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Macedonia and the Global Crisis: Weighing the Options
In times of economic crisis, as consumption and investment plummet and unemployment is on the rise, the only way to effectively cancel out this demonetization of the national economy (this "bleeding") is through enhanced government spending and by cutting taxes and reducing fees for government services and goods.
The Next 18 Months: Recession, False Recovery, Depression
The Obama stimulus package, worth some 800 billion USD, the 1.9 trillion USD in TARP funds and the endless Fed injections and auctions are bound to revive the moribund American economy by the third and fourth quarter of 2009. The Dow-Jones is likely to touch 10900, consumption will recover, as will housing starts and, in some markets, housing prices. But this "recovery" will prove to be a false dawn. It will last 2 quarters at most and will be followed by a recession so deep and ............
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