from Today's China-Post 10/6
latest #9
According to the article, The unemployment of US will reach to 10%, by the Greenspan whow is former Federal Reserve Chairman.
Yet he described that Stimulus plan is not needed. instead unemployment benefits is needed.
I don't like him, but about this I agree with him.
Stimulus plan that gomverment spending lead the big government' debt. and its effect is confined within the established industories.
It only benefits the industries which should be obsoleted. And it becomes obstale to transfer of the industries manufacture to service.
You know Japan, Japan at the bottom of recession, has continued to make stimulus plan for two decades.
Yet Their economy has still sunk under the depression. It has still persisted manufacturing, the productivity of service has been low.
I was taught in University fifteen years ago, stimulus plan can't solve the systematic economy problem.
They know it is wrong method, but why do they persist that method?
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