Stabilising government finances has nothing to do with economics and everything to do with politics, and politics is merely the art of the possible. A breakthrough akin to time-travel is needed if the required fiscal retrenchment is to be achieved painlessly.However, this is the time for the next impossible equation, that I already touched upon on Monday, but Steve Waldman brings us to the options available. Corporate sector seems the right one to solve the issues of sectoral balances?
Wednesday, June 30, 2010
Anniversary Of Impossible Equation
Exactly one year ago I posted SocGen: Public Finances - The Impossible Equation. Dylan Grice, the global strategist at Societe Generale, writes today: