The US Stimulus Plan - Will it work?

My brother sent me this article from the Wall Street Journal the other day. It may have more importance than anything else relating to the Us recession and global economic slowdown.

The article, titled Barack Obama-san, mentions that President elect Obama's plans to pump money into the economy in his term as President may not be the best alternative at a time like this. It tells the story of Japan in the 1990s, when property prices were plummeting, and the stock market sunk 60% over three years. It also tells the story of how one stimulus package after another was thrown at the problem, but the only when leaders made the "decision to privatize state assets and force banks to acknowledge their bad debts, did the economy recover".

Maybe we have some lessons to learn and be precautious about what is being told to us.

Carpe diem.

Comments

Tanzania is not Tasmania

Dear friends: Please let's stop refering to Tanzania as Tasmania. Here is why. Tanzania is located on the coast of East Africa, below Kenya. It is not origin of the the cartoon character from your childhood. Tasmania is an island which is part of Australia. The animal known to exist only on Tasmania is the Tasmanian Devil. Once again, you will see this is not the cartoon character you remember from your childhood. Let's summarize: Tanzania is not Tasmania.

Policy Brief 2: Why is Tanzania Poor?

(Policy Brief # 2 Submitted December 6th 2007, for Econ 346 - Economic Development, Lafayette College) Over the course of the 20th century, Tanzania experienced a multitude of social, political and economic changes. It still remains poor today. The WorldBank classifies a ‘low income country’ – such as Tanzania – as one with a Gross National Income per capita of $905 or less (WorldBank Data 2006). As of 1992, Tanzania ’s per capita income was recorded at $110, and average per capita consumption was $0.5 per day (OECD 2000). Several possible factors have been blamed for contributing to current hardships, such as Julius Nyerere’s failed attempts to collectivize agriculture between 1961 and 1975 through his socialist Ujamaa policies as the first president of Tanzania (Pratt 1980). While pre-independence plans “focused on the commercialization of agriculture and the creation of industries that could reduce the need for a variety of imports”, post-independence interventions by the Gov

Wake Up Routine

What's that unearthly sound? Turn off the alarm. Snoozing is dope. Shit, I have to get to work. What time is it? Let's have some water. Let's stand outside for a minute. Send out today's assignments. How is my family? Has mum had her meds and breakfast? Where's my chai? Do I need a car today? Are there any fires burning? Who is that calling, I just got here! OK, let's start the day.

mink

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