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News Link • Economic Stimulus

CFR Proposes Household Bailouts

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Did you get your bailout check? Well there may be one in your mailbox soon if the Council on Foreign Relations gets their way. The influential group, proposed an unusual way to stimulate the economy in an article titled "Print Less but Transfer More: Why Central Banks Should Give Money Directly to the People." Japan experienced a post-war boom that was described by some economists as a miracle. Between the five years between 1986 and 1991, the nation's economy grew by almost one trillion dollars. The bubble burst in the early nineties, and public spending slowed until the national economy started shrinking. In 1998, then future chairman of the Federal Reserve Ben Bernake suggested a means for the Japan to recover from its economic crash. by ending cash to Japanese households. The idea intended to drive up spending and demand. The government in Tokyo never adopted such a policy, and the economy there continues to stagnate. The latest motion to provide cash payments direct

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