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The Recession Paradox | Alfonso Peccatiello
Forward Guidance
Fiscal Deficits: How to Avoid Them
Fiscal deficits that are not offset by an increase in the treasury general account. Deciding to cut your taxes and decide to send you check at home, decide to increase the amount of disposable money you have on your bank account. And not tax it. That's real economy money. You can spend it on anything inflationary you want. The fact that Europe run austerity programs between 2012 and 2020 basically explains most of the underperformance on GDP and inflation that Europe had against the US.
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