13th October 2011
The New York Times takes aim at the Republicans for rejecting Obama's Jobs Bill. "The Republicans offer no actual economic plans, only tired slogans about cutting regulations and spending. But at least the record is increasingly clear who is advocating real ideas and who is selling an empty vessel."
"Despite a really brutal economic year, the American economic engine is still running. Alas, the most dispiriting thing about good news in the American economy: the sense that it's all about to be blown up by a European collapse of one sort or another." The Economist
"If the Chinese economy entered into a hard landing, China would have to make the currency fully convertible. And if they float their currency during the bad times, the outcome would probably be exactly opposite what the West has been hoping for. It will not go up, but go down." Naked Capitalism
Project-Syndicate on euro debt crisis: "The world has a large stake in the resolution of the eurozone's problems, but those problems might soon become too big for the eurozone's members to address. Fortunately, the world has an institution that can channel the help that Europe needs: the IMF."
Even though unemployment has hit a 17-year high, PM David Cameron still wants to keep interest rates low to boost the economy. However, Brad DeLong argues that: "Right now record-low interest rates are not a tool for improving the economy."
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