The American economy is the engine of the world, so they say. So the world is watching it closely.
El Pais, a Spanish daily, seems to assert that good Keynesian American economics (a la “the deficit doesn’t matter”) will be just what the U.S. needs, and will get, to head off the recession, and comes close to suggesting that the Europeans should be taking a leaf out of the American book:
while Europeans and their central bank decide on orthodox, prudent economic policies in view of a slowing pace related to the control of inflation, Americans, once again Keynesians, will be recession-risk fighters. As Vice-president Cheney said, quoting Reagan, “the deficit doesn’t matter
And the piece offers an interesting statistic that should be sobering to Republicans everywhere:
In 1992, in a recessive environment, a quite unknown Bill Clinton won the battle for the White House against senior George Bush, the winner of the first Gulf war. According to a study made, on the four occasions on which the US economy entered a recession at the beginning of an electoral year (1920, 1932, 1960, and 1980) the incumbent party lost.
Could it really be that good pocket-book common sense trumps American voters’ pseudo-moral ideological positions on such things as gun rights, abortion, and all the rest of it? Let’s hope so. It would bear well for the nation.
Read “Why There Will be No Recession in the U.S.” on Watching America.com
H/T Watching America.com
Robin Koerner is a British-born citizen of the USA, who currently serves as Academic Dean of the John Locke Institute. He holds graduate degrees in both Physics and the Philosophy of Science from the University of Cambridge (U.K.). He is also the founder of WatchingAmerica.com, an organization of over 100 volunteers that translates and posts in English views about the USA from all over the world.
Robin may be best known for having coined the term “Blue Republican” to refer to liberals and independents who joined the GOP to support Ron Paul’s bid for the presidency in 2012 (and, in so doing, launching the largest coalition that existed for that candidate).
Robin’s current work as a trainer and a consultant, and his book If You Can Keep It , focus on overcoming distrust and bridging ideological division to improve politics and lives. His current project, Humilitarian, promotes humility and civility as a basis for improved political discourse and outcomes.