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To Survive Disasters, You Need Smiles (guest: Steve Hou)

The Market Huddle

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The Dominance of Fiscal Policy or Monetary Policy?

The dominance of fiscal policy or monetary policy just means that, you know, sort of you are in the second scenario where governments actually do not severely cut back of fiscal spending. So basically, it's forced into a situation where you either have to cut back on spending or you basically start monetizing the debt with the central bank back-stopping government spending. And now that you say that the undergrad economics programs don't teach you very much, you feel better about it.

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