Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
No, that's a general statement, not one specific to the current situation:

If you have a Treasury with a drawer full of shovel-ready, useful infrastructure projects, then the Treasury can shoot the private banking sector in the back of the head, dump the corpse in a shallow grave and nothing excessively bad will happen (except maybe a coup d'etat), irrespective of where you are in the business cycle.

Because with sufficiently activist fiscal policy, you get to abolish the business cycle.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Nov 3rd, 2011 at 12:17:05 PM EST
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