When PHL was in trouble, the prescription was less money supply to rein in money supply. More taxes, less spending, less budget by public to pay off foreign debt. It was a bitter medicine. Hence there were lots of demonstration, lots of anti imperialist slogans, stone throwing, anti US hatred and anti IMF tirades.
For USA though, it a lot of stimulus package, quantitative easing. Is it working?
For the PHL the tight and disciplined fiscal policy worked. Why can IMF, US Fed Bank impose the same for USA?
Or a different strategy and rules apply for the LDC and developed countries?
From: Moneynews.com <newsmax@reply.newsmax.com>
Date: Tue, Jan 15, 2013 at 5:09 AM
Subject: Fed President: More QE Probably Needed Into Second Half of 2013
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Jorge U. Saguinsin
To "be the best, do your best, expect the best" always
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