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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.

Mosler to Obama- be careful what you wish for!

Posted by WARREN MOSLER on March 24th, 2009


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The last thing we need to do is encourage policies that empower billions of foreign consumers to compete with us for scarce real resources and diminish our real terms of trade.

But that’s what happens with an administration that does not understand the monetary system.

Obama seeks ‘Sustained’ Fiscal Stimulus in G-20 Summit Appeal

by Tony Czuczka

Mar 24 (Bloomberg) — President Barack Obama urged fellow Group of 20 leaders to provide a “robust and sustained” fiscal stimulus, saying that “much more” action is needed to fight the global recession.

In an article published today in newspapers including Germany’s Die Welt and the Paris-based International Herald Tribune, Obama also urged increased funding for international lenders and a “common framework” of steps to restore the world economy’s flow of credit.

“Our efforts must begin with swift action to stimulate growth,” Obama said in the article laying out U.S. goals for the G-20 summit in London on April 2. “Other members of the G- 20 have pursued fiscal stimulus as well, and these efforts should be robust and sustained until demand is restored.”


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3 Responses to “Mosler to Obama- be careful what you wish for!”

  1. futureshock Says:

    Warren, I think you make the mistake of continuing to believe Obama is about enriching 5% of the worlds population (USA) at the cost of the other 95% – his mother worked hand in hand with the founders of YES magazine in indonesia – he is your enemy. You continue to make yourself look foolish by painting him as an ignoramus instead of someone who DOES understand but doesn’t have the same goals you want him to have.

    Reply

  2. warren mosler Says:

    you are entitled to your opinion

    Reply

  3. hooverprintingpresses Says:

    Financial Protectionism – George Soros

    Among other measures, both Europe and the US in effect guaranteed that no other important financial institution would be allowed to fail. This necessary step had unintended adverse consequences: many other countries, from eastern Europe to Latin America, Africa and south‐east Asia, could not offer similar guarantees. As a result, capital fled from the periphery to the centre. The flight was betted by national financial authorities at the centre who encouraged banks to repatriate their capital. In the periphery countries, currencies fell, interest rates rose and credit default swap rates soared. When history is written, it will be recorded that – in contrast to the Great Depression – protectionism first prevailed in finance rather than trade.”

    Reply

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