Feldtein: “Economy is terrible”; Feldstein says he expects a “slow recovery”; Tax cuts should be major part of stimulus plan; U.S. defense spending exceeded $600 billion in 2008; Defense spending could be quicker than infrastructure;
January 08, 2009
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
read more »
January 8th, 2009 at 6:37 pm
Barry,
I’m surprised you put this video up!
This guy is a dinosaur. He’s an obvious puppet for the military industrial complex. I mean really, “increased defense spending?!?!?” Give me a break!!!! The bomb and gun makers are one of the reasons why we are in this pickle in the first place.
This makes sense though, the Middle East is chaotic, the US economy is in shambles and now all these dinosaurs are coming out screaming “MORE WEAPONS, MORE KILLING!”
When will we Americans learn that the military industrial complex is the root of all the world’s problems?
What a sick culture we have….
January 8th, 2009 at 6:54 pm
bingo ronin….this is worse than McCain saying bomb bomb bomb Iran.
Bogus and bullshit Defense budget needs to be cut to $400B for starters !
January 8th, 2009 at 10:08 pm
Martin Feldstein is not just “a dinosaur. He’s an obvious puppet” but also a soviet style big government enthusiast and I think quite unbalanced. In an article in the Financial Times:
http://www.ft.com/cms/s/0/29e69ebc-736f-11dd-8a66-0000779fd18c.html
he argued that one of the core government functions was to make sure that house prices always stayed above trend. I am not joking: a lake Woebegone “economist”.
A guy who argues that the government should keep prices of something that has been wildly overproduced and overstocked with respect to demand should not go down thanks to government spending…