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I see that the PM has been talking about financial economic variables again – this time it is the exchange rate. Now he says it isn’t a big deal as he didn’t say too much – which is true. But nonetheless, he is PM, he isn’t supposed to say anything about the direction of monetary […]
I am surprised to see Bill English slam his former department – of course it is entirely likely that the newspaper is simply exaggerating his reaction to their briefing. The core of Bill English’s criticism of Treasury appears to be that “they aren’t thinking of ways that fiscal policy could prevent the recession”. But maybe […]
So, the Reserve Bank has just announced that it has cut by … I don’t know, its 7.30am for me so the Bank is yet to announce it. We have discussed this wildly though (here, here, and here) – so it will be good to see what has happened. Feel free to do your own […]
The Reserve Bank of Australia cut 100 basis points last night taking the cash rate to 4.25% – well into easing territory. A feeling that global commodity prices were in for a sustained lower period was a driving force behind this stimulus. Surprisingly the Reserve Bank of Australia did not mention to enormous decline in […]
Over at Robert Reich’s blog, there is a discussion stating that now is the time for rising government spending in the US based on the “fact” that the government is the “spender of last resort” and that the economy has plenty of spare “capacity” (ht Mark Thoma at Economists View). We have discussed fiscal policy […]
It appears that the UK wants to spend their way out of a recession. The US has a plan too, as does New Zealand, Europe, and Australia. Governments all across the world want to spend their way out of a recession – however, there is only three ways they can get the money together. Increase […]