John Francis on Nostr: counter-cyclical fiscal policy is a very old economic lesson, going back to the ...

counter-cyclical fiscal policy is a very old economic lesson, going back to the 1930s, when they failed to perform it and dragged out a normal 18 month recession into a 9 year depression.

Austerity during recessions aggravate recessions. High spending during booms aggravates booms. So spend more during recessions, less during booms, the smooth out the peaks & valleys.

Very orthodox economics.

No boom is coming for #canada in the foreseeable future. Not the time for austerity.