---------- Forwarded message ----------
From: barry levine
Date: Wed, May 27, 2015 at 12:02 PM
Subject: re: Jury Is Still Out on European Central Bank’s Stimulus Program
To the Editor:
Contrary to Jack Ewing, expanding the currency pool is not always a "zero-sum game". John Maynard Keynes showed 85 years ago that--in the absence of other economic activity--printing money is the necessary corrective to keep a recession from spiraling into a depression.
The "jury" is not "still out" on whether stimulus works. That has been proven in the affirmative time and time again. What remains to be seen is how long governments (mostly in Europe) will hew to Herbert Hoover's disastrously wrong austerity creed.
Barry Haskell Levine