Written by Pacific Investment Management Company (PIMCO), the world’s largest manager of bonds, hasjust released research analysis titled: “Saying No to Keynes and Fiscal Folly”. The report is a dramatic departure for PIMCO; who had fully embraced the Keynesian “pump priming” economics of stimulus spending, bailouts, and corporate interventions. But with the American public now opposed to [...]
READ MORE »Posts tagged spending
IMF Says US Budget Requires 33% Spending Cut & 35% Tax Increase
President Obama told the American people we have to “Eat our Peas” as encouragement for the nation to make the painful decisions to address our out-of-control federal deficits. To understand how many peas we would have to eat; a recent IMF report: “Who Will Pay and How?” determined that under a moderate growth “baseline scenario, [...]
READ MORE »