by Dirk Ehnts, Econoblog101
After much vilifying in the German media, this video is a welcome change. We should get used to Varoufakis as the first in a long succession of Greek finance ministers fighting a political fight against the German finance minister. Given that Greece reaches a primary surplus of 4.5% and keeps it there - no country has even come close to achieving this - and a zero growth rate on average (sorry, but I think that is a realistic assumption) Greece's government debt will fall below the 60% declared the maximum of "just right" by the Maastricht Treaty in 2039! Lots of fun for the media and the politicians? I don't think so.
Public Spending On Transportation And Water Infrastructure Over The Past 30 Years Has Hovered At 2.4%, Which Is 0.6% Lower Than The Peak Of 3.0% In 1959.
from the Congressional Budget Office
Public spending - spending by federal, state, and local governments - on transportation and water infrastructure totaled $416 billion in 2014. Most of that spending came from state and local governments: They provided $320 billion, and the federal government accounted for $96 billion.
by Liberty Street Economics
by Matthew Ploenzke, Robert Rich, Michael Stewart, and Joseph Tracy - Liberty Street Economics, Federal Reserve Bank of New York
Euro area inflation expectations have been falling at both short- and long-term horizons, with the latter development suggesting the current low inflation environment is perceived as likely to persist. Because long-term inflation expectations play a key role in the decisions of households and firms, economists have stressed the importance of long-term inflation expectations being anchored at a central bank's target. In this post, we use survey data on inflation forecasts to document evidence of recent "unanchoring" of euro area long-term inflation expectations, and note the difference in comparison to the 2008-09 period, when current inflation and short-term inflation expectations also declined but long-term inflation expectations remained steady.