Word: stimulus
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...think the fatal flaw of a lot of people in politics is that they want to be loved.' MARK SANFORD, South Carolina governor, who has balked at accepting $700 million in federal stimulus money for his state...
...encourage private investors to buy banks' toxic mortgage assets is a "reasonably good idea" that he thought would work. (Zandi says he would have preferred that the government buy the toxic debt so taxpayers could realize all the upside once the economy recovers.) He believes in aggressive government stimulus as a way to address economic crises, and he likes the package passed by the Obama Administration, although he would have included a payroll-tax holiday and an expansion of the housing tax credit...
...stock market bottomed out in the first three months of 2009, he believes. (He'd originally expected this to happen last November; instead it was in March.) Home prices should reach their lowest point by the end of the year. ("I feel very confident about this.") The fiscal-stimulus program should start to work by this summer. Unemployment will peak in the second quarter of 2010. And economic expansion should begin again in the fall of 2010. "My point is, things can turn pretty quickly," Zandi said, chuckling. "How's that for a happy ending?" After the presentation...
...practical matter, though, it was not so clear that the more collaborative strategy that Obama was peddling would pay immediate dividends. In London, European leaders balked at any specific commitment to future economic stimulus on par with American plans. In Strasbourg, NATO countries offered rhetorical support for Obama's new Afghan strategy but few combat troops to support the effort. The North Korean missile launch yielded no immediate condemnation from the U.N. Security Council, another illustration of the limits of consensus. (See more pictures of Obama in Europe...
...unrest and allow the government to work at solving the economic crisis. With the Thai economy set for a potential contraction of up to 4% this year, the Asian Development Bank said earlier this week that political infighting could hamper the effectiveness of the government's $44 billion economic stimulus program. The fate of that program, and the government itself, may rest on events surrounding the protests. And once again, most Thais can do little but watch, and wait...