“You Can't Spend Your Way Out of the Crisis,” but look who’s talking! [update]
The Wall Street Journal has been one of the few to consistently point out that you can’t spend your way out of crisis. Unfortunately, in a major profile, they’ve bought the notion that John Key agrees with them. See You Can't Spend Your Way Out of the Crisis: New Zealand's prime minister wants to give his country a competitive advantage instead.
Fortunately, Paul Walker at Anti Dismal doesn’t buy the hype. "There is actually a limit to what governments can do," Key is quoted as saying. “Fine words,” responds Paul, “I just wish his actions backed them up.”