Click for Ann Arbor, Michigan Forecast
Wednesday May 24, 2017
Follow us: facebook twitter RSS feed
Print Comment E-mail

GM's Cassandra



Whitman believes the loans Detroit is seeking "will definitely make a difference" in assuring the companies' near-term survival. "Will it underpin ultimate viability? That we'll have to see."

Much will depend on the course of the continuing recession-and on what her successors in Washington do next. Whitman respects Christina Romer, the Berkeley economist who will chair Barack Obama's Council of Economic Advisers, but doesn't envy her dilemma.

At the recent Group of Thirty meeting, Whitman says, speaker after speaker described "a kind of a hundred-and-eighty-degree discrepancy, from many perspectives, about what is required in the short run and what is required for the long run. For the short run, we need the consumers to keep on spending; for the long run, we know Americans need to save more. For the short run, it is clear that there has to be ample liquidity provided by the Fed to help get us through this; for the longer run, there is some concern that if there is too much liquidity floating around in the world, you could get inflationary pressures. We know the government has to spend on both bailouts and on job creation, and yet for the long run, we know we have to get a handle on the government debt.

"So no matter where you look, there's this contradiction. To do what has to be done now, and then somehow make the transition a hundred and eighty degrees to what is required for the long run, can't be easy for any mortal, or any group of mortals."

Bookmark and Share
previous  ·  1 l 2 l 3 l 4 l 5 l 6 l 7 l 8 l 9  ·  next page
all on one page
read more stories here -> Marketplace  l  Culture  l  Community  l  News

You might also like:

Launch is launched to Packard and Platt
Ulrich's relocation brings the east side a board shop.
Sabine Bickford
Laura Hulthen Thomas
Unexpected turns
Keith Taylor
Health Care - Health Care Clinics
Restaurants with prices Under $10
A clickable zoomable map
Luay Shalabi
Educating and acclimating at Central Academy
Eve Silberman
Nightspots: Zal Gaz Grotto
Spectator Sports
Today's Events
Manufactured Housing
Dave Sharp Worlds Quartet
Where jazz goes when it leaves home
Sally Mitani
Grillin' 2017 June 11th, 3-8pm - Ann Arbor MI
Victors for art at the university of Michigan Museum of art
A guide to senior living and services