Bill Mitchell: The ‘fiscal contraction expansion’ lie lives on – now playing in Italy – Part 2

It will be madness if Italy bows to the pressure from the European Commission and the IMF and its related bullies like Blanchard and Co. and engages in more fiscal austerity.

Italy is on the edge right now. It recorded zero growth in the September-quarter 2018.

It simply must engage in fiscal expansion and enjoy the positive reinforcing private spending effects that will flow from that.

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