photo by Joep R.
Quote for the day:
"It's a recession when your neighbor loses his job; it's a depression when you lose yours."
- Harry S Truman
In the news:
Merrill Lynch writes off $11.5 billion and reports a loss of $9.83 billion.
Bernanke endorses quick, temporary fiscal stimulus: "Fiscal action could be helpful in principle, as fiscal and monetary stimulus together may provide broader support for the economy than monetary policies alone...To be useful, a fiscal stimulus package should be implemented quickly and structured so that its effects on aggregate spending are felt as much as possible within the next 12 months or so...Any fiscal package should be efficient. Finally, any program should be explicitly temporary."
Quote for the day:
"It's a recession when your neighbor loses his job; it's a depression when you lose yours."
- Harry S Truman
In the news:
Merrill Lynch writes off $11.5 billion and reports a loss of $9.83 billion.
Bernanke endorses quick, temporary fiscal stimulus: "Fiscal action could be helpful in principle, as fiscal and monetary stimulus together may provide broader support for the economy than monetary policies alone...To be useful, a fiscal stimulus package should be implemented quickly and structured so that its effects on aggregate spending are felt as much as possible within the next 12 months or so...Any fiscal package should be efficient. Finally, any program should be explicitly temporary."
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