2009 supported economic output, but the effects of that stimulus faded; by 2011, federal fiscal policy actions became a drag on output growth when the recovery was still weak.
We have to remember we're in a global economy. The purpose of fiscal stimulus is not simply to sustain activity in our national economies, but to help the global economy as well, and that's why it's so critical that measures in those packages avoid anything that smacks of protectionism.
I always knew Gordon Lightfoot was a really great songwriter, but his stuff even sounds better and better all the time. It's just so really good to me. It's just like that's what should be in a dictionary, you know, next to a really good contempory folk song, is a Gordon Lightfoot song.
Aggregate aid is to the Ethiopian economy what Obama's fiscal stimulus was to the American economy: minus these injections, both economies would suffer catastrophically. The theatrical blustering of the Ethiopian government notwithstanding, donor countries have a make-or-break power over the Ethiopia's prosperity.
The median family income in the U.S. is lower than it was a quarter-century ago, and if people don't have income, they can't consume, and you can't have a strong economy. There's significant risk - actually it's no longer a risk - a significant likelihood of a marked slowdown not only in China, but also in a lot of other countries like Brazil, which is in recession. All of the other countries that depend on commodities, including Canada, are facing difficulties. So it's hard to see a story of a strong U.S. economy.
One of the things I think is very likely is that with the prospects of robust fiscal stimulus in response to voters mad as hell, the Fed is going to be in there with helicopter money. In other words, they're going to be buying whatever the Treasury issues. They're not going to, in effect, advocate strong fiscal stimulus and then not finance it. And that's helicopter money.
The scumbags are taking over the streets. I don't know what David Cameron and Gordon Brown are going to do about it. It all goes back to the Thatcher (Margaret Thatcher) years. It sounds like a cliché but that's when the rot set in.
The American people know what's necessary to get this economy moving again. It's fiscal discipline in Washington, D.C. and across-the-board tax relief for working families, small businesses and family farms.
When I was in government, the South African economy was growing at 4.5% - 5%. But then came the global financial crisis of 2008/2009, and so the global economy shrunk. That hit South Africa very hard, because then the export markets shrunk, and that includes China, which has become one of the main trade partners with South Africa. Also, the slowdown in the Chinese economy affected South Africa. The result was that during that whole period, South Africa lost something like a million jobs because of external factors.
At the center of every recession is a serious imbalance in the economy and mirrored in the financial system. Think subprime mortgage and the Great Recession, or the technology bubble and the early 2000s recession. There are no such imbalances today.
The choices politicians make must be based on values - not an arbitrary, axe-wielding approach to public spending or a dismal exchange between Gordon Brown and David Cameron about percentages that sounds like an argument between different book-keepers.
I think I lead with empathy and connection to our people. I find that the most effective leadership style for me is to just talk and listen. It sounds simple, but it's so effective.
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