Word: moneyitis
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...Although other experts largely agree that governments - and ultimately taxpayers - will end up footing a hefty bill for all the stimulus money, some don't believe this will necessarily mean that Europe's modest growth rates are doomed to slip back into the red. Eric Heyer, an economist at the French Economic Observatory in Paris, says the official forecasts of continued modest growth are feasible - although that doesn't mean an immediate recovery for many nations. Even if European economies can nurture gradual expansion, he says, most will still see unemployment continue to rise through 2010 and into next year...
...Buik worries that the bright outlooks ignore the darker realities of relying on government stimulus money to restore economic growth. "Ultimately, states are going to have to cut spending and raise taxes to pay for what they've already spent," he says. "That means a period of fewer public jobs, reduced aid payments and less disposable income in consumers' pockets. Businesses will only start reinvesting money on production and jobs when they're sure demand has returned - and that isn't likely before we see government undertake cost-cutting we know is inevitable." (Read a piece on London as part...
...advanced clinical development, doctors say they are not enough. Further research "has a very significant chance of really leading to some very exciting new therapeutics," says Dr. Jeffrey Glenn, director of Stanford University School of Medicine's Center for Hepatitis and Liver Tissue Engineering. "This is an area where money will be incredibly well spent...
...insurers disregard preexisting conditions, but insurers distinguish between the sick and the healthy because the former are more expensive. If insurers cannot charge different prices, they’ll charge the healthy more to cover the difference. And if plans prove too pricey, the healthy will drop them, sucking money from the pool and raising premiums for the sick. So Democrats want everyone to buy coverage or face a fine, yet the fine they’ve prescribed is too low to deter dropouts. A higher fine, they fear, would provoke outrage...
Stiglitz also criticized the Obama administration and the Federal Reserve for lending money to banks without a vision of what a stable financial system should look like or an acknowledgement of the danger of risk-encouraging incentives...