I second Patricia Smith’s comment about your blog.
There are similiar quotes here in the US about “burdening our grandchildren with debts”, usually spoken by those who want to extend all the Bush tax cuts.
It will be interesting to see what the Republicans come up with to block the extension of unemployment benefits due to expire at the end of November. They opposed extending UI because it would add to the deficit, but now they’re all in favor of extending the Bush tax cuts which will add $1.7 trillion to deficit over the next ten years.
Should be entertaining, anyway.
George Osborne is intent on spending reductions,whilst Charlie is telling us interest rates are being kept low in order to encourage us to spend, as opposed to save,in order to stimulate the economy
I am so pleased you now have a blog. I do so enjoy reading your articles.
I can’t find the exact quote but our Reserve Bank Governor Alan Bollard said the other day, in response to a question about whether all the money that is being poured into Christchurch after our terrible earthquake would have a beneficial effect on the Christchurch economy, “if the economic growth turns out to be meaningful there would be a rational case for blowing up a city every few years”. He was quoting the Business Round Tables’ Roger Kerr. As we all know War keeps an economy going (see USA). So logic tells me, that not withstanding the horror of the earthquake and it is horrible, all that money will help - certainly long time for people are staying home at the moment and not buying. Or am I wrong and he is right?