LET'S NOT FORGET THE NEED FOR SOME PRO-GROWTH AS WELL AS LESS GOVERNMENT: Up & Down Wall Street - Barrons.com
The sadly trenchant issue with 'austerity' is it may mean some cutbacks in government excesses (although hard to see in Greece or Portugal; and, of course, ignored in the US); but, there is a flip-side to all of this - i.e. growth.
The 30's taught many different lessons - depending on the student and teacher.
The lesson that seems to have been clearly 'disproven' is that tight or loose monetary policy can support or hold back economic growth when the fiscal policies (tax, regulatory, etc.) are against the economy.
Southern Europe isn't changing their anti-business policies (exception was the Greek conservative leader who was almost universally booed by his European brethren)and clearly the Democrats don't realize there policies are anything but pro-business or business-neutral.
The lack of pro-business policies needs to be factored in - BIG TIME!
Sunday, July 24, 2011
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