The Land of Full Employment

I hate to admit it but I like that Target ad with this song. Being a kid in the late 1970s* you'd come across cultural artifacts from the previous decade - the epic Sixties - that might as well been from an alien culture they were so bizarre, especially the music. Still they held a strange fascination.

Anyway, in his recent Op-ed Treasury Secretary Timothy Geithner linked to a piece by Kenneth Rogoff which I really didn't like in which Rogoff seems to be fatalistic and argues against overdoing fiscal stimulus.

Then I see Rogoff on Charlie Rose and he's arguing for fiscal stimulus of about half the size of Obama's ARRA, so around $300-350 billion I'd guess. Plus, he argued for more inflation. What gives? I like it but why the change of mind?

Maybe the Fed will do something next week if the job numbers tomorrow are bad.

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* A very strange time culturally speaking.