July 8, 2009

Shovel ready

France has a tee wee stimulus package, relative to the one announced, but barely distributed let alone spent, by the US.

Much like Australia, the US might, just might, start lifting shovels and doing stuff to support the economy by, well, sometime late this year, but mostly during 2010. A long lag by any reckoning.

Meanwhile, France has rapidly deployed their stimulus cash, with around 100 billion Euros expected to be spent by the end of 2009.

Nice to see that France is investing in sprucing up castles and cathedrals, among other shovel-ready efforts, with art considered an equally worthy area of spending. The French also seem more focused on an immediate boost to employment and aggregate demand, rather than rolling the dice on the chance of long run growth, the later being the Australian and US approach. Of course, no one knows if either strategy will prove successful.

France, unlike US, is deep into stimulus projects

No comments:

Post a Comment