the lost year

[David Morris]

In their paper, and their presentation, the authors listed several
steps governments and government-aligned institutions could take to
hasten recovery. But in the U.S., the most important step would
require more, not less, government spending — and that’s just not in
the cards given the current state of American politics.

“We need to do something about the demand side or we’re going to be
facing a Japanese-style, continuous stagnation,” said Alpert, managing
partner of investment firm Westwood Capital, in his opening remarks.


On Fri, Dec 9, 2011 at 8:24 AM, David Morris <fqmorris at gmail.com> wrote:
> http://tpmdc.talkingpointsmemo.com/2011/12/economic-experts-gather-in-dc-to-explain-why-politics-has-doomed-us.php?ref=fpblg
>
> Economic Experts Gather In DC To Explain Why Politics Has Doomed Us
>
> As the U.S. government and governments in Europe respond to the global
> economic slump with conservative austerity measures, it’s easy to
> forget that the overwhelming professional economic consensus is that
> depressed countries that can afford to should be doing the opposite —
> ramping up government purchases of goods and services and putting off
> the budget cuts and tax increases for a few years.