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Economic Goulash to Calm a Ghoulish Market
Wednesday, June 09, 2010
By Charles Payne
FOXBusiness
<--- http://www.foxbusiness.com/story/markets/industries/government/economic-goulash-calm-ghoulish-market/
Call it Hungarian goulash, the national dish that is neither a soup nor a stew. It was created by herdsmen and prepared in cast iron kettles above open fire. This peasant dish did not catch on with upper levels of society until the 19th century.
Yesterday Hungary unveiled a rescue plan that can only be described as an economic goulash that is neither Freidman nor Keynes. While the edible version is prepared into a thick consistency the economic version is inconsistent and hard to swallow. The edible version is a beef dish with onions, Hungarian paprika powder, tomatoes and green pepper (some recipes call for potato and noodles). The economic version aims to cut pork and add beef but such a hodgepodge of ingredients it leaves everyone hungry for more.
The goal to lower deficit to 3.8% of GDP this year doesn’t seem attainable but considering less aggressive goals of other European nations it’s not the kiss of death. I like the idea of lower taxes on earners and businesses as well as freezing expenses in the budget. There probably is a need to cut expenditures in the budget and that could come later.
Wednesday, June 09, 2010
By Charles Payne
FOXBusiness
<--- http://www.foxbusiness.com/story/markets/industries/government/economic-goulash-calm-ghoulish-market/
Call it Hungarian goulash, the national dish that is neither a soup nor a stew. It was created by herdsmen and prepared in cast iron kettles above open fire. This peasant dish did not catch on with upper levels of society until the 19th century.
Yesterday Hungary unveiled a rescue plan that can only be described as an economic goulash that is neither Freidman nor Keynes. While the edible version is prepared into a thick consistency the economic version is inconsistent and hard to swallow. The edible version is a beef dish with onions, Hungarian paprika powder, tomatoes and green pepper (some recipes call for potato and noodles). The economic version aims to cut pork and add beef but such a hodgepodge of ingredients it leaves everyone hungry for more.
The goal to lower deficit to 3.8% of GDP this year doesn’t seem attainable but considering less aggressive goals of other European nations it’s not the kiss of death. I like the idea of lower taxes on earners and businesses as well as freezing expenses in the budget. There probably is a need to cut expenditures in the budget and that could come later.
