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Preventing the Next Financial Crisis
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Alan Meltzer would like to see the Fed reverse its quantitative easing, and lower excess reserves gradually starting now. By this he hopes to see the Fed avoid the mistake of making a big shift from excessive ease to severe contraction further down the road. He also warns agains excessive deficit spending. He says a weak economy is not the time to cut spending or raise taxes, and he is not talking of draconian immediate steps. He would like to see a multiyear program to increase fiscal probity and reduce deficits size and frequency. As it stands now he takes both parties to task for lack of fiscal discipline and honest accounting. About $1 trillion in deficits each year on average for next 10 years is in the works, and is an underestimate because the savings of $200-$300 billion in medicare spending have still to be realized, and states do not have funds for increased Medicaid spending, and payments to doctors have still to go down by 25%. Chinese government purchases of half our debt will postpone the day of reckoning says Meltzer, but far better for us to strike at the problem now, before we blow a hole in the dollar and start a downturn. See the separate report on the shrinking UK economy.
Global Economic Growth post-2008- Inflation, Interest Rates, the Dollar and Exchange Rates
08/15/2005
How all these factors come together for global economic growth, any adjustments, and risks, and different perspectives on achieving the right mix for policies.
Grouped Articles
BusinessWeek 08/15/2005
The Dollar at Home -- and Abroad
Wall Street Journal 04/28/2006
Wall Street Journal 08/30/2006
Wall Street Journal 08/29/2006
Geithner Hints at Harder Line on China Trade
New York Times 01/23/2009
China Rejects Currency Manipulation Charge
New York Times 01/25/2009
The American economy and how a weak dollar will affect living standards and economic health.
10/08/2009
Grouped Articles
The Weak-Dollar Threat to Prosperity
Wall Street Journal 10/08/2009
What Happens If the Dollar Crashes
BusinessWeek 10/14/2009
As the Dollar Sinks, Oil Skyrockets
New York Times 10/22/2009
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
New York Times 10/23/2009
Economist 10/26/2009
The dollar and oil prices.
10/22/2009
Grouped Articles
As the Dollar Sinks, Oil Skyrockets
New York Times 10/22/2009
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
Tom Keene Talks with Energy Consultant Philip Verleger
BusinessWeek 09/09/2010
OPEC Talks and Oil Prices Jump
Wall Street Journal 11/02/2010
China's Oil Demand Is Poised to Push Up Prices
Wall Street Journal 11/08/2010
For Oil's Future, Look Backwards
Wall Street Journal 11/10/2010
Allan Meltzer's action plan for the economy includes reversing the excessive monetary easing starting now in October 2009 so that it can be done gradually and not hurt the economy through sudden contraction later on.
10/01/2009
Allan Melzer was co-founder an co-chairman of the Shadow Open Market Committee for over two decades, advisor to Presidents Kennedy and Reagan, and one of the foremost experts on the Federal Reserve System. He calls for the U.S. Federal Reserve to adopt an early exit strategy from loose monetary policies.
Grouped Articles
Once Again, the Fed Shies Away From the Exit Door
Wall Street Journal 07/11/2013
Bhidé and Phelps: Central Banking Needs Rethinking
Wall Street Journal 07/16/2013
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
Is the U.S. Economy Turning Japanese?
Wall Street Journal 10/27/2009
Economist 10/15/2009
Jobs Now, Deficit Reduction Later
BusinessWeek 10/29/2009
Financial Outlook for Medicare in the U.S.
05/13/2009
Medicare is heading for insolvency by 2037.
Grouped Articles
Home Care Yields Medicare Bounty
Wall Street Journal 04/27/2010
Toward a Different Fiscal Future
Wall Street Journal 02/08/2010
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
Economist 10/15/2009
Economist 08/27/2009
Obama’s Pledge to Tax Only the Rich Can’t Pay for Everything, Analysts Say
New York Times 08/01/2009
Medicare Reform Efforts.
06/17/2009
Grouped Articles
Doctors Chafe As Medicare Cuts Loom
Wall Street Journal 06/16/2010
New York Times 12/18/2009
Toward a Different Fiscal Future
Wall Street Journal 02/08/2010
BusinessWeek 12/10/2009
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
Economist 10/15/2009
Expert opinion on Medicare reform.
