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Fed: Obama's win good news for world economy: Swan

Article from: AAP General News (Australia) Article date: November 08, 2008

AAP General News (Australia)
11-08-2008
Fed: Obama's win good news for world economy: Swan

Treasurer WAYNE SWAN believes BARACK OBAMA's win in the US presidential election will
help the world tackle the financial crisis.

Mr SWAN .. who's in Brazil for talks on the crisis .. says the change in leadership
in the US will be one of the factors that will help the world deal with the financial
problems urgently.

He also says world leaders have to learn how to cooperate better if future economic
crises are to be avoided .. and international financial regulators need to regulate world
markets ...

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New Deal a Good Example, But Not Perfect

Posted Nov 10, 08 10:01 AM CST in Politics,  Business,  Opinion 

New Deal a Good Example, But Not Perfect
Source: AP Photo/Gerald Herbert

(Newser) – With the economy on the rocks, the New Deal is a hot topic. But FDR’s master plan almost failed, Paul Krugman writes in the New York Times, because "his economic policies were too cautious." In the end, "what saved the economy, and the New Deal, was the enormous public works project known as World War II, which finally provided a fiscal stimulus adequate to the economy’s needs."

Roosevelt’s plan balanced spending with high taxes and state and local spending cuts. “My advice to the Obama people is to figure out how much help they think the economy needs, then add 50%,” Krugman argues. “It’s much better, in a depressed economy, to err on the side of too much stimulus than on the side of too little.”

Source: New York Times

More about:  Financial Crisis • President Obama • economy • economic stimulus • Franklin D. Roosevelt • New Deal

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OPINION

Obama Must Be a Goo-Goo:
Krugman

That's a good-government wonk, much like FDR

New York Times New York Times Dec 26, 08 9:07 AM CST
(Newser) - Bill Clinton once declared that “the era of big government is over.” Barack Obama can’t do that, writes Paul Krugman of the New York Times. “Indeed, he has to be a goo-goo.” Goo-goo being a century-old term for “good government” proponents. FDR, for example, was a classic goo-goo. He expanded government and improved its reputation at the same time. More »

More about:  Barack Obama • President Obama • economic stimulus • Franklin D. Roosevelt • New Deal

OPINION

Krugman: Obama Can't Take Crutches Away Too Soon

Government must remain involved for economy to gain new footing

New York Times New York Times Dec 22, 08 12:54 PM CST
(Newser) - The Obama administration must resist the temptation to leave the economy to its own devices too soon, Paul Krugman writes in the New York Times . “Getting to the point where our economy can thrive without fiscal support may be a difficult, drawn-out process,” he writes, with no bubble in sight to replace housing. “Things can’t just go back to the way they were.” More »

More about:  Barack Obama • Financial Crisis • President Obama • recession • economy • economic stimulus • housing bubble • trade deficit • Paul Krugman

OPINION

 Can Obama Be the New FDR? 

Nation needs Roosevelt's action, inspiration

New York Times New York Times Nov 8, 08 1:08 PM CST
(Newser) - Barack Obama’s call yesterday to “act swiftly” to address the economic crisis clearly echoed Franklin Roosevelt’s inaugural address during the Depression: “action, and action now.” But while Obama's “crisp competence” was welcome, he wasn't particularly inspirational, and, Joe Nocera writes in the New York Times , filling the shoes of FDR means not just pushing through piles of legislation but moving Americans to “draw out our best selves.” More »

More about:  Barack Obama • Financial Crisis • President Obama • economy • Franklin D. Roosevelt • FDR • inspiration


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