Somewhat surprisingly, given Schwarzenegger's low job approval rating, his draconian budget plan gets pretty good marks.
Paul Volcker knows what he is talking about; it was he as Fed Chairman during the Reagan administration who squeezed high inflation out of the U.S. economy through a draconian process of high interest rates.
The economies of Greece and Ireland are already reeling from interest rates of 4-64-6%d draconian budgetary contraction imposed by EU/IMF bailouts of €110bn and €80bn respectively.
For weeks, financial markets and the International Monetary Fund have been sending European governments the message that country-by-country bailouts, with loans at punitive rates and tied to draconian austerity measures, won't solve the problem.
But the worst part is that policies a majority of citizens might want — a lower rate of incarceration, perhaps; less draconian drug laws; programs that train inmates for re-entry to society or oblige them to work — are likely to be blocked by a company that has its own, money-making interests to fulfill.
In 2010 they decided on [a 40% total] rate increase, bang, and these draconian water tiers.
By moving well ahead of any sign of rampant inflation, the Fed can afford to make moderated adjustments instead of draconian ones, allowing the economy to absorb small rate increases over time.
"While disappointed by the results, we believe these changes, rather than a more draconian approach, will improve our research degree completion rates over the coming years," says Young.
Volcker embarked on a draconian tightening of monetary policy that saw interest rates briefly rise above 20% and the US economy plunge into its deepest recession since the 1930s.
It seems like a whole bunch of you went and bought a Droid X despite my "don't buy" rating on account of Motorola's draconian OS lockdown tactics.
