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The Forum > Article Comments > Avoid spending like there's no tomorrow > Comments

Avoid spending like there's no tomorrow : Comments

By Tony Makin, published 2/4/2020

Questions arise about whether the fiscal response is too expansive, is the right form, and whether generous cash handouts should have been included.

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If the stimulus was funded from "true debt", a worry it would be, but it's not.
It is simply printed money which will return to the Government through a stimulated economy, which will in turn balance the books.

This then is all about the Government which sits at the top of the pecking order. That's the way it should be, and that is goody goody good good.

Dan
Posted by diver dan, Thursday, 2 April 2020 9:12:17 AM
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The first "puzzle" is correct. But who expects governments to be consistent. And are pensioners going to spend the 'stimulus'? I'm hanging on to mine. I would rather have stuff on the shelves that I need. I don't need more money.

The second puzzle won't be given much thought by people getting the money.

That's two "puzzles". Where are the rest of the "several"?

I believe that, apart from the people who have lost their jobs, no one should be getting handouts
Posted by ttbn, Thursday, 2 April 2020 9:16:37 AM
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Tony Makin,
>John Maynard Keynes most famously advocated fiscal stimulus in the form of increased spending
>on infrastructure (then called ‘public works’) during the Great Depression of the 1930s, a result of a
>stock market and banking system collapse. However, the academic jury is still out on how effective
it was. Some argue that the uncertainty it created for business actually prolonged the Depression,
at the same time as economies turned in on themselves and became highly protectionist.

Only those who are ideologically biased against government spending claim that. Everyone else recognises that the protectionism prolonged the depression but the government spending created opportunity rather than uncertainty.

> Yet it is worth remembering that there was no federal fiscal stimulus response to the 1997-98 Asian Crisis,
There was no need for one, as there had not been a collapse in domestic demand and the market had devalued the dollar so there which maintained demand for our exports.
Posted by Aidan, Thursday, 2 April 2020 9:39:45 AM
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I apologise for my misformatting of the above response. The first paragraph should entirely be a quote.
Posted by Aidan, Thursday, 2 April 2020 9:42:51 AM
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French Doctor reckons this treatment works.

https://techstartups.com/2020/03/27/coronavirus-cure-new-results-french-study-shows-combination-hydroxychloroquine-plaquenil-azithromycin-successfully-treated-80-coronavirus-patients-significant-dr/
Posted by individual, Friday, 3 April 2020 6:36:17 AM
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"But experience tells us there’s always a future cost when there’s a rush of red ink to policymakers’ heads." There is ample evideence to support that, yet it continues to go unheeded. And those future costs always delay the recovery, the intervention is never net positive over a number of years. But either politicians and their advisers don't learn, or they put a pereceived short-term political benefit ahead of the medium-to-longer term interests of the population.
Posted by Faustino, Monday, 6 April 2020 12:46:15 PM
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