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RE: Re: Re: RE: Keynes on "sinking funds"

The first pillar of fiscal rectitude to
crumble will be any resistance to the cyclical
argument.  Even PK acknowledges it.  The real
key is the position on the longer-term.

mbs



Jim Devine wrote:

>Is it really true that most macroeconomists in Washington are now
>rejecting the fiscal austerity of PK and the DLC? ("PK & the DLC"
>sounds like a rock group.)

Dunno about Washington, but Wall Street is. Goldman Sachs is talking
about the need to forget the surplus for now and stimulate.

Doug
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