Gone are grandiose plans for massive stimulus to boost output and employment on Keynesian steroids.
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After a massive stimulus in 2009, the country may now be facing a credit squeeze.
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And America must lay out a credible route to the eventual unwinding of its massive stimulus.
As austerity is the mood of the federal government, it is doubtful another massive stimulus program is coming.
Analysts said it was unlikely Beijing would introduce another massive stimulus package like it did after the global financial crisis in 2008.
Then it was that the massive stimulus efforts and resulting additional debt load would drag the economy lower rather than result in recovery.
Policymakers have begun to worry that the country's massive stimulus spending in response to the global financial crisis could run out of steam.
With China's government pursuing a massive stimulus package, it looks like it will show moderate positive growth for 2008 while other economies have retrenched.
Yet money velocity may pick up quickly when companies sell off the last of their inventories and Uncle Sam's massive stimulus program gets consumers spending again.
Earlier this month the BoJ announced the latest in a series of massive stimulus boosts, aimed at lifting the country out of a decades long economic doldrums.
Now, with massive stimulus in the past, inflation under control, and real estate no longer rising in the double digits, China looks like it has neared its bottom.
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To see how daunting a turnaround would be, look no further than the former East Germany, which is still struggling, despite a massive stimulus by Germany's more prosperous western half.
As we all know, the Treasury Department, and both the Bush and Obama administrations, battled the awful economic collapse of 2008 from the fiscal side, with greatly increased government spending on massive stimulus and bail-out programs.
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Many fear that the massive stimulus efforts are merely whipping up an inflation crisis down the road without doing anything to get the U.S. economy out of its current malaise, which includes tepid growth and unemployment above 8%.
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Democrats made it clear that they plan to put their stamp on the massive economic stimulus bill.
In currency trading, the dollar jumped about 2.7 percent against the Japanese yen, after the Bank of Japan announced a massive monetary stimulus plan.
Although the firm had pinned its hopes on international growth, it was China's effort to boost domestic consumption through a massive fiscal stimulus that prevented a worse outcome.
Tor Myhren, an ad executive credited with many successful campaigns including the ETrade talking baby, says he uses "massive creative stimulus followed by total solitary confinement" to start ideas flowing.
However, there has been no massive government stimulus package like the one launched after the global financial crisis in 2008, mainly because that move led to a sharp rise in consumer prices.
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This time around global policymakers have largely avoided the most serious pitfalls by coordinating massive fiscal stimulus programs with a dramatic easing of monetary conditions, all while keeping public bickering to a minimum.
In those years the market made gains in the winter months and then, fueled by massive government stimulus programs, continued to make gains during the summer months when a seasonal investor would have been out of the market.
"China is for sure steadily recovering and has bottomed definitively, " she told The Wall Street Journal, though she noted that the pace of recovery would be slower than in 2010, when a massive government stimulus package drove growth.
In those years the market made gains in the winter months, and then, fueled by massive government stimulus programs, continued still higher during the summer months when a seasonal investor would have been invested in something other than stocks.
Obama's economic agenda has been a weak dollar, tax increases, massive domestic "stimulus" spending and increased regulation.
To some degree, this indicates the capital markets expect an orderly withdrawal from the massive global monetary stimulus measures currently in place.
So while the massive bailout and stimulus package may have averted a crisis in the short term, there would be grave consequences for the irresponsible spending.
Second, the announcement this week of a massive fiscal-stimulus package suggests the government does intend to do what it can to keep its own economic engine purring.
The question being asked by economists today is if recent massive global government stimulus under already strained deficit condition can result in larger long-term problems than the short-term problems it is intended to solve?
Massive fiscal and monetary stimulus is cushioning the damage to households' and banks' balance-sheets, but the underlying problems remain.
The new Japanese government may now claim that its promise of a massive monetary and fiscal stimulus is solely designed to boost the domestic economy but it has made little secret of its desire to see a weaker yen.
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