Will Federal fiscal and monetary inflationary stimulus get more massive?
*Financial Times, by Andrew Ward, January 8, 2009:
"Obama to warn economy will worsen
Barack Obama will on Thursday warn that the economy could become
'dramatically worse' if Congress fails to act quickly on his plans for
a massive fiscal stimulus.
In his most high profile speech since the election, the president-elect
will say that unemployment threatens to reach double digits and the
recession 'could linger for years' without urgent intervention.
'I don’t believe it’s too late to change course, but it will be if we
don’t take dramatic action as soon as possible,' he said, in remarks
prepared for delivery at George Mason University near Washington.
Mr Obama will claim that America could lose 'a generation of potential
and promise' as young Americans are forced to forgo college and job
training.
'Our nation could lose the competitive edge that has served as a
foundation for our strength and standing in the world,' he is expected
to say. 'In short, a bad situation could become dramatically worse.'
The grim speech marked the start of what is expected to be an
aggressive public 'sales pitch' for the stimulus plan, amid widespread
nervousness about the soaring deficit and expanding government."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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