Quote of the Day: David Rosenberg on tax rebates to buy iPods

| 10 July 2008 08:27

Chief North American economist David Rosenberg said the following about the Bush Administration’s fiscal response to the credit crisis:

We are nervous that we have ended up following in Japan’s footsteps due to the inept fiscal response to the problem. A temporary tax rebate from Uncle Sam to buy iPods tackles a real estate deflation and credit crunch as effectively as the LDP’s [Japanese Liberal Democratic Party] ‘solution’ in the early 1990s to build bridges and pave river beds that nobody needed.”
-National Post, 9 Jul 2008

avatar About Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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