06/14/2009
Grouped Articles
Small Group of Doctors Are Biggest Medicare Billers
Wall Street Journal 06/01/2015
Martin Feldstein - Obama's Health-Care Reform Plan Is Not the Answer
Washington Post 07/28/2009
New York Times 07/31/2009
Obama’s Pledge to Tax Only the Rich Can’t Pay for Everything, Analysts Say
New York Times 08/01/2009
Economist 08/27/2009
Economist 10/15/2009
Euro-Dollar and Yuan -Dollar Exchange Rates and Economic growth worldwide- 2009-2013
12/06/2006
Grouped Articles
Europe Is Giving Global Economy A Surprise Boost Amid U.S. Lull - WSJ.com
Wall Street Journal 12/06/2006
As Dollar Weakens, Paulson Faces Challenge of Tempering Its Decline - WSJ.com
Wall Street Journal 12/09/2006
Wall Street Journal 11/04/2008
Geithner Hints at Harder Line on China Trade
New York Times 01/23/2009
China Rejects Currency Manipulation Charge
New York Times 01/25/2009
Wall Street Journal 01/26/2009
Frankly Speaking on the great recession, the dollar and trade deficits 2009-2012
10/14/2009
Peter Morici of the University of Maryland and others express their view in 2009 on what needs to happen. The dollar Morici says needs to be devalued 40-50% against the yuan. He says that while China talks about an alternative reserve currency, it is part of the problem. And the crisis was caused by the U.S. demand that was inflated by the cheap yuan and then collapsed, says Morici.
Grouped Articles
Wall Street Journal 10/04/2011
Europeâs Debt Crisis Is Casting a Shadow Over China
New York Times 05/17/2010
An Accord (and Lessons) to Remember
Wall Street Journal 09/21/2010
Cheaper Chinese Currency Has Global Impact
Wall Street Journal 08/12/2015
China Takes a Smoother Path to Currency Devaluation
Wall Street Journal 11/25/2015
Peter Morici: Behind the Dollar's Dog Days
BusinessWeek 10/15/2009
Steps to take to prevent a new financial crisis.
10/23/2009
Views of Alan Meltzer and others. Steps that would reduce deficits, reverse excessive easing gradually and early, without hurting a weak economy. Lack of action could blow ahole in the dollar and start a downturn say some experts.
Grouped Articles
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
Is the U.S. Economy Turning Japanese?
Wall Street Journal 10/27/2009
The Other Plot to Wreck America
New York Times 01/10/2010
New York Times 08/21/2010
Financial Crisis Was Avoidable, Inquiry Concludes
New York Times 01/25/2011
John Taylor: The Republicans' Shadow Fed Chairman
BusinessWeek 01/20/2011
Escalating cost of Medicare with a rising deficit in the U.S.
06/15/2009
Grouped Articles
Bayonne Medical Center Has Highest U.S. Billing Rates
New York Times 05/16/2013
Doctors Chafe As Medicare Cuts Loom
Wall Street Journal 06/16/2010
Small Group of Doctors Are Biggest Medicare Billers
Wall Street Journal 06/01/2015
BusinessWeek 12/10/2009
10 Ways to Cut Health-Care Costs Right Now
BusinessWeek 11/12/2009
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
Medicare cuts and Doctors in 2010.
07/20/2009
Doctors facing cuts in Medicare payments.
Grouped Articles
Small Slice of Doctors Account for Big Chunk of Medicare Costs
Wall Street Journal 04/09/2014
Small Group of Doctors Are Biggest Medicare Billers
Wall Street Journal 06/01/2015
Doctors Chafe As Medicare Cuts Loom
Wall Street Journal 06/16/2010
Bullish Medicare Projection Doubted
Wall Street Journal 08/06/2010
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
Economist 10/15/2009
Where the money for a deficit-neutral health care plan will come from, and the environment in which each group is trying to preserve its own interests in the face of a public interest.
09/06/2007
The options to tax employer provided health insurance as income, to reduce tax breaks for mortgage deductions and charitable contributions for highend taxpayers, and to reduce Medicare payments, all have one common problem. Each group would like to preserve as much of the status quo as possible, and give up as least as possible.
Grouped Articles
New York Times 04/13/2013
In Holland, Some See Model For U.S. Health-Care System
Wall Street Journal 09/06/2007
Obama's Health Plan -- a Preview
Wall Street Journal 03/04/2008
CEOs Say Stimulus Top Priority
Wall Street Journal 11/19/2008
Wall Street Journal 11/22/2008
When a Job Disappears, So Does the Health Care
New York Times 12/07/2008
Allan Meltzer and Thomas Hoenig offer different ideas for getting the U.S economy back on track
10/23/2009
Linked Articles
Kansas City Fed President Defies Conventional Wisdom
New York Times 08/13/2011
Preventing the Next Financial Crisis
Wall Street Journal 10/23/2009
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