If competitive devaluation fails, there is always Smoot-Hawley. After all, the fundamentals are sound.
On Wed, Feb 11, 2015 at 11:18 AM, Charlie <[email protected]> wrote: > Thanks, Gene. The idea seems to be that a coordinated global monetary > gusher would avoid trade wars. However, the reporter senses a problem: > > "Yet the backing of aggressive central-bank stimulus has a more troubling > side: Governments appear to lack the resources, or the will, to lift their > economies’ prospects through fiscal policies and economic reforms, putting > all the more pressure on central bankers." > > What a pair: fiscal stimulus plus reduced social benefits and more sweated > hours. > > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > > -- Cheers, Tom Walker (Sandwichman)
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