Bloomberg Cheerleads for Spending
futureofcapitalism.com

Bloomberg News has an article cheerleading for more government spending. It begins, "The bond market is giving President Barack Obama the green light to spend more money to boost the faltering economy." It goes on, "Obama has the bond market on his side as he heads into midterm congressional elections":

With inflation so low, "fiscal-policy restraint is not a virtue, but a deflationary vice," Paul McCulley, a managing director at Pacific Investment Management Co., which runs the world's biggest bond fund, wrote in a report posted on the Newport Beach, California-based firm's website on Aug. 13.

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Bloomberg Cheerleads for Spending
futureofcapitalism.com

Bloomberg News has an article cheerleading for more government spending. It begins, "The bond market is giving President Barack Obama the green light to spend more money to boost the faltering economy." It goes on, "Obama has the bond market on his side as he heads into midterm congressional elections":

With inflation so low, "fiscal-policy restraint is not a virtue, but a deflationary vice," Paul McCulley, a managing director at Pacific Investment Management Co., which runs the world's biggest bond fund, wrote in a report posted on the Newport Beach, California-based firm's website on Aug. 13.

Read More...