Because the president of Honduras proposed to change the constitution to allow him further terms of office, he was accused of violating article 239 of the Honduran Constitution: No citizen who has already served as head of the Executive Branch can be President or Vice-President. Whoever violates this law or proposes its reform, as well …
Month: July 2009
What is wrong with the Bush/Obama economic stimulus
the Keynesian description of the crisis only addressed a small and unimportant part of the truth, thus stimulus could only have a small and unimportant benefit. The economy is not “starting to get better alreadyâ€, rather it is only beginning to go bad.
Rising natural rate of unemployment
Rapidly rising unemployment without falling inflation indicates that this rising unemployment is directly caused by the “stimulus†and is likely to be permanent. Moving to a European style political and economic order means moving, permanently, to European levels of unemployment.