Monday, Sep 13, 2010
No more mo-viagra-ney
Yahoo / reuters: IMF urges stimulus to help "dire" job market
The leader of the International Labour Organisation called on governments to extend measures to foster a still "fragile" global economic recovery and job creation.
But Iain Duncan Smith, Britain's Secretary of State for Work and Pensions, disagreed, telling Reuters: "We're at the stage where everyone is throwing out a lot of stimulus, but to lesser and lesser effect."
"We think it's time to start pulling that back," he said. "If it goes on, we will start to squeeze out the private economy so it won't have room to grow."
Posted by mark @ 01:29 PM (1143 views) Add Comment
171 Comments
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1. icarus said...
Duncan-Smith is still living in the early '80s, when it made sense to talk of government spending and borrowing crowding out the private sector. It makes no sense now.
2. Crunchy said...
The IMF is so generous.
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