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Here come the tax cuts

  • 23-08-2014 10:02am
    #1
    Twas Not
    Banned (with Prison Access) Posts: 225 ✭✭


    So finally the penny drops at the ECB. Ultra low rates to pump credit into an over leveraged populace was always pointless. Instead let governments borrow at less than 2% and cut people's taxes. Will it work?

    http://m.rte.ie/news/touch/business/2014/0822/638827-draghi/


Comments

  • #2
    jank
    Banned (with Prison Access) Posts: 13,018 ✭✭✭✭jank


    It is interesting that they reference the unemployment rate of the US compared to that of the EU with the point that the disparity is solely due to an implementation of QE. The US unemployment rate has always been lower than the EU primarily due to more business friendly environments and a more flexible labour market.

    Will be interesting to see how EU QE will work in practice. The biggest benefactor is the US has been the stock market. Will we see a bull rally in EU share markets as well?


  • #3
    spuddy
    Registered Users, Registered Users 2 Posts: 823 ✭✭✭spuddy


    jank wrote: »
    ....The US unemployment rate has always been lower than the EU primarily due to more business friendly environments and a more flexible labour market...

    Another reason is how the US calculates unemployment. Persons who haven't looked for work for more than 4 weeks don't count towards the unemployment rate.

    http://viableopposition.blogspot.ie/2014/02/americas-missing-workers-and-real.html


  • #4
    Geuze
    Registered Users, Registered Users 2 Posts: 14,039 ✭✭✭✭Geuze


    We use the ILO definitions:


    ILO Labour Force Classification

    The primary classification used for the QNHS results is the ILO (International Labour Office) labour force classification. Labour Force Survey data on this basis have been published since 1988. The ILO classification distinguishes the following main subgroups of the population aged 15 or over:

    (1) In Employment: Persons who worked in the week before the survey for one hour or more for payment or profit, including work on the family farm or business and all persons who had a job but were not at work because of illness, holidays etc. in the week.

    (2) Unemployed: Persons who, in the week before the survey, were without work and available for work within the next two weeks, and had taken specific steps, in the preceding four weeks, to find work.

    (3) Inactive Population (not in labour force): All other persons.

    The labour force comprises persons employed plus unemployed.


  • #5
    Rightwing
    Closed Accounts Posts: 8,101 ✭✭✭Rightwing


    I have my doubts as to whether the ECB will QE. Germans are too crafty for that madness, they paid the price before.


  • #6
    Twas Not
    Banned (with Prison Access) Posts: 225 ✭✭Twas Not


    Rightwing wrote: »
    I have my doubts as to whether the ECB will QE. Germans are too crafty for that madness, they paid the price before.

    This won't be classified as QE


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