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0 pointsekianjo12y ago0 comments

put to work by who? Stimulus has not worked very well for the US after 2008, has it? And Spain does not have trillions of dollars to spend in stimulus anyway. Stop dreaming.

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anigbrowl12y ago

We haven't had that much fiscal stimulus in the US releative to the size of the economy. It's a missed opportunity considering money is basically free right now and T-bills return a fixed coupon (so even if interest rates were 5% in 5 years' time it would have no effect on the cost of servicing debt issued today).

The EU has trillions to spend. This is a federal problem, but some countries in Europe don't want to admit because they want to cling to the illusion that monetary union can exist indepedently of fiscal union.

ekianjoOP12y ago

> that much fiscal stimulus in the US releative to the size of the economy.

I knew this was coming. "The stimulus didnt work because it was not big enough". Always the same excuse coming from Keynesians. "Aspirin did not cure my Cancer because I didnt take enough". Sure, when you attack the wrong causes in the first place you get very poor results, unless you get lucky.

tptacek12y ago

This is a comment that literally says nothing.

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