Apparently, the Greek government has called in the big hitters to help them with their fiscal dilemma.
A pause is all very well, but if the monetary crutch that has supported recovery is kicked out too soon, that double dip scenario could become a reality.
The Federal Government cannot endlessly pour money into the economy to create new jobs. Sooner or later it must let the private sector take over.
Why would you ever want to be President? Everyone who comes to the job does so with some vision and dream and quickly has to learn how to dance the dance if anything is to be done. It's harder now than ever with the accumulated debt we have built up.
Pakistan expects inflation next fiscal year to be reduced to single digits, bringing stability to the rupee, Minister for Finance & Economic Affairs, Shaukat Tarin, told CNBC on Friday.
Even if this administration wanted to be serious about fiscal austerity, we would have a massive deficit. As it is, it looks like fiscal 2010's red ink will total over $1.5 trillion. I remember the late Senator from Illinois (of all places), Everett Dirksen, who once said "A billion here, a billion there, pretty soon you're talking about real money." He would freak at the thought of a trillion here or there.
I was a bit surprised to read an excerpt from former Treasury Secretary Henry Paulson's new book, that depicted Lockhart as "nervous" in those crucial few days leading up to the takeover of Fannie and Freddie and very reluctant to put the two into conservatorship. Paulson called the FHFA a "weak regulator," and seemed to imply the same of Lockhart.