Today the United States will choose between a moderate Republican, with a pro-business agenda, or Mitt Romney. Yes President Obama has saved the economy from a 1930s like catastrophe with a smaller than necessary, but still very effective, fiscal package, and monetary easing has precluded a collapse of the banking and financial sector like the Great Depression one, but his economic views and the outlook of his policies remains to the right of Richard Nixon. Obama did not disagree with Mr. Romney that government does not create jobs, and has accepted the anti-Keynesian rhetoric of the need of reducing the fiscal deficit, even though the recovery, which is undeniable, has been very slow.
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ReplyDeleteHi Magpie:
DeleteNote that Nate Silver was right. It wasn't a particularly close election. Mind you, I don't think there will be a lot of bi-partisan cooperation for fiscal expansion, which is what the economy needs. Hope springs eternal.
"I don't think there will be a lot of bi-partisan cooperation for fiscal expansion, which is what the economy needs."
ReplyDeleteThat sounds like a safe bet, even to me, living, as I do, Down Under.
I have been so incredibly busy during the last few weeks that I couldn't continue my review of Nate Silver's model here on NK. When I get some time, I will, and it deserves being labelled something like "The Revenge of the Nerds." I agree, Matias, that progressive change will be muted, but my extreme nerdy schadenfreude at the utter failure of the right wing innumerates and anti-intellectuals is just too satisfying to give up for the moment and dominates. I'll return to pragmatism sometime soon.
ReplyDeleteFair enough. But the fiscal cliff, and O's tendency to like comprimise are a very dangerous situation. Must agree with Krugman, let's not make a deal http://www.nytimes.com/2012/11/09/opinion/krugman-lets-not-make-a-deal.html?_r=0
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